The CobbDouglas model. Lincolnville Sporting Goods has the following production function
Chapter 6, Problem 41(choose chapter or problem)
The CobbDouglas model. Lincolnville Sporting Goods has the following production function for a certain product: where p is the number of units produced with x units of labor and y units of capital. a) Find the number of units produced with 32 units of labor and 1024 units of capital. b) Find the marginal productivities. c) Evaluate the marginal productivities at and d) Interpret the meanings of the marginal productivities found in part (c).
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