ARE 100A
Quiz on Problem Set V
February 19 2010
Richard Howitt
Name……………………………..
Section……………………………..
Given the following production function:
Where K is capital, L is labor
0.4
0.5
10(
)
Q
K
L
=
(a)
Given two points on an isoquant (Q=97) of K =10, L= 15
and
K=8, L= 17.85
Calculate the interval (average) elasticity of substitution
between these two points.
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