Does deminnishing marginal returns apply to k

Reference no: EM13191748

Consider the following production function:
Y = AK^aL^(1-a), where Y is units of output, K is units of capital, and L is units of labor. Both A and are constant parameters characterizing the production technology.

Derive the function for the marginal product of K and of L. If 0<a<1, does deminnishing marginal returns apply to K? to L?

Reference no: EM13191748

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