Q = 180√LK^0.8 L=5, K = 10 1) construct marginal product of labour and marginal product of capital 2) if L=5, K = 10 measure average product of labour and average product of capital 3) return to scale production function 4) if K = 5, L = 10 calculate marginal rate of products 5) how about the cross partial effect of this production function
Q = 180√LK^0.8 L=5, K = 10 1) construct marginal product of labour and marginal product of capital 2) if L=5, K = 10 measure average product of labour and average product of capital 3) return to scale production function 4) if K = 5, L = 10 calculate marginal rate of products 5) how about the cross partial effect of this production function
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter7: Production Economics
Section: Chapter Questions
Problem 5E
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Question
- Q = 180√LK^0.8
L=5, K = 10
1) construct marginal product of labour and marginal product of capital
2) if L=5, K = 10 measure average product of labour and average product of capital
3) return to scale production function
4) if K = 5, L = 10 calculate marginal rate of products
5) how about the cross partial effect of this production function
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