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Consider the production function Q = 2(KL) 0.5 a) What is the marginal product of labour and capital (1 marks) b) What is the marginal
Consider the production function Q = 2(KL) 0.5 a) What is the marginal product of labour and capital (1 marks) b) What is the marginal rate of technical substitution of labor for capital (2 marks) c) What is the elasticity of substitution at a point K = 1, L = 1 if we increase K by one unit? (2 marks
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Business Mathematics In Canada
Authors: Ernest Jerome
7th edition
978-0071091411, 71091416, 978-0070009899
