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COULD YOU PLEASE SOLVE THOSE QUESTIONS IN DETAILS? THANK YOU Suppose a firm's production function is Y = f(K,L) = IOKL x/IT , where K

COULD YOU PLEASE SOLVE THOSE QUESTIONS IN DETAILS? THANK YOU

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Suppose a firm's production function is Y = f(K,L) = IOKL x/IT , where K and L evolve overtime according to K(t) = t/5 + 5 and L(t) = 56/1\". Find dY/dt and evaluate it at t = 0 using the chain rule. Does this imply that production is initially increasing or decreasing at that time? A. Increasing (f):- Decreasing

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