The production function of a small firm that produces tarpaulin is given by the table below. L 4 6 8 10 12 14 16 18 20 22 24 Q 18 33 57 12 84 93 99 102 102 99 What would be the output elasticities of labor? Round-up your answers to two decimals. If the firm is hiring 8 and 22 workers, interpret the computed & values
The production function of a small firm that produces tarpaulin is given by the table below. L 4 6 8 10 12 14 16 18 20 22 24 Q 18 33 57 12 84 93 99 102 102 99 What would be the output elasticities of labor? Round-up your answers to two decimals. If the firm is hiring 8 and 22 workers, interpret the computed & values
Principles of Microeconomics (MindTap Course List)
8th Edition
ISBN:9781305971493
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter18: The Markets For The Factor Of Production
Section: Chapter Questions
Problem 3PA
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