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Author Question: Suppose electricity (E) can be produced with coal (C) or gas (G) to operate steam turbines (T). ... (Read 79 times)

jlmhmf

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on: Jul 1, 2018
Suppose electricity (E) can be produced with coal (C) or gas (G) to operate steam turbines (T). Suppose gas is more efficiently burned than coal but that they are otherwise perfect substitutes. E = min((G + .5C), T). The isoquants between gas and coal will be
 a. hyperbolas
  b. quarter circles
  c. straight lines

Question 2

If Q = K1/3L2 the MPK is
 a. constant
  b. diminishing
  c. increasing


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janieazgirl

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

c

Answer to Question 2

b


jlmhmf

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Reply 2 on: Jul 1, 2018
Gracias!

laurnthompson

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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