Consider the production function, Q = 15L3/4K1/4, where Q is output, L is labor input, and K

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Consider the production function, Q = 15L3/4K1/4, where Q is output, L is labor input, and K represents capital input.

1) Using natural logarithms, transform this exponential function into a linear function.

2) Now assume that L = 10 and K = 5. What is the value of ln(Q)?

Remembering that exp (ln(Q)) = Q, determine the value of Q.

Related Book For answer-question

Managerial economics

ISBN: 978-1118041581

7th edition

Authors: william f. samuelson stephen g. marks

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Posted Date: Jul 16, 2018 12:51 AM

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Consider the production function, Q = 15L3/4K1/4, where Q is output, L is labor input, and K

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21 Q 15L34K14 ln Q ln15L34K1... View the full answer

Managerial economics

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