Te production of an economy is explained by a function y


The production of an economy is explained by a function: Y = 20 (L.5K.5) where L is labor and K is capital with L = 400 and K = 400. Does this economy support constant returns to scale? Please calculate the marginal product of labor and marginal product of capital.

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Macroeconomics: Te production of an economy is explained by a function y
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