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Determine the Returns to ScaleUse the following production function and budget constraint to answer the questions below.
Q = L + K
1000 = 2L + 4Ka. Determine the returns to scale property of the production function.b. Determine the returns property to each factor.c. Determine the optimal quantities of labor and capitald. Determine the maximum quantity that can be produced.e. Determine the production relationship between labor and capital.
About Bounce Fitness Bounce Fitness provides a range of services and arrange various sessions and programs in the area of fitness that helps to the people to be healthy. The
Question : (a) Suppose Firm A is a perfectly competitive firm producing good X and faces the following average revenue and average cost Average Revenue: P = 10 Average Co
Does the curve represent if the risk is NOT taken and the line connecting two points on the curve represents if the risk IS taken?
Question 1: "The rush of new and existing enterprises to exploit the opportunities presented by the internet economy is giving rise to new business models". Discuss. Ques
Use of ppc in microeconomics
RECENT DEVELOPMENT IN DEMAND ANALYSIS: For many years economic theorists analysed the optimal behaviour of consumers while econometricians estimated consumer demand and expend
Relation between TP and MP: Graphically, given the total product curve, MP is the slope of the tangent at any point on the TP curve. This is shown in Figure. See that
How elasticity is always referred to as a positive value even though it can be negative? In economics, elasticity is measures of the incremental percentage change in single va
f(x1 x2,x3,x4) =min(x1/4x22/3,x3+2x4)
a) An enhances in the quantity demanded of a good can happen because consumers expect the price of that good to enhance in the near future. b) A price ceiling imposed above the
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