Solved

A Small Firm in Indonesia Has the Following Estimated Production

Question 98

Essay

A small firm in Indonesia has the following estimated production function:
ln(q)= 10 + 2.6ln(L)- 0.4(ln(L))2
Derive the firm's marginal and average product of labor as functions of q and L.What is the elasticity of output with respect to labor?

Correct Answer:

verifed

Verified

Total differentiate both sides of the fu...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions