Suppose you are given the following total product function


Suppose you are given the following Total Product Function: Q=100K^3/2 L^4/2 M^4/7,where Q is total output or units produces; K, capital; L, labor; and M, materials.; that is, this is a input factor production function.

1) Take the log of the above function and discuss the elasticities of each input.

Request for Solution File

Ask an Expert for Answer!!
Business Economics: Suppose you are given the following total product function
Reference No:- TGS01044060

Expected delivery within 24 Hours