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Algebraic expression for the marginal productivity

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Reference no: EM132401133

An industry can be characterized by the following production function:

Q = 2.5L.60 C.40 

(a) What is the algebraic expression for the marginal productivity of labor? 

(b) What is the algebraic expression for the average productivity of labor? 

(c) How would you characterize the returns-to-scale in the industry?

Reference no: EM132401133

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