6.13. You might think that when a production function has a diminishing marginal rate of technical substitution
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6.13. You might think that when a production function has a diminishing marginal rate of technical substitution of labor for capital, it cannot have increasing marginal products of capital and labor. Show that this is not true, using the production function Q ! K2 L2
, with the corresponding marginal products MPK ! 2KL2 and MPL !
2K2 L.
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