Suppose that a firm?s production function is given by ?where ?and? a. As L increases, what happens

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Suppose that a firm?s production function is given by ?where ?and?

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a. As L increases, what happens to the marginal product of labor?

b. As?K increases, what happens to the marginal product of labor?

c. Why would the?MPL change as?K changes?

d. What happens to the marginal product of capital as?K increases? As?L increases?

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Microeconomics

ISBN: 9781319105563

3rd Edition

Authors: Austan Goolsbee, Steven Levitt, Chad Syverson

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