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The Cobb - Douglas production function is a classic model from economics used to model output as a function of capital and labor. It has
The CobbDouglas production function is a classic model from economics used to model output as a function of capital and labor. It has the form
where and are constants. The variable represents the units of input of labor and the variable represents the units of input of capital.
between capital and labor in order to maximize output.
Max
st
described in Appendix Round your answers to the nearest integer when necessary.
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