This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The Cobb-Douglas production function is: Q = 1.4L0.6K0.5 . What would be the percentage change in ... (Read 78 times)

CQXA

  • Hero Member
  • *****
  • Posts: 546
on: Jul 1, 2018
The Cobb-Douglas production function is: Q = 1.4L0.6K0.5 . What would be the percentage change in output (?Q) if labor grows by 3.0 and capital is cut by 5.0? HINT: ?Q = (EL  ?L) + (EK  ?K)
 a. ?Q = + 3.0
  b. ?Q = + 5.0
  c. ?Q = - 0.70
  d. ?Q = - 2.50
  e. ?Q = - 5.0

Question 2

What are the different methods to measure industry concentration?
 a. Four-firm concentration ratio.
  b. HHI index.
  c. Total output
  d. a and b only


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jaymee143

  • Sr. Member
  • ****
  • Posts: 341
Reply #1 on: Jul 1, 2018
Answer to Question 1

c

Answer to Question 2

d


CQXA

  • Member
  • Posts: 546
Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

Dinolord

  • Member
  • Posts: 313
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Despite claims by manufacturers, the supplement known as Ginkgo biloba was shown in a study of more than 3,000 participants to be ineffective in reducing development of dementia and Alzheimer’s disease in older people.

Did you know?

Persons who overdose with cardiac glycosides have a better chance of overall survival if they can survive the first 24 hours after the overdose.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Did you know?

Oxytocin is recommended only for pregnancies that have a medical reason for inducing labor (such as eclampsia) and is not recommended for elective procedures or for making the birthing process more convenient.

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

The structure of stomatal guard cells affects their function. The structure of stomatal guard cells affects their function.
Bones change radically in size and shape from newborn to adult, as these cervical vertebrae demonstr Bones change radically in size and shape from newborn to adult, as these cervical vertebrae demonstr
Climate Change: Greenhouse gases Timescale Climate Change: Greenhouse gases Timescale
Periodic Function p2 Periodic Function p2
For each function f(x) = 6x^2 - 4, estimate the instantaneous rate of change for the given ... For each function f(x) = 6x^2 - 4, estimate the instantaneous rate of change for the given ...
Production of ABO blood group antigens Production of ABO blood group antigens
Video: Glycolysis Animation

For a complete list of videos, visit our video library