Solve for the marginal products of capital and labor

Assignment Help Business Economics
Reference no: EM13837227

Q=AK^aL^b (cobb-douglas fuction)

Where A,a, and b are positive constants.

a. solve for the marginal products of capital and labor.

b. for what values of a and b will production function exhibit diminishing marginal returns to capital and labor?

c. solve for the marginal rate of technical substitution.

Reference no: EM13837227

Questions Cloud

Monopolist with a straight-line demand curve : A monopolist with a straight-line demand curve finds that it can sell one unit at $9 each or nine units at $1 each. Its marginal cost is constant at $2 per unit.
Is there a universal code for ethical business behavior : Is there a universal code for ethical business behavior? (Check the December 2005 issue of Harvard Business Review for Up to Code: Does Your Company Meet World-Class Standards? by Lynn Paine, Rohit Deshpande, Joshua D. Margolis, and Kim Eric Bettcher..
Opening up untapped markets worth considering entrepreneurs : Consider the assumption that the poor are hard to reach. Is the comment offered about opening up untapped markets worth considering by entrepreneurs?
Differences between civil law and criminal law : What are the major differences between Civil Law and Criminal Law? What is the influence, if any, of the US Constitution on both of these areas of law? What is the difference of the penalties that can be invoked in borh of these areas of law
Solve for the marginal products of capital and labor : Where A,a, and b are positive constants. solve for the marginal products of capital and labor. for what values of a and b will production function exhibit diminishing marginal returns to capital and labor?
Evaluate human resource strategies : Evaluate human resource strategies
Measurement of gross domestic product-consumer price index : What do the problems with the measurement of the Gross Domestic Product (GDP), Consumer Price Index (CPI) and unemployment rate statistics mean about the actual state of the economy as compared to what the statistics indicate. Is the country really d..
What is the major difference between summons and subpoena : What is the major difference between a summons and a subpoena? Which area of law uses only a subpoena and why? How may a subpoena be used in a Civil case
Structured systems analysis and design : What is the difference between a context diagram and diagram 0? Which symbol is not used in a context diagram?

Reviews

Write a Review

Business Economics Questions & Answers

  Most android phones struggle to be profitable

How is Apple able to maintain high profit margins on its phones, while most Android phones struggle to be profitable? Select the answers that apply and give justification for your choices.

  The annual additional energy requirement

The annual additional energy requirement is 350,000,000 kilowatt-hours. The cost of energy from Canada is 1.48 cents per kilowatt-hour for the first year. The price will be escalated at 4 percent annually for the 20-year contract period.

  Explain using a diagram how a tax cut in period two affects

Explain using a diagram how a tax cut in period two affects consumption in both periods. Assume that average consumer does not believe that he/she or anyone in family will ever have to pay higher taxes in future to offset current cuts.

  Western county bank scenario

Western County Bank is a small community bank that makes a modest profit by providing small business and personal loans to customers within the county and surrounding areas.

  What is the amount of flood control which will be purchased

Suppose the residents of Toadhop live on the Quabache River which is a river prone to flooding. Suppose there are 1000 (type A) people who value flood control more than 1000 (type B) people. If the citizens of Toadhop do not work together, what is th..

  Find the equilibrium values of the real interest rate

Find the equilibrium values of the real interest rate, consumption, investment, and the price level.

  Consider model of team production in which total incomearrow

Consider the model of team production in which total incomearrow-10x10.png is four times the total amount of effort supplied. there are two individuals on the team and each individuals on the team and each individual i has the utility function u dete..

  Condemned utilitarianism as an immoral ethical theory

The German philosopher Immanuel Kant condemned Utilitarianism as an immoral ethical theory mainly because:

  If production of an item results in negative external costs

If production of an item results in negative external costs, then the market price is below the socially referred price that reflects the external costs the market price is above the socially preferred price that reflects the external costs market fo..

  Impact on equilibrium price would be ambiguous

Equilibrium price would decrease, but the impact on equilibrium quantity would be ambiguous. d. Equilibrium quantity would increase, but the impact on equilibrium price would be ambiguous.

  Q1 compute the elasticity of demand for fords automobiles

q1. compute the elasticity of demand for fords automobiles or choose a specific make model and interpret what the

  Charging for each checked baggage

Recently American Airlines started charging $15 for each checked baggage. Why did the company simply not charge $15 to $20 more per ticket, and quietly avoid this publicity? responses to this topic.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd