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could you please help me with this question? 3.- You are running a manufacture startup that has the following production function: f (L, K) =
could you please help me with this question?
3.- You are running a manufacture startup that has the following production function: f (L, K) = (L -10) 0.5 10.5 a) (2 Points) Assuming that labor is flexible, what would be the minimum amount of labor that you need to run the company? Why?b) (2 Point) Find an expression for the marginal productivity of labor and the marginal productivity of capital. c) (2 Point) Find an expression for the marginal rate of technical substitutionStep by Step Solution
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