Question 7 You are the manager of a firm and you are required to optimize the Cobb-Douglas function given the following parameters. The maximum amount of money available to spend is $340 where the price of K = 8 and the price of L = 4. That is P = 8 and P = 4. The function is given as q = K®4L00 Not yet answered Marked out of 4 What are the optimal values K, and Lo? P Flag question O a. Ko 72, Lo s 18 O b. None of the above O. Ko z 68, Lo z 34 O d. Ko 34, Lo = 68 Question 8 What is the price elasticity of demand given P = 12 and Q = 1300 - P2. Not yet answered Select one: Marked out of 2 O a. -0.104 P Flag question O b. -0.21 Oc N -1.7 Con Od. 0.104
Question 7 You are the manager of a firm and you are required to optimize the Cobb-Douglas function given the following parameters. The maximum amount of money available to spend is $340 where the price of K = 8 and the price of L = 4. That is P = 8 and P = 4. The function is given as q = K®4L00 Not yet answered Marked out of 4 What are the optimal values K, and Lo? P Flag question O a. Ko 72, Lo s 18 O b. None of the above O. Ko z 68, Lo z 34 O d. Ko 34, Lo = 68 Question 8 What is the price elasticity of demand given P = 12 and Q = 1300 - P2. Not yet answered Select one: Marked out of 2 O a. -0.104 P Flag question O b. -0.21 Oc N -1.7 Con Od. 0.104
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter7: Production, Costs, And Industry Structure
Section: Chapter Questions
Problem 39P: A firm is considering an investment that will earn a 6 rate of return. If it were to borrow the...
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