Production Function. Consider the Cobb-Douglas production function discussed in class: F(K, L) = AK1/3 L2/3. Suppose that parameters are initially A = 1, K = 150, and L = 10. b) State the equation relating outper per worker and capital per worker. Calculate output per worker and capital per worker in this case and verify that they satisfy this equation.

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Chapter7: Production Economics
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Production Function. Consider the Cobb-Douglas production function discussed in class:
F(K, L) = AK1/3 L2/3. Suppose that parameters are initially A = 1, K = 150, and L = 10.

b) State the equation relating outper per worker and capital per worker. Calculate output
per worker and capital per worker in this case and verify that they satisfy this equation.

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