Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
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ISBN: 9781305506381
Author: James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher: Cengage Learning
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Transcribed Image Text:Consider the following Cobb-Douglas production function:
Y = AKªL®
(1)
where Y is aggregate output, K is capital, L is labour, and A, a, and ß are positive constants.
a) Is function (1) in linear form? Convert it into linear form if it is not.
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