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For the production function function Q = f(K, L) = 4K 1/3 + 4L 1/3 defined for K > 0 and L > 0, determine
For the production function function Q = f(K, L) = 4K1/3 + 4L1/3 defined for K > 0 and L > 0, determine an expression for the elasticity of substitution between K and L, assuming that the wage rate is w and the capital rental rate is r. Simplify the answer.
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