Solution-Production functions exhibit constant returns to

Production functions exhibit constant returns to scale

Assignment Help Business Management

Reference no: EM131218589

Determine Which of the following production functions exhibit constant returns to scale (CRS). Hint: if you "scale up" by doubling the inputs used, do you doubles, less than double, or more than double the output?

a) Y=0.5K+0.3L

b) Y=(K L)^1/2

c) Y=min{K,0.3 L}

d) Y=K^0.3 L^0.5

Another hint: if you get stuck with the algebra, just guess values for K and L, compute output, then try doubling them.

Reference no: EM131218589

Questions Cloud

How is the unemployment rate determined : Let's begin our discussions by answering the following questions using the site at www.bls.gov , Bureau of Labor Statistics, along with your text to determine: How is the unemployment rate determined?

Analyze the meaning of the figurative language : Analyze the meaning of the figurative language. Explain your analysis clearly. Explain how the figurative language contributes to the tone of the poem. For example, explain how the poet's word choices build or maintain a sense of formality or infor..

Find steady mva fed into a dead short circuit : he section bus-bars A and B are linked by a bus-bar reactor rated at 5000 kVA with 10% reactance.- Find the steady MVA fed into a dead short circuit between all phases on B with bus-bar reactor in the circuit.

What does herbert kaufman mean by his quote : (1) What does Herbert Kaufman mean by his quote? (2) Give a specific (or imagined) example of how Kaufman's quote and Miles' Law play out in the real world. (2) Discuss a way this could be potentially harmful for the general public.

Production functions exhibit constant returns to scale : Determine Which of the following production functions exhibit constant returns to scale (CRS). Hint: if you "scale up" by doubling the inputs used, do you doubles, less than double, or more than double the output?

Reducing costsor on pricing strategies : Relative to managers in more monopolistic industries, are managers in more competitive industries more likely to spend their time on reducing costsor on pricing strategies?

Government bonds and have an average return : You want to retire (at age 65) as a millionaire (assuming current age of 30). How much do you need to put away each month if: You use corporate bonds and have an average return of 6%?

Production of cows milk and potatoes per unit of input : The following table shows the production of cows' milk and potatoes per unit of input in the hypothetical countries of St. Claire and St. Paul. Use the following table to answer the questions.

Why author title caetanas life story patriarchy confounded : Why does the author title Caetana's life story, "Patriarchy Confounded?" For example, how did an understanding of patriarchy within Caetana's own family come into conflict with the patriarchal authority of Tolosa?

User Account

All Pages

Production functions exhibit constant returns to scale

Reference no: EM131218589

Reference no: EM131218589

Questions Cloud

Reviews

Write a Review

Business Management Questions & Answers

Caselet on michael porter’s value chain management

Mountain man brewing company

Mountain man brewing company

Analysis of the case using the doing ethics technique

Affiliations and partnerships

Innovation-friendly regulations

Effect of regional and corporate cultural issues

Structure of business plan

Identify the purposes of different types of organisations

Entrepreneur case study for analysis

Forecasting and business analysis

Educational instructional leadership

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT