Question: Suppose a Cobb-Douglas production function is given as Q = L 0.5 K 0.5 ( a) Find the degree of production function, ( b) Find

Suppose a Cobb-Douglas production function is given as Q = L 0.5 K 0.5

(

a) Find the degree of production ‘function’,

(

b) Find the law of production it reveals, and

(

c) Find the output for 10 units of labour and 5 units of capital.

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