The International Calculator Company of China produces handheld calculators in its plant. It tries to keep the
Question:
Materials Quantity
70 ..................................... 450
60 ..................................... 430
80 ..................................... 460
95 ..................................... 490
77 ..................................... 465
100 .................................... 550
85 ...................................... 490
a. Calculate a Cobb-Douglas production function of the form Q = aMb.
b. Discuss the important properties of your results.
c. What is the marginal product of materials?
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Related Book For
Managerial Economics
ISBN: 978-0133020267
7th edition
Authors: Paul Keat, Philip K Young, Steve Erfle
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