« previous next »

Author Question: Let the production function be q = ALaKb. Returns to scale are equal to A) a b. B) a + b. C) ... (Read 155 times)

Alainaaa8

  • Hero Member
  • *****
  • Posts: 576
on: Jul 1, 2018
Let the production function be q = ALaKb. Returns to scale are equal to
 
  A) a  b.
  B) a + b.
  C) La + Kb.
  D) A  L.

Question 2

There are two consumers in the market, Jack and Jane. Each have some coffee and candies (coffee on the horizontal axis). Jack's MRS of candies for coffee is 3. Jane's MRS of candies for coffee is 3.
 
  Which one of the following statements is incorrect? A) This allocation is on the contract curve.
  B) This can be a competitive equilibrium.
  C) This allocation is Pareto efficient.
  D) We can reallocate goods so as to make one person better off without harming another.
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


ebonylittles

  • Sr. Member
  • ****
  • Posts: 318
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

Alainaaa8

  • Hero Member
  • *****
  • Posts: 576
Reply #2 on: Jul 1, 2018
Correct answers!


ebonylittles

  • Sr. Member
  • ****
  • Posts: 318
Reply #3 on: Jul 1, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Did you know?

You should not take more than 1,000 mg of vitamin E per day. Doses above this amount increase the risk of bleeding problems that can lead to a stroke.

Did you know?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

Did you know?

Allergies play a major part in the health of children. The most prevalent childhood allergies are milk, egg, soy, wheat, peanuts, tree nuts, and seafood.

Did you know?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

A hypothesis that suggests an explanation of the function of the gene that is defective in patients A hypothesis that suggests an explanation of the function of the gene that is defective in patients
Part C - Structure and function of the human brain Part C - Structure and function of the human brain
Thyroid hormone production—Relationship between pituitary and thyroid glands. Thyroid hormone ... Thyroid hormone production—Relationship between pituitary and thyroid glands. Thyroid hormone ...
Fossil fuels production Fossil fuels production
Look at the graph function shown belowPlea Look at the graph function shown belowPlea
Prove that each of the following real functions f has a discontinuity. For each function, ... Prove that each of the following real functions f has a discontinuity. For each function, ...
Video: What are Strong & Weak Acids and How they're different?

For a complete list of videos, visit our video library