Discuss what happens to the level of output, Macroeconomics

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Discuss what happens to the level of output

A firm has a production function of the form Q = K (1/2)*L (1/2) where the (1/2s) are the exponents. Determine the output if the firm uses 9 units of labor and 4 units of capital? If the firm doubles its input levels, discuss what happens to the level of output? Does this firm's production function exhibit constant, increasing, or decreasing returns to scale?

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Macroeconomics: Discuss what happens to the level of output

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Macroeconomics: Discuss what happens to the level of output

Reference No:- TGS0870207

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Recent Questions Asked Macroeconomics

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Request for Solution File

Ask an Expert for Answer!!

Macroeconomics: Discuss what happens to the level of output

Reference No:- TGS0870207

Recent Questions Asked Macroeconomics

Q : Measure of central tendency

Q : Determine the relevant costs for the expansion

Q : Predicting inflation in high-income countries

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Q : Discuss what happens to the level of output

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