This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: In the short-run if there is a surplus in the market for a product, the rationing function of price ... (Read 70 times)

dalyningkenk

  • Hero Member
  • *****
  • Posts: 598
on: Jul 1, 2018
In the short-run if there is a surplus in the market for a product, the rationing function of price can be expected to cause
 
  A) an increasing shift in the demand for the product.
  B) a decreasing shift in the supply of the product.
  C) an increase in the market price of the product.
  D) a decrease in the market price of the product.

Question 2

The Cobb-Douglas production function for a beer manufacturer is q=1.52L0.6K0.4. Assume that the firm's capital is fixed at 250 units, the rental rate of capital is 5 per unit, and the wage rate is 10 per hour.
 
  The amount of labor needed to produce q units of output is A) 0.0124q.
  B) 13.832q0.6.
  C) 0.0124q1.67.
  D) 13.832q1.67.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

fur

  • Sr. Member
  • ****
  • Posts: 309
Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

C


dalyningkenk

  • Member
  • Posts: 598
Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

alvinum

  • Member
  • Posts: 317
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Did you know?

Walt Disney helped combat malaria by making an animated film in 1943 called The Winged Scourge. This short film starred the seven dwarfs and taught children that mosquitos transmit malaria, which is a very bad disease. It advocated the killing of mosquitos to stop the disease.

Did you know?

The newest statin drug, rosuvastatin, has been called a superstatin because it appears to reduce LDL cholesterol to a greater degree than the other approved statin drugs.

Did you know?

The people with the highest levels of LDL are Mexican American males and non-Hispanic black females.

Did you know?

The ratio of hydrogen atoms to oxygen in water (H2O) is 2:1.

Red-bellied short-necked turtle Red-bellied short-necked turtle
How to find the inverse of any function (Part 2) How to find the inverse of any function (Part 2)
Importance of Considering Gestalt Principles in Product Design (1 of 2) Importance of Considering Gestalt Principles in Product Design (1 of 2)
Product Rule Product Rule
Look at the graph function shown belowPlea Look at the graph function shown belowPlea
A Short List of Human X-Linked Recessive and X-Linked Dominant Traitsa A Short List of Human X-Linked Recessive and X-Linked Dominant Traitsa
Video: Energy inputs and release in glycolysis Animation

For a complete list of videos, visit our video library