Suppose the production function is q 152l6k4 and k 100 a, Econometrics

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Suppose the production function is q 152l6k4 and k 100 a

Suppose the production function is Q = 1.52L.6K.4, and K = 100.

a. What is the equation for the average product of labor? If L=50, what is the value of the average product of labor?

b. What is the equation for the marginal product of labor? If L=50, what is the value of the marginal product of labor?

c. What is the equation for the marginal rate of technical substitution? If L=50, what is the value of the marginal rate of technical substitution?

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Econometrics: Suppose the production function is q 152l6k4 and k 100 a

Reference No:- TGS0577249

Have a Question? (oR Write a Review)

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Request for Solution File

Ask an Expert for Answer!!

Econometrics: Suppose the production function is q 152l6k4 and k 100 a

Reference No:- TGS0577249

Recent Questions Asked Econometrics

Q : If 100 grams of liquid water at 100 c and 200 grams of

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Q : Suppose the production function is q 152l6k4 and k 100 a

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Q : A parallel-plate capacitor is constructed with circular

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