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ans of these 2 attached questions Q1) The wage rate of labor is Rs. 6 and price of capital is Rs. 2. The marginal product

ans of these 2 attached questions

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Q1) The wage rate of labor is Rs. 6 and price of capital is Rs. 2. The marginal product of labor is 16 while marginal product of capital is 4. Can a firm be operating at equilibrium? Q2) Complete the table and show your calculation No. of Total product Marginal product variable of variable input Average product of variable input inputs 3 18 30 4 20 130 6 5 7 19.5 Does the production function stated in the table given above exhibit diminishing returns? If so, at what no. of units of variable inputs do diminishing marginal return begin

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