Question: 1. 5.8 Show that with a constant-returns-to-scale production function, the MRTS between labor and capital depends only on the K/L ratio and not on the

1. 5.8 Show that with a constant-returns-to-scale production function, the MRTS between labor and capital depends only on the K/L ratio and not on the scale of produc tion. (Hint: Use your result from Exercise 5.7.) M

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