6.14. Consider the following production functions and their associated marginal products. For each production function, determine the

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6.14. Consider the following production functions and their associated marginal products. For each production function, determine the marginal rate of technical substitution of labor for capital, and indicate whether the isoquants for this production function exhibit diminishing marginal rate of technical substitution.

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Microeconomics

ISBN: 9780470563588

4th Edition

Authors: David Besanko, Ronald Braeutigam

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