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Economics

Question: 1. If each input is paid the value of its marginal product, will this exhaust a firm's total revenue if the relevant production function is

(a) Q = 4K + 1.5L?

(b) Q = 8K^0.4L^0.3?

2. If y = 40x0.4z0.3 and x = 5z0.25, find the total effect of a change in z on y.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M92291054

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