Macroeconomics
Macroeconomics
10th Edition
ISBN: 9780134896441
Author: ABEL, Andrew B., BERNANKE, Ben, CROUSHORE, Dean Darrell
Publisher: PEARSON
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Chapter 3, Problem 2NP

(a)

To determine

Graphical relationship between output and capital, keeping labor constant at given current value. MPK and its returns to scale.

(b)

To determine

Graphical relationship between output and labor, keeping capital constant at given current value. MPL and its returns to scale.

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