5.4 The production function for the automotive and parts industry is q = L0.27K0.16M0.61, where M is
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5.4 The production function for the automotive and parts industry is q = L0.27K0.16M0.61, where M is energy and materials (based loosely on Klein, 2003). What kind of returns to scale does this production function exhibit? What is the marginal product of energy and materials? (See Solved Problem 6.5) M
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