Consider the following production function that depends only on labor:Q = 8L¹/2 1. Write a combination of input and output that are technically efficient. In other words, for what level of L and Q, is the technology efficient? 2. Write a combination of input and output that are technically inefficient. In other words, for what level of L and Q, is the technology inefficient? 3. Write a combination of input and output that are technically unattainable. In other words, for what level of L and Q, is the technology unattainable?
Consider the following production function that depends only on labor:Q = 8L¹/2 1. Write a combination of input and output that are technically efficient. In other words, for what level of L and Q, is the technology efficient? 2. Write a combination of input and output that are technically inefficient. In other words, for what level of L and Q, is the technology inefficient? 3. Write a combination of input and output that are technically unattainable. In other words, for what level of L and Q, is the technology unattainable?
Chapter9: Production Functions
Section: Chapter Questions
Problem 9.2P
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![Consider the following production function that depends only on labor:Q = 8L¹/2
1. Write a combination of input and output that are technically efficient. In other words, for
what level of L and Q, is the technology efficient?
2. Write a combination of input and output that are technically inefficient. In other words, for
what level of L and Q, is the technology inefficient?
3. Write a combination of input and output that are technically unattainable. In other words,
for what level of L and Q, is the technology unattainable?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5d8fb038-8950-47bc-91e9-50d922788bb9%2F5a3c8cdc-e14b-4b24-88bc-bed160c704de%2F1yj4j6q_processed.png&w=3840&q=75)
Transcribed Image Text:Consider the following production function that depends only on labor:Q = 8L¹/2
1. Write a combination of input and output that are technically efficient. In other words, for
what level of L and Q, is the technology efficient?
2. Write a combination of input and output that are technically inefficient. In other words, for
what level of L and Q, is the technology inefficient?
3. Write a combination of input and output that are technically unattainable. In other words,
for what level of L and Q, is the technology unattainable?
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