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 203 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?

Recent studies have shown that the number of medication errors increases in relation to the number of orders that are verified per pharmacist, per work shift.

Did you know?

According to the FDA, adverse drug events harmed or killed approximately 1,200,000 people in the United States in the year 2015.

Did you know?

In the United States, congenital cytomegalovirus causes one child to become disabled almost every hour. CMV is the leading preventable viral cause of development disability in newborns. These disabilities include hearing or vision loss, and cerebral palsy.

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

Did you know?

Vital signs (blood pressure, temperature, pulse rate, respiration rate) should be taken before any drug administration. Patients should be informed not to use tobacco or caffeine at least 30 minutes before their appointment.

Spinal cord—levels of injury; A, areas of sensory function (dermatomes); B, areas of motor function. Spinal cord—levels of injury; A, areas of sensory function (dermatomes); B, areas of motor function.
How to find the average value of a function How to find the average value of a function
How to find the domain and range of a function (Part 1) How to find the domain and range of a function (Part 1)
Write equation for each function Write equation for each function
Sketch a graph of the function h(x), by hand on the following interval: Sketch a graph of the function h(x), by hand on the following interval:
Structure and function of the gills of a bony fish. Structure and function of the gills of a bony fish.
Video: Proteins Defined, Hierarchy & Composition of Cells

For a complete list of videos, visit our video library