Total product function, Suppose you are given the following

Total product function

Assignment Help Business Economics

Reference no: EM13773985

Suppose you are given the following Total Product Function: Q=100K^3/2 L^4/2 M^4/7,where Q is total output or units produces; K, capital; L, labor; and M, materials.; that is, this is a input factor production function.

1) Discuss the returns to scale.

Reference no: EM13773985

Questions Cloud

When do biologists speak of chromatids : 1. When do biologists speak of chromatids? What is the difference between chromatids and chromosomes.2. What specific job do histones have? How does it work?

Have you made any ethical violations explain : Your promotion will provide you with a handsome pay increase and allow you to get your family to live in a nicer and safer neighborhood that is closer to work and has better schools. Have you violated any laws by your actions or inactions? Have yo..

Conditions or impacts in developing countries : Not all countries have moved through all 4 phases of the demographic transition. You are a consultant for a developing country that is not yet in phase IV of demographic transition.

The organizational changes issues : Identify motivational theories that will assist managers to motivate their staff for the change.

Total product function : Suppose you are given the following Total Product Function: Q=100K^3/2 L^4/2 M^4/7,where Q is total output or units produces; K, capital; L, labor; and M, materials.; that is, this is a input factor production function. Discuss the returns to scale.

Write an essay about jim johns movie : Write an essay about jim johns movie.

Definition of the crime and crime rate : Compare and contrast the two (2) countries for their definition of the crime, crime rate, and tools used to measure the crime. Determine each country's legal traditions and their major influences on crime definition, rate, and measurement

What is the shut-down price for the firm : Assume that the market for wheat is perfectly competitive, with demand curve P = 5000 ? 0.01QD and a supply curve P = 1+0.1QS. Each identical wheat producer has a total cost curve given by T C = 1+Q+Q2 , which results in marginal cost of MC = 1 + 2Q...

What changes to the network topology or design must be made : After running for several months with a single router and a single Internet Service Provider, Netstack College wants to improve the reliability of their Internet connection. They have contracted with a second ISP so they will have two connections ..

User Account

All Pages