Draw up an input-output table for this function up

Reference no: EM133707450

Question: CD Inc. has estimated that it has the following production function: Q = 80(L)^0.4(K)^0.6

a. Draw up an input-output table for this function up to the input of eight units of capital and labour.

b. Comment on returns to scale from the function; how can you check this from your table in (a)?

c. If capital is fixed at four units, draw a graph of total, marginal and average product. d. Explain why marginal and average product are continuously declining

Reference no: EM133707450

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