Question: Suppose that the production function were Y = A K1/4L3/4. Assume that A = 100,000, and that the current level of the capital stock is

Suppose that the production function were Y = A K1/4L3/4. Assume that A = 100,000, and that the current level of the capital stock is 10,000.
a. Find the marginal product of labor.
b. Graph the marginal product of labor.
c. Graph the production function, putting labor on the horizontal axis and assuming that capital is constant.
d. What would happen to the marginal product of labor and the production function if the capital stock increased to 20,000?

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