Suppose you are given the following total product function, Ask an Expert

Economics

Suppose you are given the following Total Product Function: Q=100 K^3/2 L^4/2 M^4/7 ,where Q is total output or units produces; K, capital; L, labor and M, materials.; that is, this is a input factor production function.

1) Take the log of the above function and discuss the elasticities of each input.

*Please show work*

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91404639

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