d. Find the cross-partial derivatives: Are they equal? ÕMPN/ÕH = ÕMPH/ON = %3D %3D e. Suppose that policy makers cannot control nutrition, which is fixed in the short run at Ns = 27. In the short run, life expectancy is a function of health spending only. Write and simplify the short run production function with N = 27. This is just the Total Product function for input H: L = L(Ns, H) = TPH = %3D %3D %3D f. Find values of L associated with the levels of H in the table. Graph the TPH curve. H. 8 64 216 512

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Chapter1: Making Economics Decisions
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I want to check if I am going in the right direction with my math could I get feedback or guidance for the next part
4(25+3(2)
1/3
1/2
d. Find the cross-partial derivatives: Are they equal?
ÕMPH/ON =
OMPN/ÕH =
e. Suppose that policy makers cannot control nutrition, which is fixed in the short
run at Ns = 27. In the short run, life expectancy is a function of health spending
only. Write and simplify the short run production function with N = 27. This is just
the Total Product function for input H:
L = L(Ns, H) = TPH =
f. Find values of L associated with the levels of H in the table. Graph the TPH curve.
H.
8.
64
216
512
auacdrane dounward
6. Cubic Total Product Curve
b. Find the
Transcribed Image Text:4(25+3(2) 1/3 1/2 d. Find the cross-partial derivatives: Are they equal? ÕMPH/ON = OMPN/ÕH = e. Suppose that policy makers cannot control nutrition, which is fixed in the short run at Ns = 27. In the short run, life expectancy is a function of health spending only. Write and simplify the short run production function with N = 27. This is just the Total Product function for input H: L = L(Ns, H) = TPH = f. Find values of L associated with the levels of H in the table. Graph the TPH curve. H. 8. 64 216 512 auacdrane dounward 6. Cubic Total Product Curve b. Find the
5. Health Expenditure, Nutrition, and Life Expectancy
Q = Q(x, L) = 2k'½ L%
> Let:
L = life expectancy in years
N = measure of average nutrition
H = per capita expenditures on health care
11
> The production function for life expectancy is: L = L(N, H)
= 2NH½
a. Does the production function show constant, increasing, or decreasing returns to
scale? Show.
Constant
b. Find expressions for the marginal products MPn and MPH.
Are both marginal products positive?
-3 2/3
-/3
13
MPH =
MPN =
AS long as the Marginal Product is greater than the Auerage Produet
c. Find the second partial derivatives ÕMPN/õN and ÕMPH/TH.
Are both marginal products diminishing?
X Jugr
2/3
OMPH/SH =
ÕMPN/ON =
aN
Transcribed Image Text:5. Health Expenditure, Nutrition, and Life Expectancy Q = Q(x, L) = 2k'½ L% > Let: L = life expectancy in years N = measure of average nutrition H = per capita expenditures on health care 11 > The production function for life expectancy is: L = L(N, H) = 2NH½ a. Does the production function show constant, increasing, or decreasing returns to scale? Show. Constant b. Find expressions for the marginal products MPn and MPH. Are both marginal products positive? -3 2/3 -/3 13 MPH = MPN = AS long as the Marginal Product is greater than the Auerage Produet c. Find the second partial derivatives ÕMPN/õN and ÕMPH/TH. Are both marginal products diminishing? X Jugr 2/3 OMPH/SH = ÕMPN/ON = aN
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