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Determine the effect on output of two additional

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Reference no: EM131631419

Given the production function Y = 10K^0.4N^0.6

1) Using the concept of the differential, determine the effect on output of two additional units of labor when K = 8, N = 20

2) Using the concept of the differential, determine the effect on output of two additional units of capital when K = 8, N = 20

Reference no: EM131631419

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