The production function for another country is z = x 0.8 y 0. 2 , where x
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The production function for another country is z = x0.8y0.2, where x stands for units of labor and y for units of capital. At present, 20 units of labor and 18 units of capital are being provided. Use differentials to estimate the change in production if an additional unit of labor is provided and if capital is decreased to 16 units.
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The change in production is 0348 unit 0802 ...View the full answer
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