FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Let, production function, Q = 30 K0.7 L0.5,rate of interest = Rs 20, wage rate = Rs 30 i. Compute marginal productivity of two inputs

Let, production function, Q = 30 K0.7 L0.5,rate of interest = Rs 20, wage rate = Rs 30

i. Compute marginal productivity of two inputs lobar and capital.

ii. Derive an equation for the expansion path

iii. What is the efficient input combination underproduction quota Q = 200 and  Q=500?

Step by Step Solution

★★★★★

3.37 Rating (138 Votes )

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Physical Chemistry

Physical Chemistry

Authors: Thomas Engel, Philip Reid

3rd edition

805338423, 080533842X, 978-0321812001

More Books

Students also viewed these Economics questions

Question

★★★★★
Derive an equation for the probability that a particle characterized by the quantum number n is in the first 25% (0 x a/4) of an infinite depth box. Show that this probability approaches the...

Answered: 1 week ago

Question

★★★★★
Derive an equation for the net rate of radiant heat transfer from surface 1 in the system shown in the accompanying sketch. Assume that each surface is at a uniform temperature and that the...

Answered: 1 week ago

Question

★★★★★
For the compound geartrain, obtain an equation for the velocity and torque ratios in terms of the numbers of teeth labeled in Figure P8.20. Figure P8.20 Output Input Ns N6 N, II Ns N2 N; U N4

Answered: 1 week ago

Question

★★★★★
Mookie The Beagle Concierge Trial Balance As of January 31,2023 is given 1001 Checking 1010 Money Market 1100 Accounts Receivable (A/R) 1210 Prepaid Expenses:Supplies 1220 Prepaid Expenses:Insurance...

Answered: 1 week ago

Question

★★★★★
What are the HRM implications of globalization, technology, and e-commerce?

Answered: 1 week ago

Question

★★★★★
Business Wear Fashions manufactures one type of women's jacket, production in jobs to fill each customer order. These jackets are supplied to various department stores, and Business Wear sews the...

Answered: 1 week ago

Question

★★★★★
What are the implications of Lockes contention that there is nothing in the intellect that was not previously in the senses.

Answered: 1 week ago

Question

★★★★★
Banks in New Transylvania have a desired reserve ratio of 10 percent and no excess reserves. The currency drain ratio is 50 percent. Then the central bank increases the monetary base by $1,200...

Answered: 1 week ago

Question

★★★★★
Assume the total cost of a college education will be $300,000 when your child enters college in 18 years. You presently have $63,000 to invest. What annual rate of interest must you earn on your...

Answered: 1 week ago

Question

★★★★★
A major credit card company (call it MasterDebt) receives checks from all different regions in the country on a daily basis. Once these checks are mailed, the time a check spends in the mail (called...

Answered: 1 week ago

Question

★★★★★
1 . What is logistics and what does someone in logistics do ?

Answered: 1 week ago

Question

★★★★★
1. What is the Government's role in the Public-Interest Game. 2. What is a Kaizen System and what is the purpose of this system for the organization? 3. What is the cycle- market and what are the...

Answered: 1 week ago

Question

★★★★★
A 0 Q3 A steel plate with a square hole in the middle of the plate is subjected to a uniform distributed tensile stress of 1PQR N/m as shown in Figure Q3.1 The modulus elasticity of the plate is 210...

Answered: 1 week ago

Question

★★★★★
The sample data for 2 5 Ohio administrators is contained in the file named Administrator. What is the p value for your hypothesis test in part ( a ) ? If required, round your answer to four decimal...

Answered: 1 week ago

Question

★★★★★
Eli's employer covers 60% of the cost of a $4900-per-year health insurance plan, and Eli's share of the cost of the plan is his only optional deduction. How much is deducted from Eli's paycheck each...

Answered: 1 week ago

Question

★★★★★
Identify the appropriate method of data mining for identifying patterns when using if/then statements. rule induction decision tree K-nearest neighbor fuzzy logic

Answered: 1 week ago

Question

★★★★★
7. Salvador Company sells two products, as follows: Selling Price per Unit Variable Expense per Unit Product Y $300 $150 Product Z 700 300 Fixed expenses total $500,000 annually. The expected sales...

Answered: 1 week ago

Question

★★★★★
Why did management adopt the new plan even though it provides a smaller expected number of exposures than the original plan recommended by the original linear programming model?

Answered: 1 week ago

Question

★★★★★
The vapor pressure of an unknown solid is approximately given by ln(P/Torr) = 22.413 2211 (K/T), and the vapor pressure of the liquid phase of the same substance is approximately given by ln(P/Torr)...

Answered: 1 week ago

Question

★★★★★
What is the difference between the order of a reaction with respect to a given species and the overall order?

Answered: 1 week ago

Question

★★★★★
An ideal gas undergoes an expansion from the initial state described by P i , V i , T to a final state described by P f , V f , T in a. A process at the constant external pressure P f . b. In a...

Answered: 1 week ago

Question

★★★★★
(a) Fit a quadratic regression model to the data.

Answered: 1 week ago

Question

★★★★★
8. Orthogonal polynomials Consider use of the quadratic orthogonal polynomial regression model (8.7.19), page 260, for the data at levels 18, 24, and 30 of the bean-soaking experimentthe data are in...

Answered: 1 week ago

Question

★★★★★
(a) Compute the least squares estimates of the parameters.

Answered: 1 week ago

Previous Question Next Question