panpan
Hello!
Could you please tell me what kind of a production function Q = 5LK is ? I think it is Cobb-Douglas. If so, how do I go about plotting isoquants and isocosts to derive a conditional demand curve for L ?
Some pointers will be helpful.
Thank you
Could you please tell me what kind of a production function Q = 5LK is ? I think it is Cobb-Douglas. If so, how do I go about plotting isoquants and isocosts to derive a conditional demand curve for L ?
Some pointers will be helpful.
Thank you