How do you evaluate whether economies of scope exist? A short-run production function was estimated asQ=0.002L^3 +
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Question:
- How do you evaluate whether economies of scope exist?
- A short-run production function was estimated asQ=0.002L^3 + 0.16L^2
a) At 20 units of labor, what is average product?
b) At 20 units of labor, what is total product?
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