(2) Consider a Cobb-Douglas production function, F(K,L) = AL^ß K^1-ß. a. Does the production functio

Need your ASSIGNMENT done? Use our paper writing service to score better and meet your deadlines.


Order a Similar Paper Order a Different Paper

(2) Consider a Cobb-Douglas production function, F(K,L) = AL^ß K^1-ß.
a. Does the production function exhibit increasing, decreasing or constant returns to scale?
b. Manipulate the production function so that it is expressed in intensive form. Hint: You should end up with a function of the capital-labor ratio, (K/L).
c. Interpret the value A.
d. Find the marginal production functions for labor and capital. Interpret.
e. Find the technical rate of substitution. Interpret.
f. Find the isoquant for output of 50. Interpret.

Do you need help with this or a different assignment? We offer CONFIDENTIAL, ORIGINAL (Turnitin/LopesWrite/SafeAssign checks), and PRIVATE services using latest (within 5 years) peer-reviewed articles. Kindly click on ORDER NOW to receive an A++ paper from our masters- and PhD writers.

Get a 15% discount on your order using the following coupon code SAVE15


Order a Similar Paper Order a Different Paper