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What is the average production of labour

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Reference no: EM132505392

You are given the production function: Q(K,L) =4K0.6L0.4

What is the average production of labour, holding capital fixed at K? Simplify Fully

What is the marginal rate of technical substitution (MRTS)? Simplify fully

Does the above function exhibit increasing, decreasing or constant returns to scale Illustrate why and explain what this means

Reference no: EM132505392

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