ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Company Z has the following data corresponding to the production function. Where (L) is the
amount of the labor factor and (K) capital. Q=K0.4 L 0.6 a) Calculate the amount of production,
applying the production function for each of the respective values of K and L.
K
L
Q
10
80
30
160
50
320
70
640
90
1200
a) Graph the amount of production obtained on the Y axis, and with the labor input on the
Х аxis
b) Draw isoquant lines for each level of production, placing capital on the Y axis and labor
on the X axis, to better appreciate the displacement.
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Transcribed Image Text:Company Z has the following data corresponding to the production function. Where (L) is the amount of the labor factor and (K) capital. Q=K0.4 L 0.6 a) Calculate the amount of production, applying the production function for each of the respective values of K and L. K L Q 10 80 30 160 50 320 70 640 90 1200 a) Graph the amount of production obtained on the Y axis, and with the labor input on the Х аxis b) Draw isoquant lines for each level of production, placing capital on the Y axis and labor on the X axis, to better appreciate the displacement.
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