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OCW Scholar - Principles of Microeconomics 16 Online
OpenStudy (anonymous):

In fixed proportion production function the output is proportionate to the input i.e labour and capital so is this right O= Output L=Labour C= Capital O is directly proportional to L O is directly proprtional to C therefore, O is direcltly proportional to LxC and O= KLC where K is constant of proportionality how do we find value of K

OpenStudy (anonymous):

as far as i remember in fixed proportion the production function is min(ax1,bx2) ! rest I dont rem , will let you know tom

OpenStudy (anonymous):

y = k*min{aL,bC} Taking out k here is trivial, if you know the other values.

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