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Suppose that a firm's production can be described by a Cobb-Douglas production function: Q = f(L,K) = AL“KB where A is t
Posted: Thu May 19, 2022 7:22 am
by answerhappygod
- Suppose That A Firm S Production Can Be Described By A Cobb Douglas Production Function Q F L K Al Kb Where A Is T 1 (24.37 KiB) Viewed 35 times
Suppose that a firm's production can be described by a Cobb-Douglas production function: Q = f(L,K) = AL“KB where A is the technology level; L and K are labor and capital, respectively; a and B are parameters. Then, the MRTS of labor for capital: (A) increases if the amount of labor input increases. (B) decreases if the amount of capital input increases. (C) is constant (D) equals (a/b)x(K/L).