Microeconomics

If a technological change occurs such that the production function shifts from q = 10K0.5 L0.5 to ...

Started by bobbysung

Production occurs using the fixed-proportion combination of one worker for every one unit of ...

Started by maegan_martin

The above figure shows the isoquants for the production of steel. In which regions of production are ...

Started by lbcchick

Provide a graph and an explanation to show that the production function Q = L0.5K0.5 has diminishing ...

Started by erika

Show that increasing returns to scale can co-exist with diminishing marginal productivity.

Started by bobthebuilder

The above figure shows the isoquants for producing steel. Increasing returns to scale are

Started by ashley « 1 2  All »

Suppose the production of mp3 players can be represented by the following production function: Which ...

Started by dbose

The table in the above figure shows the levels of output resulting from different levels of inputs. ...

Started by bb

What is the MRTS for a firm with the following production function, q = 10L0.5K0.3?

Started by colton

Which graph in the above figure represents the isoquants where, as the amount of labor used ...

Started by kamilo84

Lectures in microeconomics can be delivered either by an instructor (labor) or a movie (capital) or ...

Started by kshipps

In the above figure, Graph D with Capital on the vertical axis and labor on the horizontal axis implies that

Started by jrubin

At Joey's Lawncutting Service, a lawn mower cannot cut grass without a laborer. A laborer cannot cut ...

Started by jjjetplane

Each additional worker produces two extra units of output until the first three units are produced ...

Started by imanialler

The above figure depicts a short-run production function for Albert's Pretzels. The marginal ...

Started by Tazate « 1 2 3  All »

For a linear production function, q = f(L,K) = 4L + 2K, what is the short-run production function ...

Started by asd123

Suppose the typical consumer only purchases food and clothing, and her utility can be expressed as . ...

Started by ishan

Suppose Joe earns $1,000 in Year 1 and $0 in Year 2. Any amount he saves will earn interest at a ...

Started by urbanoutfitters

In the above figure point A is the original consumption point. The movement from point A to point C ...

Started by lb_gilbert

Draw budget constraints, indifference curves, and the income consumption curve for a good that has ...

Started by stock

The above figure shows three different Engel curves. Rank them in terms of income elasticity.

Started by V@ndy87

An individual derives utility from games, g (y-axis), and toy airplanes, a (x-axis), described by ...

Started by captainjonesify

Which graph in the above figure best represents a good that is an inferior good at some income ...

Started by Tazate

When John was in college and his income was low, he drank "Red Ribbon" beer. As his income ...

Started by segrsyd

Even though Mary's income is very low, she makes sure that she purchases enough milk for her family ...

Started by Chloeellawright