Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Production functions
Suppose there are two factors of production: capital (K) and labor (N). Let A be a technological parameter (take it as given)
Answer the following:
1. Does any of the following production functions exhibit constant returns to scale? Justify your answer with a one-line proof
(a) Y = AK0.4 N0.6
(b) Y = AKa Nß, with a+ ß>1
(c) Y = min (K; N)
2. Suppose that the production function is given by Y = C + KaN1-a where C is a positive constant. Does an increase in C affect the marginal product of any factor? Will it affect labor productivity?
Most engineering students own a computer. What cost have you incurred at each stage of your computers life cycle Estimate the total cost of ownership. Estimate the benefits of ownership. Has it been worth its.
What is the major problem in achieving an efficient use of the world's water If there were a global market in water, like there is in oil, how do you think the market would work Would a free world market in water achieve an efficient use of the ..
You are hired as the consultant to a monopolistically competitive firm. The firm reports the following information about its price, marginal cost, and average total cost. Can the firm possibly be maximizing profit If not, what should it do to incr..
Draw a graph of the UK labour market that shows the demand for labour, the supply of labour, and the real wage rate in 1973 and 2003. Draw a graph of the UK production function in 1973 and 2003. Make sure your graph shows potential GDP in both year..
Explain what accounts for the Hong Kong Monetary Authority behaving differently than the other central banks in emerging Asia.
Is it wrong to use the total income test for elasticity, when there is a direct relationship between price and total revenue the demand is elastic.
Discuss the concept of 'instruments and targets' in macroeconomic policy and assess how this concept might be applied to the current policy framework in Australia.
Explain how much utility will the marginal dollar yield.
Short-Run Economic Costs Suppose a firm has a short-run cost equation of C(q) = 0.1q3 - 3q2 + 60q + 1000, and short-run marginal cost equation of MC(q) = .3q2 - 6q + 60, if the firm produces 25 units of output: Use the MC(q) equation to solve for t..
Charles pays $120,000 for a single-life annuity that pays him $11,000 a year for life.Treasury Department tables estimate his remaining life to be 15 years.
Joining marketsplace or developing countries across the world has presented attractive opportunities to global companies and thus, boosted FDI.
Assume a society manufacture only guns and butter. When it uses all its resources for the production of guns and operates efficiently, it can manufacture 240 guns a year.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd