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Question

0 and b > 0.
a. The marginal product of labor is
MPl=
b. The marginal product of labor is
MPk=
c. The marginal rate of technical substitution is
MRTS=
d. Show that the isoquants for this production function are convex. (Show that MRTS diminishes as L increases. Why?)
e. Derive the equation for the long-run expansion path.

 

Solution ID:351106 | This paper was updated on 26-Nov-2015

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