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A firm's production is given by
q = 5L2/3 K1/3
(a) Calculate APL and MPL. Determine if the production function exhibits the law of diminishing marginal returns. Calculate the output (production) elasticity with respect to labor.
(b) Calculate MRTS. Determine if the production function exhibits the law of diminishing MRTS.
(c) Show with appropriate calculations if the production technology exhibits, increasing, decreasing or constant returns to scale.
Suppose this is true. How does it affect McDonald's responsibilities? Given that McDonald's serves millions of cups of coffee every week, how important are a few hundred complaints about its coffee being too hot
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resistance to change amongst employeesemployees often resist change becausethey are often old and old people dont like
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