Question
Q1At the certain factory, the daily output is Q(K) = 600K^1/2 units, where K denotes the capital investment measured in units of $1000. The current
Q1At the certain factory, the daily output is Q(K) = 600K^1/2
units, where K denotes
the capital investment measured in units of $1000. The current capital
investment is $900,000. Estimate the effect that an additional capital investment
of $800 will have on the daily output
Q2 At a certain factory, the daily output is Q(L)=60,000L^(1/3) units, where L denotes the size of the labor force measured in worker-hours, Currently 1,000 worker-hours of labor are used each day. Estimate the effect on output that will produced if the labor force is cut to 940 worker-hours
Please answer these two
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