The Cobb-Douglas Production Function Is: Q = 1

question 14

Multiple Choice

The Cobb-Douglas production function is: Q = 1.4*L^0.6*K^0.5.What would be the percentage change in output (%?Q) if labor grows by 3.0% and capital is cut by 5.0%?

• A) %?Q = + 3.0%
• B) %?Q = + 5.0%
• C) %?Q = - 0.70%
• D) %?Q = - 2.50%
• E) %?Q = - 5.0%

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The amount of money that an individual or business receives in exchange for providing a good or service or through investing capital.

Mathematics Exam

A formal test assessing knowledge and skills in the field of mathematics.

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