Question
production fx: f(L,K) = (3L^0.2)(K^0.5) a) Does this production function show increasing, constant, or decreasing return to scale? b) What is Marginal Rate of Technical
production fx: f(L,K) = (3L^0.2)(K^0.5)
a) Does this production function show increasing, constant, or decreasing return to scale?
b) What is Marginal Rate of Technical Substitution for this function?
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Managerial Economics Applications, Strategies and Tactics
Authors: James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
13th edition
1285420926, 978-1285962399, 978-1285947853, 1285947851, 978-1285420929
