ECON 3020

Spring 2013

Dr. Tufte

Homework 7

Due: at the start of class on Friday, April 5.

You may answer these questions in a spreadsheet, and then e-mail me the file.

Program each production function into a spreadsheet. Please structure your spreadsheet so the two exponents are in consecutive rows in the same column, followed by values of labor and capital in the same column (for example, you’ll have 0.3, 0.7, 10, 20 in a column). Then you can put the output for the production function just below that. This will be your “before” column, and then you can place the “after” column right next to this to take advantage of Excel’s copying ability.

For each question, next to your calculations, write something like “this function has _____ returns-to-scale because the inputs go up by ____% and the output goes up by ______%.

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7)