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A firm uses two inputs to produce its output via Cobb - Douglas production function Q = K L where = 0 . 4 and
A firm uses two inputs to produce its output via CobbDouglas production function where and Its currentlevel of inputs is The firm will introduce a new technology that will change the exponent on its production function to with no change to Use differential calculus to estimate the input combination which will keep the total output the same, and the sum of the inputs the same. What's your conclusion? Hint: Work with the system or better and pointsPlease use handwriting no ai answer please
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