Question: Consider the production function in Learning-By-Doing Exercise 7.6: Q = L + K + M. For this production function, the marginal products of labor, capital,

Consider the production function in Learning-By-Doing Exercise 7.6: Q = √L + √K + √M. For this production function, the marginal products of labor, capital, and materials are MPL = 1/(2√L), MPK = 1/(2√K), and MPM = 1/(2√M). Suppose that the input prices of labor, capital, and materials are w = 1, r = 1, and m = 1, respectively.

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