If capital and labour are perfect complements then the marginal products of capital and labiour are undefined A True DFaise

During the 1920s, Charles Cobb and Paul Dougkas modeled totalproduction output P (of a firm, company or entire economy) as a function of labourhours involved x and capital invested y (each includes the monetary worth of allbuildings and equipment). The Cobb-Douglas production function isP(x, y) = k x^α y^(1−α),where k ad α are constants representative of a particular firm or economy.(1) Show that doubling of both labor and capital results in doubling productionP.(2) Suppose a particular firm has the production function for k = 120 andα =3/4. Assume each unit of labor costs $250 and each unit of capital costs$400, and that the total expense for all costs cannot exceed $100,000. Findthe maximum production level for the firm.(3) Compute the production level at x = 64 and y = 81. If the capital isdecreased by 3 units, by how many units the labor should be adjusted toso that there is not change in production level.

Suppose that the production function is What is the average product of labor AP₁, holding capital fixed at K? OA. APL = L-0.25 0.25 B. APL= q/L. O C. APL = 0.75L-0.250.25 q=L0.75K0.25 D. Both a and b. E. All of the above.

2. Consider the production function given by Y= altbK. The prices of labor and capital are wLand wK, respectively. a. Find the conditional input demand for L and K b. Find the cost function C. How will an increase in wk affect the labor demand in a? Show graphically d. If K is fixed at 10, find the conditional labor demand