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(Solved): Consider the Cobb-Douglas Production function: \[ P(L, K)=17 L^{0.1} K^{0.9} \] where \( P \) is the ...



Consider the Cobb-Douglas Production function: \[ P(L, K)=17 L^{0.1} K^{0.9} \] where \( P \) is the total production (the monetary value of all goods produced in a year), \( L \) is the amount of labor (the total number of person-hours worked in a year), and \( K \) is the amount of capital invested (the monetary worth of all machinery, equipment, and buildings). Find the marginal productivity of labor and marginal productivity of capital when 18 units of labor and 10 units of capital are invested. Report your answer to 2 decimal places if necessary. Marginal Productivity of Labor when \( L \) is 18 and \( K \) is \( 10= \) Marginal Productivity of Capital when L is 18 and K is \( 10= \)



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