Suppose the Production Function Is Q = 12 L⁰

question 109

Essay

Suppose the production function is q = 12 L^0.25K^0.75.Determine the long-run capital-to-labor ratio (K/L)if the cost a unit of capital (r)is three times the cost of a unit of labor (w).

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Definitions:

Arousal

A state of heightened physiological and psychological activity, involving the brain, various bodily systems, and behavior.

Asthma

A chronic inflammatory disease of the airways characterized by variable and recurring symptoms, reversible airflow obstruction, and bronchospasm.

Acetylcholine

A neurotransmitter involved in many functions including muscle movement and memory, acting as a chemical messenger in the nervous system.

CNS

The central nervous system, comprising the brain and spinal cord, which functions as the primary control center for processing and responding to neural information.