Marginal product of every of the two inputs, Microeconomics

(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?

 

Posted Date: 3/29/2013 2:06:20 AM | Location : United States







Related Discussions:- Marginal product of every of the two inputs, Assignment Help, Ask Question on Marginal product of every of the two inputs, Get Answer, Expert's Help, Marginal product of every of the two inputs Discussions

Write discussion on Marginal product of every of the two inputs
Your posts are moderated
Related Questions
Hydrogen, Alkali and Alkaline earth metals Lithium atom and ion are very small and are comparable in sizes to those of Mg. Their polarizing power (charge / radius) are almost t

GOVERNMENT FINANCE: UNION  AND STATES: The fiscal position of the Governments - both Centre and States - has been under stress since the mid-1980s. The stress stems from the i


I wanted to the fixed and variable costs of breadtalk in singapore from economic perspective

#questDuring the 1990s, technological advance reduced the cost of computer chips. Explain, with the use of supply and demand diagrams, how the following markets are affected in ter


Uses and Habit Forming Commodity -price elasticity of demand: The number of possible uses : A commodity has high price elasticity of demand (or elastic demand) if it can be p

what is budget line?show the shift in the budget line

williomson''s model of managerial discretion

Financial Economies: These are benefits obtained by large firms as a result of contracting credit from financial institutions at lower interest rates than smaller firms. The