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Presume an economy's output depended on capital (K) and labor (L), and was determined by the function F(K,L) = 50(K^0.7)(L^0.3). Presently, there are 200 units of capital and 600 units of labor. Based on partial derivatives, by much would you expect output to increase if capital was increased by one unit while labor was held fixed? (Just type the answer and round to two decimal places)

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91226979

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