Question: Compute where f (x, y) = 60x 3/4 y 1/4 , a production function (where y is units of capital). Explain why is always negative.

Compute2f ,2

where f (x, y) = 60x3/4y1/4, a production function (where y is units of capital). Explain why

is always negative.

2f ,2

Step by Step Solution

★★★★★

3.28 Rating (169 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

diminishing returns which says that as additional uni... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Applied Calculus Questions!

Q:

A liquid mixture containing 25 mol% benzene and 75 mol% ethyl alcohol, in which components are miscible in all proportions, is heated at a constant pressure of 1 atm (101.3 kPa, 760 tort) from a...

Q:

A firm has a monthly production function where L is hours of labor per month and K is square feet of manufacturing space. The marginal product of labor is The marginal product of capital is a. If the...

Q:

A firm has the monthly production function where L is worker hours per month and K is square feet of manufacturing space. a. Does the firm's technology satisfy the Productive Inputs Principle? b....

Q:

A firm has the monthly production function where L is worker hours per month and K is square feet of manufacturing space. a. If the hourly wage rate is $50 and manufacturing space costs $25 per...

Q:

I. Which of the following is correct? a) The pivot of the budget line shows the substitution effect while a slope gives the income effect. b) The pivot of the budget line shows the substitution...

Q:

seventh pages Chapter 3 Curve Sketching How much metal would be required to make a 400-mL soup can? What is the least amount of cardboard needed to build a box that holds 3000 cm3 of cereal? The...

Q:

Math\t107-6381\t-\tQuiz\t#4\t-\tSchultz\t-\tDue\tFebruary\t21,\t2016\t-\tpage\t1\tof 3 Follow\tthese\tdirections\tcarefully. This\tquiz\tis\tdue\tby\t11:59\tEastern\ttime\ton\tFebruary\t21,\t2016. o...

Q:

tax Consider the market for apple juice. In this market, the supply curve is given by QS = 10PJ 5PA and the demand curve is given by QD = 100 15PJ + 10PT , where J denotes apple juice, A denotes...

Q:

2.7. Explicit Solutions to Dierential Equations 109 power (kw) 20 15 10 5 0 08:00 10:00 12:00 14:00 16:00 time 18:00 2.7 Explicit Solutions to Dierential Equations In the very rare case in which an...

Q:

M 4086,) HOMEWORK 2 You should show all of your work unless instructed otherwise. Correct answers without appropriate supporting work will receive no credit. Problem 1. Let T(u) = 3&3 211.2 + 1. (a)...

Q:

The Cobb-Douglas production function for a particular product is N(x,y) = 60x y , where x is the number of units of labor and y is the number of units of capital required to produce N(x, y) units of...

Q:

. Consider the following duopoly. Demand is given by P = 10-Q, where Q = Q + Q, The firm's cost functions are : C,(Q) - 4 + 2Q, and C(Q) = 3 + 3Q, (a) Suppose both firms have entered the industry....

Q:

From the information provided in the scenario about X-Max Systems, you are required to: 1. Recommend 4 management actions that will be required in order for X-Max Systems to grow its revenue streams....

Q:

Question 4 ( 1 point ) The spot exchange rate of Canadian dollars ( C$ ) for 1 USD is quoted as $ 0 . 7 2 USD / C$ . What is the quote in terms of the Canadian dollar? 1 . 1 8 C $ U S D 1 . 3 9 C $ U...

Q:

14. For the EEG data, compare the two groups with the method in Section 6.10.

Q:

Simco Inc. is a manufacturer that purchased a new piece of equipment designed to reduce costs. After several months of operation, the results were quite unsatisfactory. The operations manager...

Q:

Obesity among children in North America is said to be at near-epidemic proportions. Some experts blame television for the problem, citing the statistic that children watch an average of 26 hours per...

Q:

Ever since the discovery of germs, parents have been telling their children to wash their hands. Common sense tells us that this should help minimize the spread of infectious diseases and lead to...

Q:

Please do the medium and the LARGE SPEED BUMP! and show formulas so i know how to do it % E11-36B (similar to) Last month, Bramble Corporation purchased and used the same quantity of material in...

Q:

Prompts Encounters Expenditure budget Variance analysis Question 1 4 Answers Select match the periodic review of actual expenditures against the approved budget to determine compliance. places the...

Q:

Why is it so important for companies to have accurate financial forecasts? List and discuss some of the impacts inaccurate forecasts have to the company.