The production function for one country is z = x 0.65 y 0.35 , where x stands
Question:
The production function for one country is z = x0.65y0.35, where x stands for units of labor and y for units of capital. At present, 50 units of labor and 29 units of capital are available. Use differentials to estimate the change in production if the number of units of labor is increased to 52 and capital is decreased to 27 units.
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Substitute 1065035 x 50 y 29 dx ...View the full answer
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