Abdulazizgx Abdulazizgx

11-10-2022
Business

Answered

Consider the short run production function
Q = 95K1/2L3/4
Where K is capital (in million SR) and L is the number of labor.

a) Show that this production function is homogeneous. What is the degree of homogeneity? Comment on the return to the scale.

b) Consider the following table.

Develop a formula in excel to calculate the values of Q. Show the complete formula in the snapshot of excel sheet.

(table and function in attachment)

Consider the short run production function Q 95K12L34 Where K is capital in million SR and L is the number of labor a Show that this production function is homo class=

Answer :

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