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
The difference between cooperative and non-cooperative games is
a. cooperative games allow side payments to support collusion
b. non-cooperative games encourage communication of sensitive information between arms-length competitors
c. cooperative games involve randomized behavior
d. cooperative games necessitate an explicit order of play
e. inconsequential except when players have contractual relationships
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Complete the following production chart and plot the points.
Write equilibrium constant expressions for the following reactions in terms of concentration:
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