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Economics

Consider a firm that has a production function given by Q = 200*L^(.5)

a) Is this production function convex or concave?

b) Does this production function make sense?

c) Find the elasticity of output with respect to labor use.

d) What is the minimum set of information you will need in addition to the production function in order to find out the profit maximizing level of output? Make up a list and explain.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91559832

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