Question

b) The Production function is given below: Q=96K0.3 Lº.7 Find the MPPK and MPP, functions. Is MPPK a function of K alone?​

Answer 1

Answer:

Transcribed image text: Given the production function Q = 96 K^0 3 L^0 7, find the MPP_K and MPP_L functions. Is MPP_K a function of K alone, or of both K and L? What about MPP_L? If the utility function of an individual takes the form

Answer 2

Answer:

Transcribed image text: Given the production function Q = 96 K^0 3 L^0 7, find the MPP_K and MPP_L functions. Is MPP_K a function of K alone, or of both K and L? What about MPP_L? If the utility function of an individual takes the form.

Explanation:

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