Illustrate what is the mrts

Assignment Help Business Economics
Reference no: EM1360694

Online production function is lnQ = 7.73 + 0.75lnK + lnL

a) Convert the production function into its normal form.

b) What is the MRTS, if price of labour is $120 and the price of capital is $200?




Reference no: EM1360694

Direct impact test the apportionment test the balancing test

If a state passes a law requiring long haul truckers to use a type of tire not required in other states, a court will apply what test in reviewing whether that requirement wil

The european coal and steal community-double majority

The European Coal and Steal Community (ECSC) is always discussed as the beginning of the rule of law in Europe. What is exactly meant by that expression? Please discuss the pr

Find the firms short run marginal cost-firm total fixed cost

The Short Run Total Cost of a firm is given by C= 190 + 53 Q. Find out the firm's total fixed cost. Find out the firm's total variable cost. Find out the firm's short run marg

Obstacles that keep organizations

What are the main obstacles that keep organizations from having a well thought-out security policy? How can they be overcome? What are good components of an organizational in

What is the breakeven cost-annual fixed cost

Micro surfacing is part of a pavement restoration and maintenance program that seals the surface of a street that has minor cracking to prevent water from penetrating into the

Two firms that produce sulfur dioxide emissions

Suppose there are two firms that produce sulfur dioxide emissions, Firm A and Firm B. Each firm emits 30 tons of sulfur dioxide per year. The cost of reducing one ton of sulfu

Reduce the natural rate of unemployment in the economy

Suppose the world price of cotton rises. The demand for labor among cotton-producing firms in Texas will (increase or decrease). The demand for labor among textile-producing f

Marketplace price dropped

Elucidate how much profit will it earn at that output rate. If the marketplace price dropped to $10, illustrate what should the firm do.


Write a Review

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd