If the Cobb-Douglas production function is q = L0. 75 K0 .25 , and K = 16,
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If the Cobb-Douglas production function is q = L0.75K0.25, and K̅ = 16, what is the elasticity of output with respect to labor?
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q L 025 K 076 K 16q L 025 16 075 Elasticity of output w...View the full answer
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Related Book For
Microeconomics Theory and Applications with Calculus
ISBN: 978-0133019933
3rd edition
Authors: Jeffrey M. Perloff
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