Question: Could you please help solve the below question: Question-7 [Using Excel) Suppose a rm has a production function given by Y = zK0-3 (Nd)'7 a)

Could you please help solve the below question:

Could you please help solve the below question: Question-7 [Using Excel) Suppose

Question-7 [Using Excel) Suppose a rm has a production function given by Y = zK0-3 (Nd)'7 a) [fz = 1 and K = 1, graph the production function. Is the marginal product of labour positive and diminishing? (5 Points] b) Now, graph the production function when 2 = 2 and K = 1. Explain how the production function changed from part (a). [5 Points) c) Next, graph the production function when 2 = 1 and K = 2. What happened now? (5 Points] d] Given this production function, the marginal product of labour is given by O.3 MPN = 0.7zK0-3(Nd) Graph the marginal product of labour for [2, K) = [1, 1), [2, 1), [1, 2). (5 Points]

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