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Business, 02.10.2019 01:00 limelight11

Atechnological breakthrough raises a country’s total factor productivity aby 10%. show how this change affects the graphs of both the production function relating output to capital and the production function relating output to labor. b.show that a 10% increase in aalso increases the mpkand the mpnby 10% at any level of capital and labor. (hint: what happens to δyfor any increase in capital, δk, or for any increase in labor, δ.can a beneficial supply shock leave the mpkand mpnunaffected? show your answer graphically.

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