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Consider the following production function Y = F(K; L) = AK + BL; which is not neoclassical. Compute the output per person and the marginal
Consider the following production function
Y = F(K; L) = AK + BL;
which is not neoclassical.
Compute the output per person and the marginal product of capital. Show that the average product of capital is B = A+ K where y = - Y T and k = KStep by Step Solution
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