BBT produces 137.5 units daily. The productivity factor of BBT's production is 2.75 and has elasticities of capital and labor of 0.4 and 0.6, respectively. In addition, the capital input used in its production is 55, 137.5, 275, and 343.75. How much is the labor input if the capital input to produce these units is 137.5? Round your answer to one decimal place.

BBT produces 137.5 units daily. The productivity factor of BBT's production is 2.75 and has elasticities of capital and labor of 0.4 and 0.6, respectively. In addition, the capital input used in its production is 55, 137.5, 275, and 343.75. How much is the labor input if the capital input to produce these units is 137.5? Round your answer to one decimal place.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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