Can you please help solve question 7 c? I have added a similar question so it is easier to understand the logic behind it, please show full working so I can compare it to my own work Thank you Given that Q = Q(K,L) = (aK" + (1 – a)L")F represents a productionfunction, where Q is output, and K (capital) and L (labour) are inputs.7.-(a)Find the total differential of Q.(b)Now let the production function be implied by the following:F(Q, K, L) = Q – aK" + (1 – a)L" = 0.-dKUsing the implicit function rule finddL(c)The derivative in (b) is the slope of the isoquants from the implied productionfunction. These are always deemed to be negative.What values of a would ensure that the isoquants were negative?

We are going to find the value of expression dK/dL to answer this question.

Given that Q = Q(K,L) = (aK" + (1 – a)L")F represents a production function, where Q is output, and K (capital) and L (labour) are inputs. 7. %3D (a) Find the total differential of Q. (b) Now let the production function be implied by the following: F(Q,K,L) = Q – aK" + (1 – a)L" = 0. dK Using the implicit function rule find (c) The derivative in (b) is the slope of the isoquants from the implied production function. These are always deemed to be negative. What values of a would ensure that the isoquants were negative?

Given that Q = Q(K,L) = (aK" + (1 – a)L")F represents a production function, where Q is output, and K (capital) and L (labour) are inputs. 7. %3D (a) Find the total differential of Q. (b) Now let the production function be implied by the following: F(Q,K,L) = Q – aK" + (1 – a)L" = 0. dK Using the implicit function rule find (c) The derivative in (b) is the slope of the isoquants from the implied production function. These are always deemed to be negative. What values of a would ensure that the isoquants were negative?

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter9: Production Functions

Section: Chapter Questions

Problem 9.10P

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