If production is given by Q = KL, doubling both inputs a. more ...

[abern]

If production is given by Q = KL, doubling both inputs
 a. more than doubles output.
  b. exactly doubles output.
  c. increases output but does not double it.
  d. leaves output unchanged.

Question 2

Two games that differ only in the timing of movesone simultaneous, the other sequential movecan sometimes have completely different subgame-perfect equilibria. Why?
 a. The second mover to choose non-credible threats.
  b. The first mover can choose an action that it would deviate from if its action were secret.
  c. Subgame-perfect equilibrium cannot be applied to simultaneous games.
  d. All of the above.

[bubulittle310@msn.cn]

Answer to Question 1

a

Answer to Question 2

b