題組內容

3. Given a production function $$Q = \sqrt{(L + K)}$$, answer the following questions:

(d) (3%) Compare your answer in (c) to a demand function for $ L $ derived from a Cobb-Douglas production function (e.g., $ Q = L^{0.5}K^{0.5} $), which demand for $ L $ is relatively insensitive to $ w $?