Suppose that the production function of a company is given by q = qL^2 · qC and that the amount of labour qL and the amount of capital qC are functions of time t. At time t = 2, we know that qL = 9 andqC =8 and that the growth rateof qL is equal to 2 and the growth rate of qC is equal to 8. Find the growth rate of the production q at that moment.

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
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ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
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Chapter7: Production Economics
Section: Chapter Questions
Problem 7E
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Suppose that the production function of a company is given by q = qL^2 · qC and that the amount of labour qL and the amount of capital qC are functions of time t. At time t = 2, we know that qL = 9 andqC =8 and that the growth rateof qL is equal to 2 and the growth rate of qC is equal to 8.

Find the growth rate of the production q at that moment.

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