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Find the marginal product of different inputs or factors of production for each of the following production functions. (a)(,)=62+3+22. Here, the firm uses two inputs
Find the marginal product of different inputs or factors of production for each of the following production functions.
(a)(,)=62+3+22.
Here, the firm uses two inputs and to produce output. The marginal products are
and with
=(,)/.
The other marginal product can be defined in the same manner.
(b)(,)=0.522+2.
Here, the firm uses two inputs and
to produce output. The marginal products are
and.
These can be defined as in part (a) above.
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