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Suppose that the Cobb-Douglas production function for a U.S. tobacco products firm is q = L0.74 0.35 Derive the marginal revenue product of labor for
Suppose that the Cobb-Douglas production function for a U.S. tobacco products firm is q = L0.74 0.35 Derive the marginal revenue product of labor for this firm. Let MR be marginal revenue. The marginal revenue product of labor, MRP , is O A. MRP, = MR X0.74 O B. MRP, = MR x0.74L-0.2610.35 O C. MRP, = 0.74 O D. MRP, = MR XL-0.26 0.35 O E. Both a and b
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