The production function for puffed rice is given by q = 100 KL Where q is

Question:

The production function for puffed rice is given by

q = 100 √ KL

Where q is the number of boxes produced per hour, K is the number of puffing guns used each hour, and L is the number of workers hired each hour.

a. Calculate the q = 1,000 is oquant for this production function and show it on a graph.

b. If K = 10, how many workers are required to produce q = 1,000? What is the average productivity of puffed-rice workers?

c. Suppose technical progress shifts the production function to q = 200 √KL. Answer parts a and b for this new situation.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Intermediate Microeconomics and Its Application

ISBN: 978-0324599107

11th edition

Authors: walter nicholson, christopher snyder

Question Posted: