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Show that the Cobb-Douglas production function exhibits the law of diminishing marginal rate of technical substitution.
Jurisdiction
The legal authority granted to a court or governmental entity to make decisions and enforce laws.
Diversity Jurisdiction
Federal courts' authority to hear lawsuits involving parties from different states or countries, based on their diversity of citizenship.
Corporation
A firm that is authorized by statute to act as a legal entity separate and distinct from its owners (shareholders).
Federal Courts
Courts established by the federal government of a country, which have jurisdiction over matters outlined in the federal constitution.
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