Show that if both k and l are halved then q is also halved

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Reference no: EM131801463

Question: Production suppose that a company's production for Q units of its product is given by the Cobb-Douglas production function

Q = 70K^2/3L^1/3

where K is dollars of capital investment and L is labor hours.

(a) Find Q if K = $64,000 and L = 512 hours.

(b) Show that if both K and L are halved, then Q is also halved.

Reference no: EM131801463

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