The changes in values of marginal product and average product according to the given equation.

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Chapter 6.2, Problem 1MQ

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To describe: The changes in values of marginal product and average product according to the given equation.

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Consider the following production function: Q = (6L + 3K)¹/2 1. What is the Marginal Product of Labor (MPL)? What is the Marginal Product of Capital (MPK)? Are they diminishing? 2. What is the Average Product of Labor (APL)? What is the Average Product of Capital (MPK)? 3. What is the TRSL,K? Is the absolute value of TRSLK diminishing in L or K? 4. Are there constant, decreasing, or increasing returns to scale?

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