Question: 9 . * For a Cobb-Douglas production function Y AK N (1 ) , verify that 1 is labors share

9 . * For a Cobb-Douglas production function Y AK N (1 ) , verify that 1 is labor’s share of income. [ Hint: Labor’s share of income is the piece of income which results from that labor ( MPL N ) divided by total income.]

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