Question: Northern frontier airline's production function is given by a Cobb-Douglas form: Y=LK, 0 0, MP>0, and that . c) show that the marginal rate

Northern frontier airline's production function is given by a Cobb-Douglas form: Y=L"K,

Northern frontier airline's production function is given by a Cobb-Douglas form: Y=L"K, 0 0, MP>0, and that . c) show that the marginal rate of substitution between labor and capital depends only on the ratio of K and L, but NOT on the level of production Y. d) based on the above, do you think that the Cobb-Douglas form is a realistic production function for the airline industry? Please explain.

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