The Cobb-Douglas production function for a U.S. tobacco products firm is q = L 0.2 K 0.3

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The Cobb-Douglas production function for a U.S. tobacco products firm is q = L^0.2K^0.3 (see the Application “Returns to Scale in Various Industries” in Chapter 6). Derive the marginal revenue product of labor for this firm.

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Microeconomics

ISBN: 978-0134519531

8th edition

Authors: Jeffrey M. Perloff

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Question Posted: Nov 12, 2018 07:45 AM

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The Cobb-Douglas production function for a U.S. tobacco products firm is q = L 0.2 K 0.3

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Microeconomics

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