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

Author Question: Suppose the production of mp3 players can be represented by the following production function: Which ... (Read 185 times)

dbose

  • Hero Member
  • *****
  • Posts: 597
on: Jun 18, 2019
Suppose the production of mp3 players can be represented by the following production function: Which of the following statements is (are) TRUE?
◦ Capital and labor can be substituted for one another.
◦ The marginal productivity of labor falls as labor increases in the short run.
◦ The production function has decreasing returns to scale.
◦ All of the above.
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 dbose on Jun 18, 2019

frre432

  • Sr. Member
  • ****
  • Posts: 347
Reply #1 on: Jun 18, 2019
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 50% of students answer this correctly


ahriuashd

  • Hero Member
  • *****
  • Posts: 535
Reply #2 on: Jun 18, 2019
Suppose the production of mp3 players can be represented by the following production function: Which of the following statements is TRUE?
◦ The production function has decreasing returns to scale.
◦ Returns to scale vary with the level of output.
◦ The production function has increasing returns to scale.
◦ The production function has constant returns to scale.


iceage

  • Guest
Reply #3 on: Jun 18, 2019
The production function has decreasing returns to scale.


ahriuashd

  • Hero Member
  • *****
  • Posts: 535
Reply #4 on: Jun 18, 2019
Excellent


iceage

  • Guest
Reply #5 on: Jun 18, 2019
Great! Please up vote :D


kaid0807

  • Hero Member
  • *****
  • Posts: 515
Reply #6 on: Jun 18, 2019
Suppose the production of mp3 players can be represented by the following production function: The firm currently produces q1 units. If all inputs doubled, the new level of output will equal
◦ 20.4 q1.
◦ 20.8 q1.
◦ 1.6 q1.
◦ 0.8 q1.


mceravolo

  • Sr. Member
  • ****
  • Posts: 349
Reply #7 on: Jun 18, 2019
20.8 q1.


« previous next »
 

Did you know?

The newest statin drug, rosuvastatin, has been called a superstatin because it appears to reduce LDL cholesterol to a greater degree than the other approved statin drugs.

Did you know?

More than 34,000 trademarked medication names and more than 10,000 generic medication names are in use in the United States.

Did you know?

In most cases, kidneys can recover from almost complete loss of function, such as in acute kidney (renal) failure.

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

Did you know?

Never take aspirin without food because it is likely to irritate your stomach. Never give aspirin to children under age 12. Overdoses of aspirin have the potential to cause deafness.

Transformation of Exponential Function Transformation of Exponential Function
Reaction velocity as a function of substrate concentration Reaction velocity as a function of substrate concentration
How to vertically shift a sinusoidal function (y=a*sin⁡b(x−c)+d) How to vertically shift a sinusoidal function (y=a*sin⁡b(x−c)+d)
Production of ATP in Skeletal Muscle Production of ATP in Skeletal Muscle
Suppose that we have a sample space with five equally likely experimental outcomes: E1, E2, E3, ... Suppose that we have a sample space with five equally likely experimental outcomes: E1, E2, E3, ...
Suppose a country imports televisions. The country's supply and demand curves are shown in ... Suppose a country imports televisions. The country's supply and demand curves are shown in ...
Video: Angiotensin II - kidneys, adrenal glands and dehydration

For a complete list of videos, visit our video library