Question 1

Consider the Cobb-Douglas Production function: P(L, K) = 30L0'2K0'8 Find the marginal productivity of labor and marginal productivity of capital when 17 units of labor and 20 units of capital are invested. Give your answers to at least 4 decimal places if necessary. Marginal Productivity of Labor when L is 17 and K is 20 = PL(17, 20) = :] Marginal Productivity of Capital when L is 17 and K is 20 = PK(17, 20) =' I A contour map for a function f is shown. Estimate the value of fy(4, 19) Calculate the partial derivatives of a function of more than two variables. Given f(a:, y, z) = V6932 + 2y2 + 1z2, find Man vs z) = W a z) = Me\"): Determine the higher-order derivatives of a function of two variables. Given f(a:, y) 2 9w8 cos(y5), find by\": y) =[ ] m, y) =:]