Consider the production function $P(L,K)=2L+3K$. Determine the elasticity with respect to capital at $(L,K)=(5,10)$.
Antwoord 1 correct
Correct
Antwoord 2 optie
$3$
Antwoord 2 correct
Fout
Antwoord 3 optie
$\dfrac{1}{4}$
Antwoord 3 correct
Fout
Antwoord 4 optie
$40$
Antwoord 4 correct
Fout
Antwoord 1 optie
$\dfrac{3}{4}$
Antwoord 1 feedback
Correct: $\epsilon_K=P'_K(L,K)\cdot \dfrac{K}{P(L,K)}=3\cdot \dfrac{K}{2L+3K}$. Therefore, at $(L,K)=(5,10)$ it holds that $\epsilon_K=\dfrac{3\cdot 10}{2\cdot 5+3\cdot 10}=\dfrac{3}{4}$.
Go on.
Go on.
Antwoord 2 feedback
Antwoord 3 feedback
Wrong: That is the partial elasticity with respect to labor, not to capital.
Try again.
Try again.
Antwoord 4 feedback