Answer to Question #143886 in Finance for Mr. Dinesh Pal Singh

Question #143886
61. Given the production function
Q = 30 K0.7 L0.5
and input prices r = 20 and w = 30, determine the expansion path.
1
Expert's answer
2020-11-17T07:28:16-0500

obtain the partial derivative of Q wrt to K and L to find Marginal product of labour and marginal product of Capital (K)




Therefore the Expansion Path (C)


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