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QUESTION
a firm has a cobb douglas production function q= AL^aK^b, where a+b is =1. what properties does this cost function have.
what properties does this cost function have.
a firm has a cobb douglas production function q= AL^aK^b, where a+b is <=1. what properties doesthis cost function have.Returns to scale =a+b ••• Cost functions are concave in input...