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corie corie
wrote...
Posts: 767
6 years ago
Suppose there are ten identical manufacturing firms that produce computer chips with machinery (capital, K) and labor (L), and each firm has a production function of the form q = 10KL0.5.  What is the industry-level production function?
A) Q = 10K10L5
B) Q = 100KL0.5
C) Q = 100L0.5
D) none of the above
Textbook 
Microeconomics

Microeconomics


Edition: 8th
Author:
Read 122 times
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6 years ago
B
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