Always Round Tire Has a Production Function of Q =

question 37

Essay

Always Round Tire has a production function of Q = 300 L^.75 K^.5.If Always Round Tire doubles the size of its production facility-increasing L from 250 to 500 and K from 25 to 50 -what happens to the cost of production,even though we do not know the wages of labor or the price of capital?

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