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Answer to Question #148256 in Economics for Jyotiramay Rout

Question #148256
Let the production function by Q = AL^aK^b. Find the elasticity of production with respect to labour (L).
1
Expert's answer
2020-12-14T05:53:49-0500

The elasticity of production with respect to labour (L) is:

"EL = MPL\/APL = \\frac{A\u00d7a\u00d7L^{a - 1}K^b} {A\u00d7L^{a - 1}K^b} = a."


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Lakshmi
29.07.22, 09:31

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