Consider production function ql12k2 does this production

Assignment Help Microeconomics
Reference no: EM13387663

Consider the production function Q=L1/2+K2.

a) What is the expression for MRTSL,K given this production function?

b )Does this production function exhibit diminishing marginal product of capital? Explain how you know.

c) Does this production function exhibit diminishing marginal product of labour? Explain how you know

d) Does this production function exhibit diminishing marginal rate of substitution (L for K)? Explain how you know.

Reference no: EM13387663

Questions Cloud

1 how is the income statement of service company different : 1. how is the income statement of a service company different from the income statement of a merchandising company?2.
The discussion board db is part of the core of online : the discussion board db is part of the core of online learning. classroom discussion in an online environment requires
For this payoff table find out transrails optimal decision : transrail is bidding on a project that it figures will cost 400000 to perform. using a 25 markup it will charge 500000
For these assignments youre asked to make a refection paper : for these assignments you are asked to prepare a refection paper. after you have finished the reading assignment for
Consider production function ql12k2 does this production : consider the production function ql12k2.a what is the expression for mrtslk given this production function?b does this
Describe the pros and cons of stock options do you consider : 1 what are some important steps that should be taken when considering the investment potential of a franchise?2 discuss
Understanding supply chain and how the consumer can play a : understanding supply chain and how the consumer can play a critical role in the supply chain is an important part of
Identify what strategic leadership skills are needed for : imagine that you are the entrepreneur who has created a successful new venture. the venture is posed to expand
Find the marginal cost curve for each firm find out the : the chair-making industry currently consists of 90 producers all of whom operate with the identical short-run total

Reviews

Write a Review

Microeconomics Questions & Answers

  Computing industry price and quantity supplied

Compute the industry prices necessary to induce short-run quantities supplied by the firm of 5,000, 10,000, 15,000 tons of sweet peas. Assume that MC>AVC at every point along the firm's marginal cost curve and that total costs include a normal pro..

  Explain why using the gravity model

Over the past few decades, East Asian economies have increased their share of world GDP. Similarly, intra-East Asian trade-that is, trade among East Asians nations-has grown as a share of world trade. More than that, East Asian countries do an in..

  Find the long run equilibrium for monopolistic competition

Graph an increase in demand when supply is elastic and show the change in eq. P and Q. Graph a similar increase in demand when supply is inelastic and show the change in eq. P and Q. Compare the results. Graph a market with a tax where firms pay th..

  How do rachet effect affect anti inflationary fiscal policy

What are governments fiscal policy options for moving the economy out of a recession Speculate on which of these fiscal options might be favored by a person who wants to preserve the size of government and a person who thinks the public sector is ..

  Examples of agricultural products

Name other examples of agricultural products that have attempted to differentiate themselves. How have they differentiated their product?

  Using diagrams the likely effect on the market for

using diagrams the likely effect on the market for traditional butcher servicesdraw a diagram that shows the main

  For livia coffee and tea are perfect substitutes one cup of

for livia coffee and tea are perfect substitutes one cup of coffee is equivalent toone cup of tea. suppose livia has 90

  What is second degree price discrimination

Graph the typical consumer’s demand curve. Use your graph to figure out what price Philadelphia Electric should charge for the first 400 Kilowatts used. What should it charge for the next 400 Kilowatts? the next 400?

  What is the consumer surplus

What is the consumer surplus [loss] associated with the merger and what was the profit before the merger? after? increase? How does the consumer loss compare to the increase in profit?

  1 i am risk avers and trying to maximize my expected value

1. i am risk avers and trying to maximize my expected value of c0.5 were c is my fortune. i have 50.000 in cash and art

  Question related to monopolistic competition

Do you think the overall level of R&D would rise or reduce over the next twenty to thirty years if the lengths of new patents were extended from twenty years to, say "forever"?

  Marginal cost of paper cup productions

Make a table showing the marginal cost of paper cup productions. What is the minimum price necessary for company to supply one thousand cups?

Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd