Determine the returns to scale, Microeconomics

Determine the Returns to Scale

Use the following production function and budget constraint to answer the questions below.

Q = L + K                           

1000 = 2L + 4K

a. Determine the returns to scale property of the production function.
b. Determine the returns property to each factor.
c. Determine the optimal quantities of labor and capital
d. Determine the maximum quantity that can be produced.
e. Determine the production relationship between labor and capital.

Posted Date: 2/15/2013 2:46:16 AM | Location : United States







Related Discussions:- Determine the returns to scale, Assignment Help, Ask Question on Determine the returns to scale, Get Answer, Expert's Help, Determine the returns to scale Discussions

Write discussion on Determine the returns to scale
Your posts are moderated
Related Questions
what are the recommendations for effective economic planning?

compare traditional modern and engineering cost curves


What is hyper inflation? How it can be reduced?   Hyper inflation means that prices of the consumable goods are very high. Prices can be decreased by supplying more goods in th

MRP systems - basic inputs  It has been estimated that in the USA where MRP was originated and developed by Oliver Wight and George Plossl (1985), virtually all Fortune 500 ma

HOW DO YOU ADJUST FISCAL POLICY FOR INTERNAL BALANCE

Weston Industrial Manufacturing Products ("WIMP") has the capability to produce a variety of industrial products, including a number of types of widgets. In the past, WIMP has manu

illustrate graphically the influence of an increase in immigrants on the market supply of labour

why risk averse consumers pay premium for insurance to convert an uncertain outcome to a certain one?

MRP Technique- Sectoral Distribution of Targeted Increase in GDP There are two ways of increasing the GDP: (i) Project and accomplish the growth in various sectors through