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Cobb-douglas production function

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Reference no: EM132503262

A two-input (using capital and labor) Cobb-Douglas production function takes the form:

y = a0KaLb

where K is capital and L is labor.

(a) If a + b = 1, what happens to output if you increase both K and L by some multiple, m?

Reference no: EM132503262

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