Question: Consider the Cobb-Douglas production function (x, y) = 200x 0.7 y 0.3 . When x = 1000 and y = 500, find (a) The marginal

Consider the Cobb-Douglas production function ƒ(x, y) = 200x0.7y0.3. When x = 1000
and y = 500, find 

(a) The marginal productivity of labor,
∂ƒ/∂x,

(b) The marginal productivity of capital, ∂ƒ/∂y.

Step by Step Solution

★★★★★

3.28 Rating (166 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

a b... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Calculus 10th Edition Questions!

Q:

Think about the firm or industry in which you work (or would like to work). Choose a possible production function for this firm or a firm in that industry. Be sure to tell us what formula you have...

Q:

Consider the Cobb-Douglas Production function: P(L, K) = 25L0.6 K0.4 Find the marginal productivity of labor (that is, PL) and marginal productivity of capital (that is, PK) when 16 units of labor...

Q:

Consider the Solow growth model with population growth Other things remaining the same, assume there is unemployment in the economy, where the unemployment rate is given by u. This means only (1-u) L...

Q:

Consider the Cobb-Douglas production function f(x, y) = 200x0.65 0.35 When x = 2500 and y = 500, find the following. (Round your answers to two decimal places.) (a) the marginal productivity of...

Q:

Production. 1. Consider the Cobb-Douglas production function f(x,y) = 12x0.4y0.8. (A) Find the intensities (? and 1 ? ?) of the two factors of production. Does this firm have decreasing, increasing,...

Q:

Part A. Production Problem 1. Consider the Cobb-Douglas production function f(x,y) = 12x0.4y0.8. (A) Find the intensities (? and 1 ? ?) of the two factors of production. Does this firm have...

Q:

Question one. 6. The Federal Reserve System a. has no real powers b. is completely centralized. c. has 12 districts. d. also has control over fiscal policy. ____7.The Federal Open Market Committee...

Q:

Kindly solve the following questions. Production Problem 1. Consider the Cobb-Douglas production function f(x,y) = 12x0.4y0.8. (A) Find the intensities (? and 1 ? ?) of the two factors of production....

Q:

:solve the following questions. Problem 1. Consider the Cobb-Douglas production function f(x,y) = 12x0.4y0.8. (A) Find the intensities (? and 1 ? ?) of the two factors of production. Does this firm...

Q:

The CobbDouglas production function for a product is N(x, y) = 10x 0.8 y 0.2 where x is the number of units of labor and y is the number of units of capital required to produce N units of the...

Q:

John pulled together the revenue costs information for his business. Total variable coats are $8,700 total cogs.$6,100 total revenue of 20,000.Total fixed cost of $3,200 and a total sg&a at $5,800....

Q:

What are the penalties for not making timely payroll deposits?

Q:

12.91 In a survey of 240 students in an elementary statistics class at the University of California-Davis (UCD), 20 said that they were left-handed and 220 said that they were right-handed. Assume...

Q:

Determine the random allocation of experimental units to the treatments in a completely randomized design with (a) ???? = 3 treatments, ???? = 20 experimental units, and treatment replications ????1...

Q:

(a) Graph the circle x 2 + y 2 = 100 and the the para y = 3x 2 (b) Solve the system of equations: (c) Where do the circle and the parabola intersect? + y? = 100 %3 x?

Q:

Solve the equation 2e x = 5.

Q:

Find an equation of the line with slope 5 and x-intercept 2.

Q:

You are trying to decide how much to save for retirement. Assume you plan to save $8,000 per year with the first investment made one year from now. You think you can earn 10.0% per year on your...

Q:

Old MathJax webview an example of a permanent account is:

Q:

On June 1, 2013 Oakcrest Company signed a three year $110, note payable with 9% interest. Interest is due on June 1 of each year beginning in 2014. What amount of interest expense should be reported...