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Show that the Cobb-Douglas production function Y = AK^alpha L^ beta satisfies the equation L dY/dL +K dY/dK = (alpha + beta)Y The constants
Show that the Cobb-Douglas production function Y = AK^alpha L^ beta satisfies the equation L dY/dL +K dY/dK = (alpha + beta)Y The constants alpha and beta are fixed, L is labor and K is capital.
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Microeconomics An Intuitive Approach with Calculus
Authors: Thomas Nechyba
1st edition
538453257, 978-0538453257
