Different types of production function

Assignment Help Business Economics
Reference no: EM13858896

The following are different types of production function. Determine whether each one has constant, increasing or decreasing returns to scale.

a. Q=20L+20K+50

b. Q=30L²+25K²

c. Q=40L+20K+10LK

d. Q=25L0.4K0.8

e. Q=20L0.3K0.6M0.2

Reference no: EM13858896

Questions Cloud

Has martha identified the best target market for trap-ease : Martha and the Trap-Face America investors believe they face a once-In-a-lifetime opportunity. What information do they need to evaluate this opportunity? How do you think the group would write its mission statement? How would you write it?
About the stock returns and retirement account : Stock returns and your retirement account: Suppose your retirement account has a balance today of $25000 and you are 20 years old. If you are invested in a diversified portfolio of stocks, you might hope that the historical return of about 6% continu..
Company sales budget for the second quarter : Problem 1: Silver Company makes a product that is very popular as a Mother's Day gift. Thus, peak sales occur in May of each year, as shown in the company's sales budget for the second quarter given below:
Simply use the exchange rate to make conversion : How large is economy of India? Indian GDP in 2010 was 78.9 trillion rupees,while U.S GDP was $14.5 trillion. The exchange rate in 2010 was 45.7 rupees per dollar.  What is the ratio of Indian GDP to U.S. GDP if we do not take into account the differe..
Different types of production function : The following are different types of production function. Determine whether each one has constant, increasing or decreasing returns to scale.
What legal and ethical responsibilities does a firm have : Evaluate the reasons cited by O'Brian for relocation. Are they justifiable? What legal and ethical responsibilities does a firm have to its employees when a decision to cease operations is made
Short-run production function-marginal and average product : A restaurant owner has the following short-run production function: Draw a table showing total, marginal and average product up to an input of ten workers, and plot these on a graph. Show the range of labour where stages I, II and III of production o..
Calculate the missing amounts : Here are incomplete financial statements for Riedy, Inc. Calculate the missing amounts.
Show efficiencies and inefficiencies : Draw a PPC with a bow and why it occurred, label all points and X & Y axis, show efficiencies and inefficiencies and describe with examples. Draw a supply and demand curve, label X & Y axis and show equilibrium. Show shortage and surplus and why they..

Reviews

Write a Review

Business Economics Questions & Answers

  Erin now has preferences such that she prefers cash gift

Assume that Erin now has preferences such that she prefers the cash gift. Using a separate graph from part (a), graph Erin's optimal choice before and after gift.

  Long-run impact of an increase in budget deficit

Consider a case of small open economy. In this economy, there is an IT revolution, and as a result the productivity of the economy has gone up. What will be the eject of this productivity increase on interest rate and net export in this economy? What..

  Cost of production for that quantity produced

If the price that a firm charges is higher than its ________________ cost of production for that quantity produced, then the firm will earn profits.

  When the fed buys government bonds

When the Fed buys government bonds,

  Explain the managerial actions

Discuss the difference between them and explain the managerial actions that can influence the firm profitability.

  Interest rates and exchange rates

As we observed in this chapter, central banks, rather than purposefully setting the level of the money supply, usually set a target level for a short-term interest rate by standing ready to lend or borrow whatever money people wish to hold at that in..

  Government action is based on majority rule

Government action is based on majority rule, whereas market action is based on mutual consent. The market allows for proportional representation of minorities, but minorities must yield to the views of the majority when activities are undertaken thro..

  Explain why the general level of incomes is high

Explain why the general level of incomes is high in the united states also other industrially advanced.

  Interstate commerce commission-federal trade commission

Beginning in the early 1900s, the federal government and Congress began the creation of administrative agencies, with the first two being the Interstate Commerce Commission (ICC) and the Federal Trade Commission (FTC). Briefly explain the driving for..

  Semi annual payments needed to accumulate funds

A volunteer fire department anticipates purchasing a fire truck in 3 years. Today it will cost $625,000 but the cost is increasing to 4% per year. Find the semi annual payments needed to accumulate funds to purchase the truck if funds earn 6% compoun..

  Resulted from the change in the reserve requirement

The U.S. money supply (M1) at the beginning of 2000 was $1,148 billion broken down as follows: $523 billion in currency, $8 billion in traveller’s checks, and $616 billion in checking deposits. Suppose the Fed decide to reduce the money supply by inc..

  Manufactures a variety of household products

Parker Products manufactures a variety of household products. The company is considering introducing a new detergent. The company’s CFO has collected the following information about the proposed product. What is the net present value of the proposed ..

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