You are given the production function: Q(K,L) =4K 0.6 L 0.4 What is the average production of

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You are given the production function: Q(K,L) =4K^0.6L^0.4

What is the average production of labour, holding capital fixed at K? Simplify Fully

What is the marginal rate of technical substitution (MRTS)? Simplify fully

Does the above function exhibit increasing, decreasing or constant returns to scale Illustrate why and explain what this means

Posted Date: Jun 23, 2024 06:01 AM

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You are given the production function: Q(K,L) =4K 0.6 L 0.4 What is the average production of

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