Given the following Production function Q =
10L0.6K0.4 :
(Type all values with one decimal position, decimal sign
is ".", type texts exactly as indicated before every blank. Errors
with decimals, signs or texts will be graded 0).
Given The Following Production Function Q 10l0 6k0 4 Type All Values With One Decimal Position Decimal Sign Is 1 (109.71 KiB) Viewed 84 times
= = The expression of the isoquant Q = 10 is K = La , where a = Blank 21 • When Q=10 and L=1, the value of the MRTS = Blank 22 At isoquant level Q =10 and L=1, if you add 3 units of labor you can (increase or reduce) Blank 23 capital in Blank 24 units (type the value without sign). • In a Cobb-Douglas production function, MRTS is always (positive or negative) Blank 25, showing that you can (add or replace) Blank 26 units of labor with units of capital having the same constant value of the output. The given production function is a constant, decreasing, increasing) Blank 27 returns to scale function. It means that if we double the values of the inputs Land K, the output (doubles, more than doubles, less than doubles) Blank 28 the original output. This is due to the fact that a + B is (equal, less than or bigger than) Blank 29 1.
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