For the following rice production function:

Q = 80 ( K ^{0.6} L ^{0.4})

- Beginning with K=5 and L=37, find out if the marginal product of both K and L is decreasing. Show your work.

- Does the production function exhibit increasing, decreasing, or constant returns to scale? Show your work.

- Why does it matter to know about what you found in a. and b. above?

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