Suppose that the production function is given by Y=AK0.4N0.6. What is the percentage change in output if both capital and labor rise by 42%? Write the answer in percent terms with up to two decimals (e.g., 10.22 for 10.22%, or 2.33 for 2.33%).

If the production function describing an economy is Y= 20 KL23, then the share of income going to capital: O is about 33 percent. O depends on the state of technology. is about 67 percent. depends on the quantities of labor and capital.

Suppose that the output Q (in units) of a certain company is Q = 75K¹/3-2/3, where K is the capital expenditures in thousands of dollars and L is the number of labor hours. Find aQ/ƏK when capital expenditures are $1,331,000 and the labor hours total 2197. (Round your answer to the nearest whole number.) aq/ək = units per thousand dollars Interpret aQ/ƏK. If labor hours remain at 2197 and K increases by $1000, Q will increase about units. Find aQ/aL when capital expenditures are $1,331,000 and the labor hours total 2197. (Round your answer to the nearest whole number.) ƏQ/ƏL = units per labor hour Interpret aQ/ƏL. If capital expenditures remain at $1,331,000 and L increases by one hour, Q will increase about units.

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Question 6 ▼ Suppose a Cobb-Douglas Production function is given by the following: P(L, K) = 10L0.9 K0.1 where L is units of labor, K is units of capital, and P(L, K) is total units that can be produced with this labor/capital combination. Suppose each unit of labor costs $100 and each unit of capital costs $700. Further suppose a total of $140,000 is available to be invested in labor and capital (combined). Units of labor, L = A) How many units of labor and capital should be "purchased" to maximize production subject to your budgetary constraint? Submit Question Units of capital, K = B) What is the maximum number of units of production under the given budgetary conditions? (Round your answer to the nearest whole unit.) Max production = Question Help: Video units

Consider the augmented production function Y equals A K to the power of 1 divided by 3 end exponent open parentheses H N close parentheses to the power of 2 divided by 3 end exponent, where Y is output, A is total factor productivity, K is capital, N is the number of workers, and H is average years of education. Suppose that A=2, K=8, and N=1000. What is the average product of labor (or output per worker) if H is 15.7?

The following equations represent the long-run production functions for four different technologies, where capital and labor are both variable inputs. For each function, indicate whether it exhibits increasing, decreasing, or constant returns to scale. Clearly show your derivations. (Note that in parts a and c, the exponents are decimals.) f(L,K)= 8L²K4 b. f(L,K)= L+7K c. f(L,K)= L³K d. f(L,K)= 4L+K? а. с.

A country's Cobb-Douglas production function is as follows: Y= 5K^(1/2)L^(1/2). If this country has 20,000 unit of capital and 500 workers, find the real wage approximately. Select one: a. 0.85 b. 0.99 C. 0.55 d. 0.66 e. 1.21

Suppose that the economy's production function is given by Y=K²N¹-a where Y is output, K is capital, and N is labor. Assume that a = 1/3. The production function transformed into output per worker is (Property format your expression using the tools in the palette. Hover over tools to see keyboard shortcuts. E.g., a superscript can be created with N character.)