Match each Cobb-Douglas production function (a)-(c) with a graph in the figure below and (a) F(L, K) = L0.25 K0.25 (b) F(L, K) = L0.5 K0.5 (c) F(L, K) = L0.825 K0.625 (D) tripling each input triples output: ? (E) quadrupling each input doubles output: ? (G) doubling each input almost triples output: ? (1): graph (1): ? (2): graph (2): ? # (3): graph (3): ? K statement (D)-(G). 2 L FET 1 2 L F= 23. F=1 2 L F=1
Match each Cobb-Douglas production function (a)-(c) with a graph in the figure below and (a) F(L, K) = L0.25 K0.25 (b) F(L, K) = L0.5 K0.5 (c) F(L, K) = L0.825 K0.625 (D) tripling each input triples output: ? (E) quadrupling each input doubles output: ? (G) doubling each input almost triples output: ? (1): graph (1): ? (2): graph (2): ? # (3): graph (3): ? K statement (D)-(G). 2 L FET 1 2 L F= 23. F=1 2 L F=1
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:Match each Cobb-Douglas production function (a)-(c) with a graph in the figure below and a statement (D)-(G).
(a) F(L, K) = L0.25 K0.25
(b) F(L, K) = L0.5 K0.5
(c) F(L, K) = L0.825 0.625
(D) tripling each input triples output: ? -
(E) quadrupling each input doubles output: ?
(G) doubling each input almost triples output: ?
(1): graph (1): ?
(2): graph (2):
?
(3): graph (3):
?
1.
3
K
2
1
2
L
2.
K
2
1
2
L
F=3
23.
F=1
3
K
2
1
2 L
F=1
3
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