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Suppose That a Firm's Production Function Is

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Suppose that a firm's production function is Suppose that a firm's production function is . Use calculus to find the marginal rate of technical substitution and discuss how MRTS<sub>LK</sub> changes as the firm uses more labor, holding output constant. . Use calculus to find the marginal rate of technical substitution and discuss how MRTSLK changes as the firm uses more labor, holding output constant.

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Use the marginal products to solve for t...

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