Describe the cobb-douglas production function

Assignment Help Engineering Mathematics

Reference no: EM131789905

Question: 1. Can a Cobb-Douglas production function possess varying returns to scale? Explain!

2. Assume that the Cobb-Douglas production function for a beer manufacturer is q = 1.52 L^0.6 k^0.4. Calculate the average fixed cost if we also assume that the firm's capital is fixed at 250 units and the rental rate of capital is $5 per unit.

3. Discuss and explain the situation involving the tangency between the isocost line and the isoquant.

Reference no: EM131789905

Questions Cloud

Define the term principal-agent problem : Internal markets. Define the term principal-agent problem. What principal agent problems exists in the market? What principal agent problems exist in a firm?

Horizontal points of inflection : In each of Problem a graph of f'(x) is given. Use the graph to determine the critical values of f(x), where f(x) is increasing, where it is decreasing

Ethics and law : "Ethics and Law"-Is it okay for patients and providers to make these decisions on their own? Aren’t these privileged physician/patient decisions?

Determine the cost of goods available for sale : Glanville Distribution markets CDs of the performing artist Harrilyn Clooney. Determine the cost of goods available for sale

Describe the cobb-douglas production function : Discuss and explain the situation involving the tangency between the isocost line and the isoquant.

Determine the critical values : In each of Problem a graph of f'(x) is given. Use the graph to determine the critical values of f(x), where f(x) is increasing

Compute the break-even amount for each of the products : Based on the apportionment of fixed costs in the schedule for question 5, compute the break-even amount for each of the products in units and dollars

What does the statement mean related to the office : An expert claims that all things being equal, offices without a reception area tend to sell for less than those with a reception area.

Assess the benefits of two types of development activities : Assess the benefits of two types of development activities that would affect employee performance within a management training program

User Account

All Pages