Question: Consider a Cobb-Douglas production function given by Consider a particular iso curve of function Q (K, L) with implicit function L = g (K) that

Consider a Cobb-Douglas production function given by

Consider a particular iso curve of function Q (K, L) with implicit function L = g (K) that pass through (K, L) = (1, 1). Compute the slope of the above iso curve g? (1) at point (K, L) = (1, 1). Hence estimate the increase in labor L to maintain the current level of production when capital Ar decreases by 1 unit.

Q(K, L) = 4K OL.

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