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please do it in one hour please urgently... I'll give you up thumb definitely Question 2 Suppose you are producing goods for the handmade site
please do it in one hour please urgently... I'll give you up thumb definitely
Question 2 Suppose you are producing goods for the handmade site Etsy. Your production function F(T,E) = 11/3E2/3 depends on time T and effort E. Show that the production function has constant returns to scale and, therefore, that the marginal products are positive and decreasing. Provide an intuitive explanation of what a positive and decreasing marginal product means in this context and illustrate your answer graphically. Use a second example from outside economics to complement your answer. [30 marks]Step by Step Solution
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