Consider the production function f(x 1 , x 2 ) = 4x 1 1/2 x 2 1/3
Question:
Consider the production function f(x1, x2) = 4x11/2x21/3. Does this exhibit constant, increasing, or decreasing returns to scale?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 70% (10 reviews)
Decre...View the full answer
Answered By
Lisper Wanja
I am an experienced and highly motivated writer with a passion for the skills listed. I have a proven track record of my expertise and my aim is to deliver quality, well-detailed and plagiarism free projects. My genuine passion for writing combined with my ongoing professional development through school and research makes me an ideal candidate within for any assignment.
4.90+
233+ Reviews
388+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Consider the production function f(x 1 , x 2 ) = x 2 1 x 2 2 . Does this exhibit constant, increasing, or decreasing returns to scale?
-
Consider the production function Q = 10L -.5L2 + 24K - K2 for L and K in the range 0 to 10 units. Does this production function exhibit diminishing returns to each input? Does it exhibit decreasing...
-
Consider the production function Q = K + L. For this production function, MPL = 1/(2L) and MPK = 1. Derive the input demand curves for L and K, as a function of the input prices w (price of labor...
-
Modesto Trading Berhad has recently appointed Messrs. Suresh Kumar & Co., Chartered Accountants, to audit the companys financial statements for the year ended 30 June 2021. You are assigned by...
-
This case discusses the concerns associated with having a formal base pay system, and communication issues that occur. (For the case, go to www.cengage.com/management/mathis or visit the instructor...
-
Open the Emoji Solution.sln file contained in the VB2017\Chap01\Emoji Solution folder. If necessary, open the designer window. The interface contains one label control and one button. You can use a...
-
Why would companies want to achieve a fully digitized supply chain?
-
Assume the network and data that follow. Compute the total direct cost for each project duration. If the indirect costs for each project duration are $400 (19 time units), $350 (18), $300 (17), and...
-
Perform the indicated operations of the given matrices: 1. sum = A +B 2. difference1 B-A 3. difference2A-B -5 1 = [1, 1] A= 41 B = 6-3 2 3
-
A Horizontal curve is designed with a 600m radius and is known to have a tangent of 52 m the Pl is Station 200+00 determent the Stationing of the PT and all elements of for setting out the curve use...
-
The Cobb-Douglas production function is given by f(x 1 , x 2 ) = Ax a 1 x b 2 . It turns out that the type of returns to scale of this function will depend on the magnitude of a+b. Which values of a...
-
Calculate marginal products and technical rates of substitution for several frequently encountered production functions. Consider the production function f(x 1 , x 2 ) = 2x 1 + x 2 . The marginal...
-
\(\alpha=0.10\), d.f. \(_{\mathrm{N}}=20\), d.f. \(_{\mathrm{D}}=15\) Find the right- and left-tailed critical F-values for a two-tailed test using the level of significance \(\alpha\) and degrees of...
-
:EXAM-STYLE QUESTIONS The points A and B have coordinates (-2,-3,-4) and (-6, -7,-2) 1.0 respectively. The line 1, has equation r = a Show that point A lies on 1. b Show that AB is perpendicular to...
-
Figure 12.1. Sample team charter Team Charter Our team charter is an agreement among our team members about our team mission and goals, and the ground rules for behavior, operation, and management of...
-
For each of the following chord progressions indicate the key and then label each chord with its appropriate Roman numerals and inversion symbol For each of the following chord progressions, indicate...
-
Chapter 6 The Accounting Cycle: Statements and Closing Entries At the end of July, the following adjustments had to be journalized to properly report the balances of the company's accounts. Jul 31...
-
Content Innovative House. Most of the Drawing has items such as standard features such as garage door, front door, lights. Driveway, trees, landscaping. House Drawing has "unique' It stands out from...
-
What is an index number, and what is its value for the base period?
-
d. The characteristic equation of a control system is given by s+2s+8s+12s+20s+16+16=0. Determine the number of the roots of the equation which lie on the imaginary axis of s-plane
-
Grinch is the sole owner of a mineral water spring that costlessly burbles forth as much mineral water as Grinch cares to bottle. It costs Grinch $2 per gallon to bottle this water. The inverse...
-
Albatross Airlines has a monopoly on air travel between Peoria and Dubuque. If Albatross makes one trip in each direction per day, the demand schedule for round trips is q = 1602p, where q is the...
-
Alex and Anna are the only sellers of kangaroos in Sydney, Australia. Anna chooses her profit-maximizing number of kangaroos to sell, q1, based on the number of kangaroos that she expects Alex to...
-
Suppose the correlation between the stock euro returns of Siemens and the USD/EUR exchange rate is 0.2. The standard deviation of the USD/EUR is 10% and the standard deviation of Siemens's stock euro...
-
list and describe the three key client-related factors that the advisor is required to consider when developing a "suitable" investment portfolio for their client. Please cite resources used
-
Year 1 2 3 Amount ($) 2000 3000 4000 An investment made today will pays you the above cash flows at the end of each year. If your required rate of return is 5% annual interest, how much will you pay...
Study smarter with the SolutionInn App