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A ?rm has the Cobb-Douglas production function y = 10x1=3
1 x1=2
2 x1=6
3 . Currently, it is using the input bundle
(27; 16; 64)
1. How much is it producing ?
2. Use di¤erentials to approximate its new output when x1 increases to 27:1, x2 decreases to 15:7 and x3 remains the same.
3. Use your calculator to compare your answer in part 2: with the actual output. 

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91295754

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