Question: Prove Euler's theorem that, if f(L, K) is homogeneous of degree ( (see Exercise 5.7), then L((f/(L) + K((f/(K) = (((L, K). Given this result,

Prove Euler's theorem that, if f(L, K) is homogeneous of degree ( (see Exercise 5.7), then L((f/(L) + K((f/(K) = (((L, K). Given this result, what can you conclude if a production function has constant returns to scale? Express your results in terms of the marginal products of labor and capital.

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