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 Function Consider a production technology that uses two categories of factor inputs in production. Define K as the amount of capital input, L as the amount of labor input, x as the amount of output. The production function is x = F (K, L) =3K^1/3L^1/3 1. Calculate the marginal product of capital and labor respectively. Confirm that the law of diminishing marginal returns is satisfied. 2. Calculate the marginal rate of technical substitution (MRTS) of labor for capital. Draw an iso quant curve with output to be x0. Confirm that there exists a decreasing marginal marginal rate of technical substitution as L increases. 3.Confirm that this production function exhibits decreasing returns to scale.
Suppose a consumer’s preferences over goods 1 and 2 are represented by the utility function u(x, y) = (x+ y)^3. Draw an indifference curve for this consumer and indicate its slope.
A college student is buying a new car, which costs $18,000 plus 7% sales tax. The title, license, and registration fees are $600. The dealer offers her a financing program that starts with a monthly payment of $300, and each successive payment will i..
How large is economy of India? Indian GDP in 2010 was 78.9 trillion rupees,while U.S GDP was $14.5 trillion. The exchange rate in 2010 was 45.7 rupees per dollar. What is the ratio of Indian GDP to U.S. GDP if we do not take into account the differe..
q1. 1. herzberg concluded that pay was not a motivator. if you were paid to get better grades would you be motivated to
The market price of cheeseburgers in a college town increased recently, and the students in an economics class are debating the cause of the price increase. Some students suggest that the price increased because several burger joints in the area have..
You borrowed $150,000 with a 30-years payback term and a variable APR that starts at 9% and can be changed every five years. What is the initial monthly payment? If, at the end of the five years, the lender’s interest rate changes to 9.75% APR, what ..
An investor has an opportunity to buy a parcel of land for $100,000. He plans to sell it in two years. What will the sale price have to be for the investor to get a 25% constant dollar before-tax ROR with inflation averaging 10% annually? What escala..
Listed below are the weekly sales from the household department at a local discount store: $35,000, $46,000, $28,000, $35,000, $68,000, and $52,000. Find the Arithmetic Mean, Median, and Mode.
A mining company is interested in obtaining the demand curve for coal. The firm's research department informs you the price elasticity of demand is -0.748, and the current price and quantity are $41 and 1,206 respectively. Price is measured in dollar..
Does this critical path make sense. Do your predecessors make sense. How accurate are your durations? What could be done to improve accuracy of your durations.
Suppose now that the government reduces (t) and increases (t') so that the government budget constraint continues to hold. What will be the effects on an individual con-sumer's consumptionin present
An entrepreneur took a one-month leave of absence. Elucidate how many units did she have to sell To facilitate turn a profit
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