Suppose that a company's production for Q units of its product is given by the Cobb-Douglas production function shown below, where K is dollars of capital investment and L is labor hours. Q = 30K1/4L3/4 (a) Find Q if K = $625 and L = 625 hours.Q =  (b) Show that if both K and L are doubled, then the output is doubled.Q(2K, 2L) =    (c) If a capital investment is held at $10,000, graph Q as a function of L.

Question

Suppose that a company's production for Q units of its product is given by the Cobb-Douglas production function shown below, where K is dollars of capital investment and L is labor hours.

Q = 30K1/4L3/4
(a) Find Q if K = $625 and L = 625 hours.
Q =  

(b) Show that if both K and L are doubled, then the output is doubled.
Q(2K, 2L) = 
 
(c) If a capital investment is held at $10,000, graph Q as a function of L
 
 

Expert Answer

Want to see the step-by-step answer?

Check out a sample Q&A here.

Want to see this answer and more?

Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*

*Response times vary by subject and question complexity. Median response time is 34 minutes and may be longer for new subjects.
Tagged in
MathCalculus

Functions

Related Calculus Q&A

Find answers to questions asked by students like you.

Q: The funciton f in the figure satisfies the lim f(x)=5 as x approaches 4.  Determine the maximum valu...

A: (A) From the inequality |f(x)-5|<1 , we\'ll find range of f(x) first.

Q: 8xy′+4(ln x)y)(4) +5x3 y′=−6x4 y−9xy″   What is the order of the differential equation shown above?

A: The given differential equation is,  8xy′ +4(lnx)y4 +5x3y′ = -6x4y - 9xy″.The order of the highest d...

Q: 2. (4.6) penicillin is sold at a price of $200 per unit. The production cost (in dollars) for x unit...

A: C(x) and P(x) shows the total production cost function and the profit function of penicillin.

Q: if logx y = z, which variable(s) must always be positive

A: logxy = zWith respect to logarithm:The base of a logarithm should always be positive and not equal t...

Q: 1) The substitution u = tanx gives∫(sec2x.tanx)dx = ∫(x)du = 1/2.u2 + C = 1/2.tan2x + CThe substitut...

A: Yes, both integrations are correct by their respective substitutions.Reason:An integral of a functio...

Q: Which is the result?

A: The given function is,

Q: 12. An oil tanker struck a reef and caused an oil spill in the ocean. Assume that in its early stage...

A: Let r be the radius of the oil spill which is circular in shape.Given, 

Q: Evaluate the following integral as written. Please refer to attached image.

A: It's  aquestion of double integral. We will first evalaute the integral with respect to x, put the l...

Q: for the function f, given below, find the antiderivative F that satisfies F(1) = 1 The antiderivativ...

A: First, we find the general solution using integration.