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

Author Question: In the short-run if there is a surplus in the market for a product, the rationing function of price ... (Read 73 times)

dalyningkenk

  • Hero Member
  • *****
  • Posts: 598
on: Jul 1, 2018
In the short-run if there is a surplus in the market for a product, the rationing function of price can be expected to cause
 
  A) an increasing shift in the demand for the product.
  B) a decreasing shift in the supply of the product.
  C) an increase in the market price of the product.
  D) a decrease in the market price of the product.

Question 2

The Cobb-Douglas production function for a beer manufacturer is q=1.52L0.6K0.4. Assume that the firm's capital is fixed at 250 units, the rental rate of capital is 5 per unit, and the wage rate is 10 per hour.
 
  The amount of labor needed to produce q units of output is A) 0.0124q.
  B) 13.832q0.6.
  C) 0.0124q1.67.
  D) 13.832q1.67.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

fur

  • Sr. Member
  • ****
  • Posts: 309
Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

C


dalyningkenk

  • Member
  • Posts: 598
Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

tuate

  • Member
  • Posts: 332
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

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?

The familiar sounds of your heart are made by the heart's valves as they open and close.

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

Did you know?

Patients who have undergone chemotherapy for the treatment of cancer often complain of a lack of mental focus; memory loss; and a general diminution in abilities such as multitasking, attention span, and general mental agility.

Did you know?

The first successful kidney transplant was performed in 1954 and occurred in Boston. A kidney from an identical twin was transplanted into his dying brother's body and was not rejected because it did not appear foreign to his body.

The rate of evolution in short­ and long­lived plants The rate of evolution in short­ and long­lived plants
Probability of Major Depression as a Function of 5-HTT Allele and Levels of Maltreatment ... Probability of Major Depression as a Function of 5-HTT Allele and Levels of Maltreatment ...
Immunoglobulin Function Immunoglobulin Function
How to evaluate and sketch a piecewise function containing absolutes (Part 2) How to evaluate and sketch a piecewise function containing absolutes (Part 2)
How to combine and sketch transformations of a sinusoidal function (Question 2) (y=a*sin⁡b(x−c)+d) How to combine and sketch transformations of a sinusoidal function (Question 2) (y=a*sin⁡b(x−c)+d)
Graph to Function Cosine Graph to Function Cosine
Video: Cavernous Sinus Larynx Middle Ear Orbit: Granulesm Animation

For a complete list of videos, visit our video library