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Let a firm's long-run production function be
Q= 1/10LK +3L^2K-1/10L^3K

Assume that in the short-run the firm's labour input is fixed at 10 units.
a) What is the firm's short-run production function?
b) What are the short-run average and marginal product of capital functions?

Econometrics, Economics

  • Category:- Econometrics
  • Reference No.:- M9478115

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