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1.Suppose a hypothetical economy has the following production function: Y = F(L,K) = L + K a.Calculate the Marginal Product of Capital b. Calculate the

1.Suppose a hypothetical economy has the following production function:

Y = F(L,K) = L + K

a.Calculate the Marginal Product of Capital

b. Calculate the Marginal Product of Labor

c.Is this production function exhibit constant, diminishing, or increasing marginal product of labor? Show it.

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