Question
An entrepreneur has the following production function Q=K 5L 0.4and the factor prices are r=1 and w=1. The entrepreneur is interested in knowing: The type
An entrepreneur has the following production function Q=K 5L 0.4and the factor prices are r=1 and w=1. The entrepreneur is interested in knowing:
The type of economy of scale that the firm has.
The rate of substitutability of the factors (the Marginal Rate of Technical Substitution or TMST).
The expansion path of the firm.
The optimal amount of labor and capital
The equilibrium production.
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Statistics The Art And Science Of Learning From Data
Authors: Alan Agresti, Christine A. Franklin
3rd Edition
9780321849281, 321755944, 321849280, 978-0321755940
