The output, Q, of a car factory, may be modeled by a Cobb-Douglas production function, Q = AKm Ln, which is known to display constant returns to scale. The output is 800 when K = 1 and L = 1, and the output is 3658 when K = 10 and L = 3. Find the values of A, m, and n. Round your answers to two decimal places if necessary. A = m= and n=

The output, Q, of a car factory, may be modeled by a Cobb-Douglas production function, Q = AKm Ln, which is known to display constant returns to scale. The output is 800 when K = 1 and L = 1, and the output is 3658 when K = 10 and L = 3. Find the values of A, m, and n. Round your answers to two decimal places if necessary. A = m= and n=

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 1.5CE

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