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Results tagged with production-function
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user 47876
A function whose value is the produced quantity associated with a given vector of factor inputs. The production function represents the technology available to the firm.
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question about production optimization
the question is,
if Q = AK^a(HL)^b
and the parameters are:
(A =100) (K = 10000$) (H = 1) (L = 100 person) (a = 0.5) (b = 0.5)
P = 5 per unit, R = interest rate of 3 percent per year , W = 3 per …
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