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Author Question: Suppose electricity (E) can be produced with coal (C) or gas (G) to operate steam turbines (T). ... (Read 73 times)

jlmhmf

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Suppose electricity (E) can be produced with coal (C) or gas (G) to operate steam turbines (T). Suppose gas is more efficiently burned than coal but that they are otherwise perfect substitutes. E = min((G + .5C), T). The isoquants between gas and coal will be
 a. hyperbolas
  b. quarter circles
  c. straight lines

Question 2

If Q = K1/3L2 the MPK is
 a. constant
  b. diminishing
  c. increasing



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janieazgirl

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Answer to Question 1

c

Answer to Question 2

b




jlmhmf

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Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review


kusterl

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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