« previous next »

Author Question: Find the Marginal Rate of Technical Substitution for the following production functions: a. q = ... (Read 68 times)

dollx

  • Hero Member
  • *****
  • Posts: 558
on: Jul 1, 2018
Find the Marginal Rate of Technical Substitution for the following production functions:
 
  a. q = L0.5 K0.5
  b. q = L0.5 + K0.5
  c. q = minK,L
  d. q = L + K

Question 2

Resale is difficult when
 
  A) the good is light-weight.
  B) the good is expensive.
  C) transaction costs are high.
  D) transaction costs are negligible.


zenzy

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jul 1, 2018
Answer to Question 1

a. K/L
b. K/L
c. - infinity for K > L and 0 for L < K (undefined when K = L)
d. -1

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The immune system needs 9.5 hours of sleep in total darkness to recharge completely.

Did you know?

Medication errors are more common among seriously ill patients than with those with minor conditions.

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Did you know?

More than 4.4billion prescriptions were dispensed within the United States in 2016.

Relative rate test, calibrating the molecular clock, and calculating divergence dates. Relative rate test, calibrating the molecular clock, and calculating divergence dates.
Cotton Production and Slave Population, 1800–1860 Cotton Production and Slave Population, 1800–1860
Income per Capita versus Total Fertility Rate Income per Capita versus Total Fertility Rate
From the following function, find the value of a, so that the AROC From the following function, find the value of a, so that the AROC
Find the derivative of g(z) = 4z^7 - 3z^-7 + 9z Find the derivative of g(z) = 4z^7 - 3z^-7 + 9z
Find the resultant for the following force combinations Find the resultant for the following force combinations
Video: Types of Shock (Part 2 of 2)

For a complete list of videos, visit our video library