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Consider the production function Q=L1/2+K2.

a)What is the expression for METAL,K given this production function?

b )Does this production function exhibit diminishing marginal product of capital? Explain how you know.

c) Does this production function exhibit diminishing marginal product of labour? Explain how you know

d) Does this production function exhibit diminishing marginal rate of substitution (L for K)? Explain how you know.  

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M9694050

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