The production function for puffed rice is given by q = 100 KL Where q is
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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.
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Related Book For
Intermediate Microeconomics and Its Application
ISBN: 978-0324599107
11th edition
Authors: walter nicholson, christopher snyder
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