Does the production function exhibit diminishing returns

Assignment Help Macroeconomics

Reference no: EM13224238

Suppose that the production function for a commoity is give
\(Q=10\sqrt{JK}\)
n by

where Q is the quantity of output, L is the quantity of labor, and K is the quantity of capital.

(a) Indicate whether this production function exhibits constant, increasing, or decreasing returns to scale.

(b) Does the production function exhibit diminishing returns? If so, when does the law of diminishing returns begin to operate? Could we ever get negative returns?

Reference no: EM13224238

Questions Cloud

Define what is the concentration of a solution : a sample of riboflavin has a molar absorptivity of 1.67 x 10^3 L(mol x cm). What is the concentration of a solution with an absorbance of 0.484? The pathlength is 1.00cm.

What is probability that makes at least two of free throws : A college basketball player makes 77% of his free throws. At the end of a game, his team is losing by two points. He is fouled attempting a three-point shot and is awarded three free throws. Assuming each free throw is independent.

Explain sodium hydrogen carbonate : sodium hydrogen carbonate how do I figure out how many moles of carbon dioxide are in the balloon? The circumference of the balloon is 5.89 cm.

Explain the fischer esterification of formic acid : The tetrahedral intermediate in the Fischer esterification of formic acid (HCO2H) with 1-butanol has the structure

Does the production function exhibit diminishing returns : (a) Indicate whether this production function exhibits constant, increasing, or decreasing returns to scale. (b) Does the production function exhibit diminishing returns If so, when does the law of diminishing returns begin to operate.

What is the probability that professor moore wakes up : Professor Moore forgets to set his alarm with a probability of .10. If he sets the alarm, it will wake him on time to make his first class with a probability of .95. If he forgets to set the alarm, he wakes up in time for his first class with a pr..

Explain the assumptions behind the centre-of-gravity method : Compute the forecast for year 6 using exponential smoothing, an initial forecast for year 1 of 3,000 miles, and α = 0.3 and Explain the assumptions behind the centre-of-gravity method. How can the model be used in a service facility location?

Explain genetic mutation : Define a genetic mutation and state the type of genetic mutation. Discuss the effects of genetics mutation

User Account

All Pages