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Question 1: we are going to be working with our usual production function: YORK,L)-AK^(1/3)L(2/3). Part A: Suppose that in country X, A-10 K-64 L-27 What
Question 1: we are going to be working with our usual production function: YORK,L)-AK^(1/3)L(2/3). Part A: Suppose that in country X, A-10 K-64 L-27 What is output?Media D Question 4 2 pits Part C: Comparing your answers from parts A and B, you see that this production function exhibits for capital. Diminishing Returns Increasing Returns Constant Returns 2 pts D Question 5dia D Question 5 2 pts Part D. Now suppose that K had remained the same at 64, but Labor had doubled from 27 to 54. What is output now? 2 pts Question 6 answers from parts A and D. you see that this production function exhibits
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