Question

A company has a Cobb-Douglas production function f(x,y)= 20x^0.33y0.67 where x is the utilization of labor and y is the utilization of capital. Determine the number of units of product produced when 1728 units of labor and 27,000 units of capital are used.

Answer 1

20 (1728)^.33 (27000)^.67

I can do this with my calculator

20 (11.7)(931) = 217,886

Answer 2

or use logs

.33 log 1728 = .33 * 3.24 = 1.0684
10^1.0684 = 11.7

etc

Answer 3

Thank you very much