« previous next »

Author Question: Find the Marginal Rate of Technical Substitution for the following production functions: a. q = ... (Read 123 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?

Limit intake of red meat and dairy products made with whole milk. Choose skim milk, low-fat or fat-free dairy products. Limit fried food. Use healthy oils when cooking.

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

Did you know?

In 1844, Charles Goodyear obtained the first patent for a rubber condom.

Did you know?

In most climates, 8 to 10 glasses of water per day is recommended for adults. The best indicator for adequate fluid intake is frequent, clear urination.

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.

Nursing student will find it funny Nursing student will find it funny
How to find the derivatives of exponential functions How to find the derivatives of exponential functions
How to integrate trigonometric functions containing both tangent and secant (Question 1) How to integrate trigonometric functions containing both tangent and secant (Question 1)
Marginal Products of Physical and Human Capital Marginal Products of Physical and Human Capital
As a result of a hole in the graph, which of the following functions does not have an average ... As a result of a hole in the graph, which of the following functions does not have an average ...
Explain the myogenic autoregulation of the glomerular filtration rate Explain the myogenic autoregulation of the glomerular filtration rate
Video: Optic Nerve and Optic Disk Animation (Part 2 of 2)

For a complete list of videos, visit our video library