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Math Help - production function

  1. #1
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    Thumbs down production function

    Need answers! Urgent
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  2. #2
    MHF Contributor
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    You lost patience? Sorry. I did think about it. What have you been doing?

    If we fix the production, Q, or the ratio Q/A, we see that K can be expressed as a function of L.

    Rewrite the expression as \left(\frac{Q}{A}\right)^{\alpha} = b*K^{\alpha} + (1-b)*L^{\alpha}

    Find the implicit derivative with K = f(L)

    0 = \alpha b*K^{\alpha - 1}\left(\frac{dK}{dL}\right) + \alpha (1-b)*L^{\alpha - 1}

    Solve for \frac{dK}{dL}, which is the marginal change in K associated with a unit change in L.

    See, it wasn't so bad.
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