(See Solution) An industry can be characterized by the following production function: Q=2.5L^0.6K^0.40 What is the algebraic expression for the marginal
Question:
An industry can be characterized by the following production function:
\[Q=2.5{{L}^{0.6}}{{K}^{0.40}}\]
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What is the algebraic expression for the marginal productivity of labor? -
What is the algebraic expression for the average productivity of labor?
- How would you characterize the returns-to-scale in the industry?
Deliverable: Word Document 
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