Question: I Learning objective: Stimulate Critical-Constructive thinking in the application of the concepts learned on the subject. A. Building a Matrix (25 points) One of the

I Learning objective: Stimulate Critical-Constructive thinking in the application of the concepts learned on the subject. A. Building a Matrix (25 points) One of the tools used in the field of Economy and Business is

I Learning objective: Stimulate Critical-Constructive thinking in the application of the concepts learned on the subject.

A. Building a Matrix (25 points)

One of the tools used in the field of Economy and Business is known as the Cobb-Douglas function. It is itself a matrix, which relates the units of Labor (L) and Capital (equipment) (K) for a company to produce Q units with various combinations of these.

Suppose we are going to estimate the production of an item for a business. For our exercise we will call it matrix Q and it will be 4x4. Each input Qij will be calculated using the formula.

the units of Labor (L) and Capital (equipment) (K) for a company

-10K-L.2 3 4 10.0 27.3 Q 30.3

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