Describe the shape of isoquant decreasing returns to scale

Assignment Help Econometrics

Reference no: EM13191875

Suppose the number of points on an economics midterm (P) can be characterized by the following production function:
P = 10H - 4B
where H is the number of hours spend studying and B is the number of beers in the week prior to the midterm.
Find the marginal product of H and B.
draw or describe the shape of isoquant,is it increasing, constant ,or decreasing returns to scale?

Reference no: EM13191875

Questions Cloud

Write the claim mathematically and identify h0 and ha : this test results prompts a state school administrator to declare that the mean score for the state's eighth graders on the examination is more that 260. at a=0.04 is there enough evidence to support the administators claim?

Determine quivalent annual worth of bridge : A new bridge across the Allegheny River in Pittsburg is expected to be permanent and will have an initial cost of $30 million. This bridge must resurfaced every 5 years at a cost of $1 million. The annual inspection and operating costs are estimat..

Which scale will allow her to make the tallest model : A building is 616 feet tall. For a class project, Kari is to make a scale model of the building to place in the front hall display case. The display case is 27 inches tall. Which scale will allow her to make the tallest model that will fit in the ..

What is the predicted production of a 20 foot tree : the yearly production of a 4 foot orange tree is 16 pounds of oranges. A 17 foot tree produces 82 pounds. Let h represent the height of an orange tree and p the number of pounds of oranges produced.

Describe the shape of isoquant decreasing returns to scale : Suppose the number of points on an economics midterm (P) can be characterized by the following production function: P = 10H - 4B where H is the number of hours spend studying and B is the number of beers in the week prior to the midterm.

Define secret code that uses elemental symbols to spell word : You believe you have cracked a secret code that uses elemental symbols to spell words. The code uses numbers to designate the elemental symbols.

Find the distance between the two cities : Town A is due south of town B, and their latitudes are 50 degrees N and 32 degrees N, respectively. Use 4000 miles as the radius of the earth and find the distance between the two cities, rounded to the nearest 10 miles.

Design and develop a unix file sharing system : Design and develop a UNIX file sharing system. For this task you will be required to develop a simple application in C programming language.

What is the vertical translation of the graph : for the past three years the manager of the math shoppe has observed that the stores revenue reaches a high of about $40,000 each december and a low of about 10,000 each june. a graph of the revenue over this three year period seems to indicate a ..

User Account

All Pages