Question: PLEASE help in these two questions as soon as possible please helpp QUESTION- Consider the markets for DVDs, TV and tickets at movie theaters .

PLEASE help in these two questions as soon as possible please helpp

QUESTION-

  1. Consider the markets for DVDs, TV and tickets at movie theaters .

a. For each pair, identify whether they are complementary or substitutes: i. DVDs and TV ii. DVDs and Movie tickets iii. TV and movie tickets

b. Suppose a technological advance reduces the cost of manufacturing TV screens. Draw a diagram to show what happens in the TV market.

2. Of the following production functions, which exhibit increasing, constant or decreasing returns to scale. Explain. a. Q = AL0.6K 0.2

b. Q = ALQ

c. Q = A L0.4K 0.6

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