« previous next »

Author Question: Find the Marginal Rate of Technical Substitution for the following production functions: a. q = ... (Read 113 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?

Intradermal injections are somewhat difficult to correctly administer because the skin layers are so thin that it is easy to accidentally punch through to the deeper subcutaneous layer.

Did you know?

The largest baby ever born weighed more than 23 pounds but died just 11 hours after his birth in 1879. The largest surviving baby was born in October 2009 in Sumatra, Indonesia, and weighed an astounding 19.2 pounds at birth.

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

Did you know?

Giardia is one of the most common intestinal parasites worldwide, and infects up to 20% of the world population, mostly in poorer countries with inadequate sanitation. Infections are most common in children, though chronic Giardia is more common in adults.

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.

How to find derivatives of trigonometric functions How to find derivatives of trigonometric functions
How to find the critical numbers of a function How to find the critical numbers of a function
Someone help me find the x intercepts Someone help me find the x intercepts
The decay rate of a radioactive sample decreases from 175 kBq to 12.4 kBq in 18.3 s. What is ... The decay rate of a radioactive sample decreases from 175 kBq to 12.4 kBq in 18.3 s. What is ...
Calculus help: Find a cubic function f (x) = ax3 +bx2 +cx+d that has a local maximum value of 3 ... Calculus help: Find a cubic function f (x) = ax3 +bx2 +cx+d that has a local maximum value of 3 ...
Compute the rate of discount allowed on a rotor-tiller that lists for $341.00 and is sold for ... Compute the rate of discount allowed on a rotor-tiller that lists for $341.00 and is sold for ...
Video: Ear Virtual Tour Animation

For a complete list of videos, visit our video library