Consider the Cobb-Douglas production function Q = 36 K 0.5 L 1.0 . a. Find the marginal

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Consider the Cobb-Douglas production function Q = 36 K^0.5 L ^1.0.

a. Find the marginal product functions.

b. Write equations for the MRTS and the output elasticities.

c. The function coefficient is equal to, so the production function is characterized by returns to scale.

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Managerial Economics Foundations of Business Analysis and Strategy

ISBN: 978-0078021718

11th edition

Authors: Christopher Thomas, S. Charles Maurice

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Question Posted: Nov 18, 2014 04:21 AM

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Consider the Cobb-Douglas production function Q = 36 K 0.5 L 1.0 . a. Find the marginal

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Managerial Economics Foundations of Business Analysis and Strategy

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