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Business, 13.03.2020 02:22 zackinator4894

Suppose that the production function faced by a 30-weight ball bearing producer is given by Q=4K0.5L 0.5. Do both labor and capital display diminishing marginal products? Find the marginal rate of technical substitution for this production function. (Hint: MRTS = MPL/MPK.) Does this production function display a diminishing marginal rate of substitution?

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Suppose that the production function faced by a 30-weight ball bearing producer is given by Q=4K0.5L...
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