Question: Suppose the aggregate production function is Y = K L 1 - where 0 < 1 . a . Find the intensive form of the

Suppose the aggregate production function is Y = K L
1- where 0<1.
a. Find the intensive form of the production function, y = f(k), where y Y/L and k K/L
b. Find the marginal product of labor and the marginal product of capital (MPK Y/K).
Use words to describe the MPL and MPK.
c. Find the marginal product of capital per worker (MPk y/k) and describe the MPk.
d. Show that MPK = MPk.
e. Suppose =1/3. If population growth is 3% and the capital stock grows 6%, use t

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