Skateboards are produced according to the production function,q = 10K^0.25L^0.5 - L.Given that capital is fixed at 16 units in the short run,what quantity of labor is needed to produce 36 units of output?

Question

Quizplus · Accepted Answer

Given the production function q = 10K^0.25L^0.5 and K = 16, to find L when q = 36, substitute q and K into the equation: 36 = 10(16)^0.25L^0.5. Solving for L gives L = 4.

Skateboards Are Produced According to the Production Function,q = 10K0

Skateboards Are Produced According to the Production Function,q = 10K⁰