Given the production function Q=30K0.7 L 0.5 the input price are w=30 a Determine the equation for the expansion d r=20 What is the different efficient input combination for an output rate of Q = 200 ? for Q=500?
Given the production function Q=30K0.7 L 0.5 the input price are w=30 a Determine the equation for the expansion d r=20 What is the different efficient input combination for an output rate of Q = 200 ? for Q=500?
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter7: Production Economics
Section: Chapter Questions
Problem 1.5CE
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Given the production function Q=30K0.7 L 0.5 the input price are w=30 a
- Determine the equation for the expansion
d r=20
- What is the different efficient input combination for an output rate of Q = 200 ? for Q=500?
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