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Author Question: A production function may exhibit a. constant returns to scale and diminishing marginal ... (Read 74 times)

asmith134

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on: Jul 1, 2018
A production function may exhibit
 a. constant returns to scale and diminishing marginal productivities to all inputs.
  b. constant returns to scale and diminishing marginal productivities to all but one input, but at least one input must have a constant marginal productivity.
  c. constant returns to scale and diminishing marginal productivity to at most one input.
  d. constant returns to scale and diminishing marginal productivities for no inputs.

Question 2

A firm's rate of technical substitution is represented graphically by
 a. the slope of the line connecting the origin with the relevant point on the isoquant.
  b. the negative of the slope of the line connecting the origin with the relevant point on the isoquant.
  c. the slope of the isoquant at the relevant point.
  d. the negative of the slope of the isoquant at the relevant point.


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Silverbeard98

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

a

Answer to Question 2

d


asmith134

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Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

ebonylittles

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Reply 3 on: Yesterday
:D TYSM

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