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(Solved): Determine the output expansion path (equation) for a cobb-Douglass production function f(K, L) = 10L ...



Determine the output expansion path (equation) for a cobb-Douglass production function f(K, L) = 10L^aK^(1-a). how does the shape of the output expansion path change as the coefficient "a" changes? (use the cost minimization condition such that the slope of the isoquant (MRTS) equal to the slope of the isocost line)



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