A bowling ball manufacturer has the Cobb-Douglas Productivity Model Q(x,y) = 0.73x0.7°y0.20, where x is labor (in thousands of employees); y is capital (in thousandsof dollars); andQ is the number of bowling balls produced (in thousands).......a) Find Q, and Qy.(Simplify your answer. Use integers or decimals for any numbers in the expression. Round to the nearest hundredth as needed. Type your answer using exponentialnotation.)(Simplify your answer. Use integers or decimals for any numbers in the expression. Round to the nearest hundredth as needed. Type your answer using exponentialnotation.)b) If the factory currently uses 13,500 employees and $1,400,000 of capital, find the marginal productivity of labor and the marginal productivity of capital.The marginal productivity of labor is.(Round to the nearest whole number as needed.)The marginal productivity of capital is.(Round to two decimal places as needed.)c) Would production increase more rapidly with 2,500 more employees or $250,000 additional capital?$250,000 additional capital2,500 more employees

egers or decimals for any numbers in the expression. Round to the nearest hundredth as neec notation.) (Simplify your answer. Use integers or decimals for any numbers in the expression. Round to the nearest hundredth as nee notation.) b) If the factory currently uses 13,500 employees and $1,400,000 of capital, find the marginal productivity of labor and the r The marginal productivity of labor is. (Round to the nearest whole number as needed.) The marginal productivity of capital is. (Round to two decimal places as needed.) c) Would production increase more rapidly with 2,500 more employees or $250,000 additional capital? $250,000 additional capital 2,500 more employees

egers or decimals for any numbers in the expression. Round to the nearest hundredth as neec notation.) (Simplify your answer. Use integers or decimals for any numbers in the expression. Round to the nearest hundredth as nee notation.) b) If the factory currently uses 13,500 employees and $1,400,000 of capital, find the marginal productivity of labor and the r The marginal productivity of labor is. (Round to the nearest whole number as needed.) The marginal productivity of capital is. (Round to two decimal places as needed.) c) Would production increase more rapidly with 2,500 more employees or $250,000 additional capital? $250,000 additional capital 2,500 more employees

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter11: Profit Maximization

Section: Chapter Questions

Problem 11.14P

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