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Production function and marginal product of labor

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Reference no: EM131961925

Assume Knappy Knickers has the following production function and marginal product of labor:

Y=L1/3 and MPL= 1/3L2/3

USE LEVELS OF LABOR equal to 10, 11 and 12 to show that this function exhibits diminishing marginal returns to labor. Clearly use your results to justify your answer. Round your answers to three decimal places.

Reference no: EM131961925

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