# Estimated production function in the form of a power function

Rewrite the estimated production function in the form of a power function

Find the marginal product of capital, labor, and gasoline at K=200, L = 400, G = 4,000

See attached file for full problem description.

This question has the following supporting file(s):

• bm cobb douglas.xls
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Solution Summary

This job offers a form of a power function.

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• bm+cobb+douglas(1).xls

Jiong Tu, PhD (IP)

Rating 4.8/5

Active since 2003

BA, Shanghai International Studies University
PhD (IP), McMaster University

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"On problem 2 Quigley Inc the five choses are A 3.83% B 4.02% C4.22% D 4.43% E 4.65% I tried to figure it out but couldn't get it Please help me out"

Extracted Content from Question Files:

• bm cobb douglas.xls

Rapid Transit Corporation has estimated the following Cobb Douglas production function
using monthly observations for the past 2 years.

Cobb-Douglas monthly production function for past 2 years Q = 2.303 + 0.40 InK
− − − − − − (3.40 ) − −
Q = number of bus miles driven
+ 0.20 inG
K = number of buses the firm operates
L = the number of bus drivers it employed each day (3.05 )
G = gallons of gas used
R 2( squared ) = 0.94

a) estimate Q if k =200 L = 400 G = 4000
k=buses L = drivers G gas
240
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100
0

b) rewrite the estimated production function in the form of a power function

c) Find the marginal product of capital, labor, and gasoline at K=200, L = 400, G = 4,000
InK + 0.60 InL
− − −( 4.15 )

94 D − W = 2.20