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Intermediate Microeconomics and Its Application 12th Edition by Walter Nicholson,Christopher Snyder
Edition 12ISBN: 978-1133189022Intermediate Microeconomics and Its Application 12th Edition by Walter Nicholson,Christopher Snyder
Edition 12ISBN: 978-1133189022 Exercise 11
For the Cobb-Douglas production function in Problem 6.7, it can be shown (using calculus) that 
If the Cobb-Douglas exhibits constant returns to scale (a + b = 1), show that
a. Both marginal productivities are diminishing.
b. The RTS for this function is given by
c. The function exhibits a diminishing RTS.
If the Cobb-Douglas exhibits constant returns to scale (a + b = 1), show that
a. Both marginal productivities are diminishing.
b. The RTS for this function is given by
c. The function exhibits a diminishing RTS.
Explanation
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The Cobb-Douglas production function is ...
Intermediate Microeconomics and Its Application 12th Edition by Walter Nicholson,Christopher Snyder
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