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Author Question: Let the production function be q = ALaKb. Returns to scale are equal to A) a b. B) a + b. C) ... (Read 123 times)

Alainaaa8

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on: Jul 1, 2018
Let the production function be q = ALaKb. Returns to scale are equal to
 
  A) a  b.
  B) a + b.
  C) La + Kb.
  D) A  L.

Question 2

There are two consumers in the market, Jack and Jane. Each have some coffee and candies (coffee on the horizontal axis). Jack's MRS of candies for coffee is 3. Jane's MRS of candies for coffee is 3.
 
  Which one of the following statements is incorrect? A) This allocation is on the contract curve.
  B) This can be a competitive equilibrium.
  C) This allocation is Pareto efficient.
  D) We can reallocate goods so as to make one person better off without harming another.
Microeconomics ¦ Perloff ¦ 8th Edition
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ebonylittles

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Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

D


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Alainaaa8

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Reply #2 on: Jul 1, 2018
Correct answers!


ebonylittles

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Reply #3 on: Jul 1, 2018
Great! Please up vote :D


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