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 201 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?

On average, someone in the United States has a stroke about every 40 seconds. This is about 795,000 people per year.

Did you know?

The training of an anesthesiologist typically requires four years of college, 4 years of medical school, 1 year of internship, and 3 years of residency.

Did you know?

To prove that stomach ulcers were caused by bacteria and not by stress, a researcher consumed an entire laboratory beaker full of bacterial culture. After this, he did indeed develop stomach ulcers, and won the Nobel Prize for his discovery.

Did you know?

According to research, pregnant women tend to eat more if carrying a baby boy. Male fetuses may secrete a chemical that stimulates their mothers to step up her energy intake.

Did you know?

As the western states of America were settled, pioneers often had to drink rancid water from ponds and other sources. This often resulted in chronic diarrhea, causing many cases of dehydration and death that could have been avoided if clean water had been available.

Primary production is positively correlated with the evapotranspiration rate. Primary production is positively correlated with the evapotranspiration rate.
Incentive spirometry. A portable incentive spirometer is useful for encouraging patients to exercise Incentive spirometry. A portable incentive spirometer is useful for encouraging patients to exercise
The Scopes Trial: William Jennings Bryan (right) represented the state of Tennessee, and Clarence Da The Scopes Trial: William Jennings Bryan (right) represented the state of Tennessee, and Clarence Da
How to use the chain rule to find the derivative of a function How to use the chain rule to find the derivative of a function
How to use L’Hospital’s Rule to find the limit of a function (Part 1) How to use L’Hospital’s Rule to find the limit of a function (Part 1)
Structure and function of the gills of a bony fish. Structure and function of the gills of a bony fish.
Video: Stages of Mitosis - Prophase, Prometaphase, Metaphase, Anaphase & Telophase

For a complete list of videos, visit our video library