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3) The management of Cobb and Douglas Ltd are trying to work out if they should expand their business. Their accountants and engineers have provided

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3) The management of Cobb and Douglas Ltd are trying to work out if they should expand their business. Their accountants and engineers have provided them with details of their company which they are working through to make a capital investment decision. The engineers have informed them that the overall production structure of the company can be described by y = 4K1/2L'/2, where y is output, K is capital

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