Question: 2. Consider the following production function: Y = F1K, L2 = AK0.4L1.0 . a) Calculate the marginal product of labor. b) Does this production function

2. Consider the following production function: Y = F1K, L2 = AK0.4L1.0 . a) Calculate the marginal product of labor. b) Does this production function exhibit diminishing marginal product of labor

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