A Cobb-Douglas production function is Q = 12L.6K.5. What happens to Q if L increases by 1%?
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A Cobb-Douglas production function is Q = 12L.6K.5. What happens to Q if L increases by 1%? If K increases by 1%? What can you say about returns to scale?
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Introductory Regression Analysis With Computer Application For Business And Economics
ISBN: 9780415899338
1st Edition
Authors: Allen Webster
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