Question: 1. Is the production function f (x1, X2) = 1 1/2 3/4 20 2 constant returns, increas ing returns, or decreasing returns to scale

1. Is the production function f (x1, X2) = 1 1/2

3/4 20 2 constant returns, increas ing returns, or decreasing returns to

1. Is the production function f (x1, X2) = 1 1/2 3/4 20 2 constant returns, increas ing returns, or decreasing returns to scale

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock 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 Economics Questions!

Q:

ECO 320 - Intermediate Microeconomic Analysis Final Exam August 17, 2016 Lists and Short Answers (20 points total) Please enumerate the following lists. 1. Define the two welfare theorems. 2. List...

Q:

1. Consider the production function f(x1, x2) = x2 1x2 2. Does this exhibit constant, increasing, or decreasing returns to scale? 2. Consider the production function f(x1, x2)=4x 1 2 1 x 1 3 2 . Does...

Q:

PPlease tutors help me 11. (18 Points) Consider a market with two horizontally differentiated firms, X and Y. Each has a constant marginal cost of $20. Demand functions are Qx = 100 - 2Px + Py Qy =...

Q:

Producing jars of "real" maple syrup (q) requires two things: gallons of sugar (x1) and gallons of maple coloring (x2). Big Maple is a monopolist in this market. They turn sugar and maple coloring...

Q:

WERICAL PROBLEM: l ,. A perfectly competitive rm has a production function f (x1, x2) = xlxz, Input prices are given by w1 = 10 andwz = 5. a. Does this production function exhibit decreasing,...

Q:

In your answers, label all intercepts, coordinates, slopes, and axes. The output of a factory is described by the production function f (x1, x2) = 9,3/x1x2 1. Does input 361 exhibit the Law of...

Q:

onsider production function f ( x 1 ; x 2 ) = 3 x 1 + 2 x 2 ( input 1 is labor and input 2 is capital ) . ( a ) Draw isoquant curves. ( b ) Draw marginal product of labor curve by xing capital at x 2...

Q:

A rm has production function f {11,132} = {.r\ A firm has production function f (mi, x.2) = (xf H- where a and b are strictly positive constants. (a) If a 1/2 and b 2, what are the marginal products...

Q:

Problem 1: A firm has the following production function f (x1, x.) = 4x1 + 2VX A) Does this firm's technology exhibit constant, increasing, or decreasing returns to scale? B) What is the firm's...

Q:

Please check my work, and solve problem 3 Problem 1. In less than 25 words, explain the meaning behind the concept of: Marginal cost function measures the change in cost of production when producing...

Q:

Complete the overall reaction catalyzed by the pyruvate dehydrogenase complex. Move the compounds and cofactors to the correct answer blanks. Two terms will not be used. substrate product (from...

Q:

(28) Passes threugh (-2,2) Parelled to the line 22 +5J =3

Q:

a . Maya is 3 0 years old, just started a new job, and is contributing regularly to her retirement account, which she won t touch for at least 3 5 years. Joe is 6 3 , plans to retire in two years,...

Q:

How could we determine EF if there is no percentage given? Which method is easier for determining the SLE: a percentage of value lost or cost per incident?

Q:

Given an unordered sequence S of n comparable elements, describe a lineartime method for finding the [n ] items whose rank in an ordered version of S is closest to that of the median.

Q:

Let B be the language of all palindromes over {0,1} containing equal numbers of 0s and 1s. Show that B is not context free.

Q:

Create a one-paragraph scenario where the fiduciary duty of reasonable care and skill has been violated.

Q:

Margit is paid on a weekly commission basis. She is paid a base salary of $540 on a weekly quota of $8000 and a commission of 4.75% on any sales in excess of the quota. (a) If Margits sales for last...

Q:

Among a group of 5 8 programmers, who know either Java or Python or both, 1 5 only know Java and 1 3 only know Python. What is the probability of randomly choosing a programmer who knows both...

Q:

The visual rule: If we observe an event with our own eyes, we will attach more weight to it than if someone else had described it to us.

Q:

10. What is meant by the fact that we are socialized into using linear causal thought patterns? Find two examples of this from your everyday life.

Q:

The senders expertise; certification, i.e. the senders educational background