please answer the following question with work shown thanks! 2) A productcan be made using tawo alernative techpologies, F and G :y=F CL) = 16 L%, and y-G(L) = 2L',where L is the amount of labour necessary to producey umits of output. (a) for what level of output doestechnology GL) become(6) Draw a graph showing the two production functions, F(L)and GU); identify the equal-output point%3Dmore efficient than the other?on the graph.

Answered: Image /qna-images/answer/c4bcb167-7b8a-4393-abb2-397c8ae42575.jpg

2) A product can lbe made using two alternative techpologies, F and G : y=FCL) = 16 L%, and y=GCL) = 2 L° , where L is the amount of labour necessary to produce y umts of output. (a) for what level of technology GIL) become (b) Draw a graph showing the two production functions, F(L) and GU); identifz the equal-output point on the graph. output does more efficient than the other?

2) A product can lbe made using two alternative techpologies, F and G : y=FCL) = 16 L%, and y=GCL) = 2 L° , where L is the amount of labour necessary to produce y umts of output. (a) for what level of technology GIL) become (b) Draw a graph showing the two production functions, F(L) and GU); identifz the equal-output point on the graph. output does more efficient than the other?

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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