Suppose you are given the following total product function


Suppose you are given the following Total Product Function: Q=100 K^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.

Suppose K = 1,000; L = 200 workers; and M = value of all materials use at 450.

 

1) Derive the total product or output.

Request for Solution File

Ask an Expert for Answer!!
Business Economics: Suppose you are given the following total product function
Reference No:- TGS01116525

Expected delivery within 24 Hours