Question
A short run equilibriam production function is given as Q= X
Answers
^2/3Y^1/3.
Given that X=100 and Y=50, what is the level of output?
The level of output is Q = 100^2/3 * 50^1/3 = 100.
Given that X=100 and Y=50, what is the level of output?
The level of output is Q = 100^2/3 * 50^1/3 = 100.
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