Production Function
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Always Round Tire has a production function of Q = 300 L.75 K.5. In the short run, if L = 250 and K = 25, what happens to the output of tires if L jumps to 300 and then 350. What law does this illustrate?
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Production function are examined for laws.
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I assume that Q = 300 L^0.75 K^0.5 (you missed the exponent sign in your question).
In the short run, if L = 250 and K = 25, we ...
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