Business, 14.06.2021 18:40 juliannabartra

Suppose life expectancy in years (L) is a function of two inputs, health expenditures (H) and nutrition expenditures (N) in hundreds of dollars per year. The production function is Upper L equals cH Superscript 0.40 Baseline Upper N Superscript 0.60L=cH0.40N0.60. Beginning with c = 1, a health input of $400400 per year (Hequals=44) and a nutrition input of $400400 per year (Nequals=44), show that the marginal product of health expenditures and the marginal product of nutrition expenditures are both decreasing. The marginal product of health expenditures when H goes from 44 to 55 is nothing, and the marginal product of health when H goes from 66 to 77 is nothing. (Round your answers to three decimal places.)

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Suppose life expectancy in years (L) is a function of two inputs, health expenditures (H) and nut...

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