Show the law of diminishing marginal productivity

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Reference no: EM131482312

Question: 1. Find ∂y/∂x and ∂y/∂z when

(a) y = 6 + 3x + 16z + 4x² +2z²

(b) y = 14x³z²

2. Show that the law of diminishing marginal productivity holds for the production function Q = 12K0.4L0.4. Will the MPL schedule take the shape shown in Figure?

Reference no: EM131482312

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