4. The figure below represents the produc-

tion function relating output to capital in the

United States. Suppose unusual weather con-

ditions result in a higher than expected crop

yield in the midwestern states.

a) Draw the new production function in the

same graph.

b) What is the effect on the marginal product

of capital?

4. The gure below represents the produc- tion function relating output to capital in the United States. Suppose unusual weather con- ditions result in a higher than expected crop yield in the rnidwestern states. a) Draw the new production function in the same graph. 13) What is the effect on the marginal product of capital? Output, Y Capital, K