2) A product can lbe made using two alternative techpologies, F and G : y=FCL) = 16 L%, and y=GCL) = 2 L° , where L is the amount of labour necessary to produce y umts of output. (a) for what level of technology GIL) become (b) Draw a graph showing the two production functions, F(L) and GU); identifz the equal-output point on the graph. output does more efficient than the other?

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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please answer the following question with work shown thanks! 

2) A product
can be made using tawo alernative techpologies, F and G :
y=F CL) = 16 L%, and y-G(L) = 2L',
where L is the amount of labour necessary to produce
y umits of output. (a) for what level of output does
technology GL) become
(6) Draw a graph showing the two production functions, F(L)
and GU); identify the equal-output point
%3D
more efficient than the other?
on the graph.
Transcribed Image Text:2) A product can be made using tawo alernative techpologies, F and G : y=F CL) = 16 L%, and y-G(L) = 2L', where L is the amount of labour necessary to produce y umits of output. (a) for what level of output does technology GL) become (6) Draw a graph showing the two production functions, F(L) and GU); identify the equal-output point %3D more efficient than the other? on the graph.
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