O Meet - fki-aqbf-siv->8 https://meet.google.com/fki-aqbf-siv...Ronique Browne is presentingThe Learning Exchange 2021English (en)-Ronique BrowneQuestion 7You are the manager of a firm and you are required to optimize the Cobb-Douglas function given theNot yetfollowing parameters. The maximum amount of money available to spend is $340 where the price of K = 8and the price of L = 4. That is P = 8 and P = 4. The function is given as q = K.4 L0.6answeredMarked out of 4Ronique BrowneWhat are the optimal values K, and Lo?P Flag questionO a. K, 72, Lo = 18O b. None of the aboveO. Ko z 68, Lo z 34O d. Ko 34, Lo 68Donalie DaileyQuestion 8What is the price elasticity of demand given P = 12 and Q = 1300 – p².Not yetansweredSelect one:Marked out of 2O a. -0.104P Flag questionO b. -0.21OC -1.7w Combined Assessment - Micro.O d. 0.104You8:41 PM| fki-aqbf-sivCC8:41 PMP Type here to searchWE26°C A O OG ENG12/10/2021立

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Question 7 You are the manager of a firm and you are required to optimize the Cobb-Douglas function given the following parameters. The maximum amount of money available to spend is $340 where the price of K = 8 and the price of L = 4. That is P = 8 and P = 4. The function is given as q = K®4L00 Not yet answered Marked out of 4 What are the optimal values K, and Lo? P Flag question O a. Ko 72, Lo s 18 O b. None of the above O. Ko z 68, Lo z 34 O d. Ko 34, Lo = 68 Question 8 What is the price elasticity of demand given P = 12 and Q = 1300 - P2. Not yet answered Select one: Marked out of 2 O a. -0.104 P Flag question O b. -0.21 Oc N -1.7 Con Od. 0.104

Question 7 You are the manager of a firm and you are required to optimize the Cobb-Douglas function given the following parameters. The maximum amount of money available to spend is $340 where the price of K = 8 and the price of L = 4. That is P = 8 and P = 4. The function is given as q = K®4L00 Not yet answered Marked out of 4 What are the optimal values K, and Lo? P Flag question O a. Ko 72, Lo s 18 O b. None of the above O. Ko z 68, Lo z 34 O d. Ko 34, Lo = 68 Question 8 What is the price elasticity of demand given P = 12 and Q = 1300 - P2. Not yet answered Select one: Marked out of 2 O a. -0.104 P Flag question O b. -0.21 Oc N -1.7 Con Od. 0.104

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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