Use the Cobb-Douglas production function to answer the following questions Y=F(K,L)= K α
L 1−α
1. If K=4,L=16, and α=0.5, find the value of Y or output 5 points 2. If K=4, and labor increased to 36 , and α=0.5, find the value of Y and the marginal product of labor (how many more was added to output after labor increased) 5 points 3. If capital increased to 25,L=16 and α=0.5, find the value of Y and the marginal product of capital (how many more was added to output after capital increased) 5 points 4. What is the value of output if the level of capital and labor from part 1 is doubled and income share among the factors remain the same? 5 points