Do the following functions exhibit increasing, constant, or decreasing returns to scale? What happens to the marginal product of each individual factor as that factor is increased and the other factor held constant?
a. q = 3L+2K
b. q = (2L + 2K) ^.5
C. q=3LK^2
d. q=L^.5K^.5
e. q=4L^.5 + 4K
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Do the following functions exhibit increasing, constant, or decreasing returns to scale? What happens to the marginal product of each ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Country A had a population of 2,000, of whom 1,300 worked an average of 8 hours a day and had a productivity of 5. Country B had a population of 2,500, of whom 1,700 worked 8 hours a day and had productivity of 4. Country a.
Answers (1)
16. Probett's Auto Body Repair Shop had revenues that averaged $90,000 per week in April and $80,000 per week in May. During both months, the shop employed six full-time (40 hours/week) workers.
Answers (1)
Palming off: a. is the same as trademark infringement. b. requires proof of the likelihood of confusion. c. is a statutory protection in competition. d. is a federal crime. e. none of the above
Answers (1)
The Whole Community approach refers to different organizations within the Federal Government.
Answers (1)
Now suppose that the government of grance imposes an export tariff of $1600 per ton on wine. how much revenue will the government collect from this tariff?
Answers (1)
New Questions in Business
The Inventory account is used in each of the following except: the entry to record goods purchased on account. the return of goods purchased. payment of freight on goods sold. payment within the discount period.
Answers (1)
What are the advantages of having the federal reserve oversee the regulation of the banking system?
Answers (1)
The Dow Jones Industrial Average is: a A good measure of the strength of the U. S. economy b Very stable from day to day c An indicator of the long-term value of stocks d Can predict global markets
Answers (2)
An analysis of the accounts shows the following. 1. The equipment depreciates $248 per month. 2. One-third of the unearned rent was recognized as revenue during the quarter. 3. Interest of $550 is accrued on the notes payable. 4.
Answers (1)
On May 31, the following data were accumulated to assist the accountant in preparing the adjusting entries for Oceanside Realty: a. Fees accrued but unbilled at May 31 are $7,780. b. The supplies account balance on May 31 is $2,560.
Answers (1)