Using the Cobb-Douglas production $Y = \bar { A } K ^ { 1 / 4 } L ^ { 3 / 4 }$
, the marginal product of labor, or the real wage, is $3 / 4 \cdot \frac { \bar { A } K ^ { - 1 / 4 } } { L ^ { 1 / 4 } }$
.

Question

Using the Cobb-Douglas production $Y = \bar { A } K ^ { 1 / 4 } L ^ { 3 / 4 }$ 
, the marginal product of labor, or the real wage, is $3 / 4 \cdot \frac { \bar { A } K ^ { - 1 / 4 } } { L ^ { 1 / 4 } }$ 
.

Quizplus · Accepted Answer

The marginal product of labor is the derivative of the production function with respect to labor, which is $3 / 4 \cdot \frac { \bar { A } K ^ { - 1 / 4 } } { L ^ { 1 / 4 } }$.

Using the Cobb-Douglas Production Y=AˉK1/4L3/4Y = \bar { A } K ^ { 1 / 4 } L ^ { 3 / 4 }Y=AˉK1/4L3/4

Using the Cobb-Douglas Production $Y = \bar { A } K ^ { 1 / 4 } L ^ { 3 / 4 }$