Question: Completed some work, just want to verify. EC 402 Intermediate Macroeconomics Theory Homework 1B Instruction: 0 Please Typed. 0 Highlight the answers. 0 Submit the

Completed some work, just want to verify.

EC 402 Intermediate Macroeconomics Theory Homework 1B Instruction: 0 Please Typed. 0 Highlight the answers. 0 Submit the doc le on W do not forget your name. 1. Suppose a hypothetical economy has the following production function (7.5pt): Y = F(L, K) = 20L0-3K0-7 a. Calculate the Marginal Product of Capital b. Calculate the Marginal Product of Labor 0. Is this production function exhibit constant, diminishing or increasing marginal product of labor? Show it. 2. Suppose a hypothetical economy has the following production function (7.5pt): Y=F(L,K) =L+K a. Calculate the Marginal Product of Capital b. Calculate the Marginal Product of Labor c. Is this production function exhibit constant, diminishing or increasing marginal product of labor? Show it

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