Question: 9. Consider the production function Y = AIRK 31.5 9. Consider the production function Y = A1/ 2K l/ 31.5/9 and recall the definitions of

9. Consider the production function Y = AIRK \"31.5\

9. Consider the production function Y = A1/ 2K l/ 31.5/9 and recall the definitions of "objects" and "ideas" form chapter 6. Which of the following statements is correct? a. b. c. d. The production function exhibits increasing marginal returns with respect to capital. The production function exhibits decreasing returns to scale with respect to ideas. The production function exhibits IRS with respect to objects and ideas jointly. Both b. and c. are correct.

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!

1 2.3 Definition of a Discrete Probability Function Definition: Let S be a discrete sample space from some experiment. A function P, defined on all events in S, is said to be a probability function...

QUIZ... Let D be a poset and let f : D D be a monotone function. (i) Give the definition of the least pre-fixed point, fix (f), of f. Show that fix (f) is a fixed point of f. [5 marks] (ii) Show that...

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...

For monotone functions f, f0: P Q between posets (P, vP ) and (Q, vQ), let f v f(i) Prove that the binary relation v is a partial order. [3 marks] (ii) For monotone functions between posets p : P 0...

In a Hopfield neural network configured as an associative memory, with all of its weights trained and fixed, what three possible behaviours may occur over time in configuration space as the net...

So you want to be and Interpreter? An Introduction to Sign Language Interpreting. Class Participation/Canvas (Collaborative Discussions) What were the key points gleaned from the reading? Describe...

123 Compare the purely graphical properties of these two notations, and the ways in which the graphical properties of each display correspond to the information structure being defined. Describe...

uantitative Analysis BA 452 Homework 3 Questions Homework 3 covers the theory and applications in Lessons I-6 and I-7. This document has four parts: Objectives of doing your homework. Assignment of...

Hi, Please help me with responding to the discussion questions below because I'm having a hard time answering them myself. I have been up all night, and I'm unable to figure them out. I uploaded a...

SUMMARY this article for about 2 pages with single spacing. Thank you. ECONOMETRICS: MEASUREMENT I N ECONOMICS1 I As the first incumbent of a new Chair in this University, I thought that in this...

T, who never married nor made any prior inter vivos gifts, made taxable gifts for $6 million in 2013. T dies in the current year, leaving a taxable estate of $5 million. In 2002, G created a trust,...

A Treasury bond reaches maturity in 9 months. Assume that the Treasury bond has a coupon of 3% and the current price of the bond is $99,500. a. Estimate the bonds yield to maturity (based on...

2.63 Create a dotplot that has at least 10 observations and is rightskewed.

Which of the following factors is most likely to affect the learning experience positively? matching learning environment to the goals of the educator matching learning environment to each learner's...

Behaviour: What am I doing?

5. Imagine a situation where you were really annoyed by someone elses behaviour. Try to find the positive intention behind the behaviour.

3. Imagine a communication situation at work or at home where you felt that you were locked (inflexible). Reflect on three alternative strategies that could have led to you becoming more flexible,...