Consider the production function (Q is the quantity of goods produced) 1 K³/4 L7/2 where K is the capital and L is the labour. (a) Find the value of Q when K = 81 and L = 16. (b) What happens to the value of Q if we double both the labour and the capital? (Call the new value Q and write it in terms of the original one). (c) Find an expression for In Q in terms of In K and In L.

Consider the production function (Q is the quantity of goods produced) 1 K³/4 L7/2 where K is the capital and L is the labour. (a) Find the value of Q when K = 81 and L = 16. (b) What happens to the value of Q if we double both the labour and the capital? (Call the new value Q and write it in terms of the original one). (c) Find an expression for In Q in terms of In K and In L.

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,...

See similar textbooks

Related questions

Q: Q = 30K1/4L3/4 (a) Find Q if K = $20,736 and L = 625 hours. (b) Show that if both K and L are…

A: The given equation for Q is

Q: time period. Over what range (in kwh) did the usage vary?

Q: An investment grows according to the formula B = 8000 x 1.0085¹ dollars, where it is time, measured…

A: We have to solve given Questions.

Q: Consider the following. (Give your answers correct to one decimal place.) (a) Find the value x(7,…

A: Solution: given the degree of freedom and probability for each case. We have to find the critical…

Q: Have you ever heard of Chamberlain's formula, which claims to be a model that tells you how many…

A: Given thatG=new car's gas mileage=33M=old car's gas mileage=13C=the cost of the new car=30000D=the…

Q: (a) Find the value x(16, 0.025). (b) Find the value x(21, 0.005). (c) Find the value x(70, 0.025).…

A: Chi Square test is used to analyse the frequencies of two variables with multiple categories to…

Q: ne stray cat population in the long run?

Q: An investment grows according to the formula B = 8000 x 1.0065* dollars, where t is time, measured…

Q: (1/64)3n x 8 =26

A: Formula:

Q: Melinda invested $1000 in a retirement account. The formula below shows the amount of money, A, that…

Q: (b) Tara's aunt invests $2000 for her when she is born. The interest rate is 3.5% per year. This…

A: (b) i) Let the required time be T years. Then, we must have 2000×(1.035)T = 2250…

Q: The product of 3/4 and 12 is more than 12. T/F

A: The product of 34 and 12 is more than 12. We have to determine whether the statement is true or…

Q: An investment grows according to the formula B = 6000 x 1.0065 dollars, where t is time, measured in…

A: An investment grows according to the formula B=6000×1.0065t dollars where 't' is time (in months).

Question

(a) Find the value of Q when K = 81 and L = 16.
(b) What happens to the value of Q if we double both the labour and the
capital? (Call the new value Q˜ and write it in terms of the original one).
(c) Find an expression for ln Q in terms of ln K and ln L.

Consider the production function (Q is the quantity of goods produced)
1
K³/4L7/2
where K is the capital and L is the labour.
(a) Find the value of Q when K = 81 and L = 16.
(b) What happens to the value of Q if we double both the labour and the
capital? (Call the new value Q and write it in terms of the original one).
(c) Find an expression for In Q in terms of In K and In L.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Similar questions

measured in cycles per second. As the frequency is increased, the eye initially perceives a series of flashes of light, then a coarse flicker, a fine flicker, and ultimately a steady light. The frequency at which the flickering disappears is called the fusion frequency. The table below shows the results of an experiment in which the fusion frequency F was measured as a function of the light intensity 1. I 0.8 1.9 4.4 10 21.4 48.4 92.5218.7 437.3 980 F 8 12.1 15.2 18.5 21.7 25.3 28.3 31.9 35.2 38.2 (a) Find a logarithmic model (e.g. F = a In(I) + b ) for the data using the first and last data points in the table. (Round constants to two decimal places) F = (b) How well does the model in part (a) agree with the actual fusion frequency observed at intensity 437.3? The model predicts a frequency of as compared to the observed frequency of (c) How well does the model in part (a) agree with the observed intensity when determining a fusion frequency of 25.3? The model predicts an intensity of…
How to solve 7/10x = 4 3/5...solve for x
solve the equation 3/2=x + 1/ 4
A large tank contains 140 litres of water in which 20 grams of salt is dissolved. Brine containing 15 grams of salt per litre is pumped into the tank at a rate of 6 litres per minute. The well mixed solution is pumped out of the tank at a rate of 3 litres per minute. (a) Find an expression for the amount of water in the tank after t minutes. (b) Let x(t) be the amount of salt in the tank after t minutes. Which of the following is a differential equation for x(t)? (A) (E) (I) dt 90 || 3 x(t) 140 + 3t 6 (B) d 6 x(t) 140 + 3t 3 x(t) 140 + 6t dt dx dx 3 = 90 − x(1) (F) = 18 - 1*(7) (G) = 18 - dt dt 140 x(t) (C) dx dt = 18 3 x(t) 140 + 6t 6 x(t) 140 + 6t (D) (H) dx = 90 3 140 x(t) 6 x(t) 140 + 3t
Suppose that the number y of otters t years after otters were reintroduced into a wild and scenic river is given by the formula below. y = 2500 - 2490e-0.1t (a) Find the population when the otters were reintroduced (at t = 0). otters (b) How long will it be before the otter population numbers 1600? (Round your answer to one decimal place.) yr Need Help? Master It Read It Submit Assignment Save Assignment Progress Home My Assignments +Request Extension Copyright © 1998 - 2021 Cengage Learning, Inc. All Rights Reserved TERMS OF USE PRIVACY NOV A stv A W 13
The area covered by a marsh, A, starts at 130 acres and drops by a factor of 14 each year for n years. Write a formula for A=f(n).
please solve it as soon as possible
1. Exponential Question Solve the following equation with steps.
13x/5=0 what is x
100% (3) An off-shore oil rig is experiencing a significant leak that is form- ing an expanding circular oil slick. When the slick is first dis- covered (at t = 0) it had a 20m radius. If the radius is given by the equationr= 20+ 10t (where t is measured in hours and r is in meters), find a formula for the area of the slick. What is the area of the oil slick when =12 7
A = P (1+)* nt Use the correct formula: A = Pert %3D You are considering two investments. One earns interest at 0.9% compounded bi-annually, and the other earns interest that is compounded continuously at 0.895%. You have $100,000 to invest, and plan to leave it there for 10 years. Barring changes in the interest rate, in which should you invest? What is the difference at the end of 10 years?
Brain Mass The mass (in grams) of the human brain during the last trimester of gestation and the first two years after birth can be approximated by the function 1500 m(c) 100 where c is the circumference of the head in centimeters. Source: Early Human Development. (a) Find the approximate mass of brains with a head circum- ference of 30, 40, and 50 cm. (b) Clearly the formula is invalid for any values of c yielding negative values of w. For what values of c is this true? (c) Use a graphing calculator to sketch this graph on the inter- val 20 scs 50. (d) Suppose an infant brain has mass of 700 g. Use features on a graphing calculator to find what the circumference of the head is expected to be.