# The formulas in a and K using the data for each of the two year and the Cobb-Douglas formula If two year ago, my piano manufacture plant employed 1000 employees, had an operating budget of $1 million, turned out 100 pianos. Last year, I slashed the operating budget 1000 employees to$ 100 , 000 and production dropped to 10 pianos.

### Applied Calculus

7th Edition
Waner + 1 other
Publisher: Cengage Learning,
ISBN: 9781337291248

### Applied Calculus

7th Edition
Waner + 1 other
Publisher: Cengage Learning,
ISBN: 9781337291248

#### Solutions

Chapter 8.1, Problem 98E

(a)

To determine

## To calculate: The formulas in a and K using the data for each of the two year and the Cobb-Douglas formula If two year ago, my piano manufacture plant employed 1000 employees, had an operating budget of $1 million, turned out 100 pianos. Last year, I slashed the operating budget 1000 employees to$100,000 and production dropped to 10 pianos.

(b)

To determine

(c)

To determine

(d)

To determine

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