Explain how would you characterize the returns-to-scale

Assignment Help Business Economics

Reference no: EM1352081

An industry can be characterized by the following production function:

(equation #1) Q = 5L0.60 C0.40

(a) Using Equation #1, what is the algebraic expression for the marginal productivity of labor?

(b) Using Equation #1, what is the algebraic expression for the average productivity of labor?

Reference no: EM1352081

Questions Cloud

Explain working on a software implementation project : Explain working with them on a software implementation project that will add barcode functionality to their current patient record system/custom-designed sleep-study software.

Thoughts regarding vulnerabilities surrounding computing : What are your thoughts regarding vulnerabilities surrounding the computing world today and the risks of computers being attacked.

Calculate standard deviations of the returns : Julie is planning buying stock in and only one of the following companies which runs a website against geared retirement income and has a 10 percent probability of returning 20 percent

How to determine the maturity : It is difficult to determine what makes an adult, an adult. It is not clearly related to age, or necessarily to maturity...I know plenty of 14 year olds that are more mature than many 30 year olds I know .

Explain how would you characterize the returns-to-scale : An industry can be characterized by the following production function. Explain how would you characterize the returns-to-scale in the industry.

Organizational behavior terminology and concepts paper : Organizational Behavior Terminology and Concepts Paper - Using the readings, articles, and/or your personal experiences, prepare a 700-1,050-word paper in which you explain the following key concepts and terminology

How far the proton travel before reaching its turning point : Vector has a magnitude of 7.20 units and makes an angle of 39.5° counter-clockwise from positive x-axis. Vector has a magnitude of 8.00 units and is directed along the negative x-axis.

Data dictionary serves as important data management tool : The data dictionary serves as an important data management tool by? assigning attributes to the data, maintaining data in updated form.

Describe how the passages support your opinion : Describe how the passages support your opinion and conclude your critique by summarizing your argument and re-emphasizing your opinion.

User Account

All Pages