Marginal product of every of the two inputs, Microeconomics

Assignment Help:

(Cost minimization)

a)  What are the expressions for the marginal product of every of the two inputs in producing credit hours?

b)  What is the expression for the marginal rate of technological substitution of TA's hours for professor's hours? Interpret MRTS in words.

c)  Assume that Profits needs to produce 2000 credit hours this quarter. What is the expression for the respective isoquant? Illustrate this isoquant.

d)  What is the minimum cost combination of inputs needed to produce 2000 credit hours?

 


Related Discussions:- Marginal product of every of the two inputs

Critique of cost-benefit studies, Normal 0 false false fals...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Define the is-lm model and the keynesian model, What are the differences be...

What are the differences between the IS-LM model and the Keynesian model?  The 'simple' Keynesian model is a simplified model to exemplify Keynes's idea about the equilibrium i

PPC help, I don''t understand PPC at all

I don''t understand PPC at all

Delphi techniques, This method is also known as Experts opinion methods of ...

This method is also known as Experts opinion methods of investigation. In this method instead of depending upon the opinion of buyers and salesmen firms can obtain views of the spe

Marris model, explain marris model of the managerial enterprise

explain marris model of the managerial enterprise

Why might an oligopoly be reluctant to change its price, Why might an oligo...

Why might an oligopoly be reluctant to change its price? When some large firms have high total market share and are non-collusive, there is a strong element of interdependency.

Depreciation tax shield, Depreciation T ax Shield The decr...

Depreciation T ax Shield The decrease in corporate income taxes suitable to the deductibility of depreciation from the firm's taxable earnings.  Although depreciat

Applied Microeconomics, EDPE 4056: Applied Microeconomics Program in Econom...

EDPE 4056: Applied Microeconomics Program in Economics and Education Teachers College, Columbia University Prof. Francisco Rivera-Batiz Problem Set 1 Please answer all of the fol

Write Your Message!

Captcha
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