Author Question: The concept that explains firms possessing different bundles of resources is a. Resource ... (Read 103 times)

yoooooman · **on:** Jul 1, 2018

The concept that explains firms possessing different bundles of resources is
a. Resource heterogeneity
b. Resource immobility
c. Barriers to entry
d. imitability

Question 2

The primary purpose of the Cobb-Douglas power function is to:
a. allow one to make estimates of cost-output relationships
b. allow one to make predictions about a resulting increase in output for a given increase in the inputs
c. aid one in gaining accurate empirical values for economic variables
d. calculate a short-run linear total cost function
e. a and b