This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: How much do outputs increase when labor and capital increase from 1 to 2 units for the following ... (Read 124 times)

RODY.ELKHALIL

  • Hero Member
  • *****
  • Posts: 591
on: Jul 1, 2018
How much do outputs increase when labor and capital increase from 1 to 2 units for the following production function , q = 10L0.5K0.3?
 
  A) 7.4 units
  B) 7 units
  C) 8 units
  D) None of the above.

Question 2

Does this production function, q = 10L0.5K0.3, experience increasing, decreasing or constant returns to scale?
 
  A) Decreasing because a 100 increase in inputs increases outputs by 80.
  B) Increasing because an 80 increase in inputs increases outputs by 100.
  C) Decreasing because 0.5 + 0.3 < 1.
  D) A and C.
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

kaylee05

  • Sr. Member
  • ****
  • Posts: 318
Reply #1 on: Jul 1, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 55% of students answer this correctly


RODY.ELKHALIL

  • Member
  • Posts: 591
Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

JCABRERA33

  • Member
  • Posts: 344
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Automated pill dispensing systems have alarms to alert patients when the correct dosing time has arrived. Most systems work with many varieties of medications, so patients who are taking a variety of drugs can still be in control of their dose regimen.

Did you know?

The calories found in one piece of cherry cheesecake could light a 60-watt light bulb for 1.5 hours.

Did you know?

There are more sensory neurons in the tongue than in any other part of the body.

Did you know?

Everyone has one nostril that is larger than the other.

Did you know?

Addicts to opiates often avoid treatment because they are afraid of withdrawal. Though unpleasant, with proper management, withdrawal is rarely fatal and passes relatively quickly.

Young adults increase in self-esteem between the ages of 18 and 25, according to this longitudinal s Young adults increase in self-esteem between the ages of 18 and 25, according to this longitudinal s
How an Increase in Income Inequality Affects the Desired Tax Rate How an Increase in Income Inequality Affects the Desired Tax Rate
Capital-Biased Technological Change Capital-Biased Technological Change
Labor Labor
An inventory record sheet shows a balance on hand of 972. During the month units sold were 111, ... An inventory record sheet shows a balance on hand of 972. During the month units sold were 111, ...
Neurons and glia: Neurons are the basic functional units of the brain Neurons and glia: Neurons are the basic functional units of the brain
Video: Effect of blood chemistry - stimuli, hyperventilation response and hypoventilation response

For a complete list of videos, visit our video library