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

Agriculture, project on visit to village for agriculturebased project

project on visit to village for agriculturebased project

How can create more accurate measurements of development, Why and how are e...

Why and how are economists attempting to create more accurate measurements of development? The why part is simply because of the complexities built-in to the concept of develop

Equilibruim, I want to know all about equilibruim consumer equilibruim firm...

I want to know all about equilibruim consumer equilibruim firms equilibruim nd market equilibruim technically also??

Primary inputs, Normal 0 false false false EN-IN X-NO...

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

Calculate the mean, You are interested in the outcomes of the children in y...

You are interested in the outcomes of the children in your workload in general functioning and school performance, and whether they are related. As a result you decide to collect s

Recent development in demand analysis, RECENT DEVELOPMENT IN DEMAND ANALYSI...

RECENT DEVELOPMENT IN DEMAND ANALYSIS: For many years economic theorists analysed the optimal behaviour of consumers while econometricians estimated consumer demand and expend

Mercantilism, Mercantilism:It is an economic theory from pre-capitalist tim...

Mercantilism:It is an economic theory from pre-capitalist times which held that a country's prosperity depended on its ability to produce large and persistent surpluses in its fore

Why government cannot print new currency to pay the debts, Why government c...

Why government cannot print new currency to pay the debts?  When there is deficiency of internal resources then government borrow. Government can borrow either from central ban

What caused the end of malthusian age, So what caused the end of Malthusian...

So what caused the end of Malthusian age? How did humanity escape from the trap in that invention and ingenuity increased the numbers though not the material well-being of humanity

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