Question
Consider the Cobb-Douglas production function f(x, y) = 400x^0.75y^0.25. When x = 1400 and y = 700, find the following. (Round your answers to two
Consider the Cobb-Douglas production function f(x, y) = 400x^0.75y^0.25.
When x = 1400 and y = 700, find the following. (Round your answers to two decimal places.)
(a) the marginal productivity of labor, f/x
(b) the marginal productivity of capital, f/y
Step by Step Solution
3.45 Rating (161 Votes )
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Algebra and Trigonometry
Authors: Ron Larson
10th edition
9781337514255, 1337271179, 133751425X, 978-1337271172
