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Starting from the product function: q = 1000K0

Question # 00608431
Subject: Economics
Due on: 10/27/2017
Posted On: 10/27/2017 01:35 PM

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Starting from the product function: q = 1000K0.4 L 0.8. Define the marginal technical substitution rate and find the expression of the marginal technical substitution rate with the given product function. Assume that the price per unit of capital (s) is 50, while the price per unit of labor (w) is 100. How should the production factors be combined in production as given above?

Tags 1000k0 function product starting production rate given price unit substitution technical function product marginal labor combined factors capital expreion 1000k04 define starting aume

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Starting from the product function: q = 1000K0

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