Choices are on the second pic The Cobb-Douglas production function f(x, y)35x0.30 ,0.70gives the number of face masks manufactured when æ units of laborand y units of capital is utilized.Assuming the company is currently utilizing 100 units of labor and200 units of capital, which of the following statements can be deduced? For every unit increased in labor, the change in productivity will increase by approximatelyf,(100, 200) z 19.90 units of face masks.For every unit increased in labor, the change in productivity will decrease by approximatelyf,(100, 200) z 19.90 units of face masks.For every unit increased in capital, the change in productivity will increase by approximatelyf,(100, 200) z 19.90 units of face masks.For every unit increased in capital, the change in productivity will decrease by approximatelyf,(100, 200) z 19.90 units of face masks.

Cobb Douglas production function is a long-run model which means an increase in labor or capital…

The Cobb-Douglas production function f(x, y) = 3520.30 y0.70 gives the number of face masks manufactured when z units of labor and y units of capital is utilized. Assuming the company is currently utilizing 100 units of labor and 200 units of capital, which of the following statements can be deduced?

The Cobb-Douglas production function f(x, y) = 3520.30 y0.70 gives the number of face masks manufactured when z units of labor and y units of capital is utilized. Assuming the company is currently utilizing 100 units of labor and 200 units of capital, which of the following statements can be deduced?

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter9: Production Functions

Section: Chapter Questions

Problem 9.7P

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