The production function is Q = 16K0.75 L1.25. Given that the price of capital is EC$32...

Question

Question

The production function is Q = 16K0.75 L1.25. Given that the price of capital is EC$32 and the MRTS is K = 2L

a) What is the price of labour?

b) If the desired output is 8,500 units, how many units of capital and labour will be used?

Answer 1

Answer #1

005 Q 1.25 . B er=Pk = $32 k MRTS 을 16197 2077 피아게 5 025 Atophinality MRTS=why & K=2L 일쁜밟 스 10132) 32 (3-333) = 1060655 | 연85

Answer 2

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