Question: 3. Given the equation for the CobbDouglas production function Y = AK L1r1 where 0 3. Given the equation for the Cobb-Douglas production function Y

3. Given the equation for the CobbDouglas production function Y = AK \"L1r1 where 0

3. Given the equation for the Cobb-Douglas production function Y = AICQLI a where 0 < a < 1: (a) Derive the equation for the marginal product of capital. Show your work. (b) Can the marginal product of capital be negative in an economy described by the Cobb-Douglas production function? Briefly explain.

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