Diminishing technical rate of substitution

Assignment Help Business Management
Reference no: EM131246418

Suppose that the production function is f(x1,x2) = (xa1 +xa2)^b, where a and b are positive constants. For what values of a and b is there a diminishing technical rate of substitution?

Reference no: EM131246418

Questions Cloud

Presenting the economic aspects of pricing : CASE FORMAT describing American Airlines company and presenting the economic aspects of pricing. Cover ideas and insights about the case. This assignment must cover American Airlines and focus on competition as covered Pricing Strategies for Firms..
How poverty is of personal relevance and publicly important : How has the sociological theory and/or research enhanced or deepened your understanding of poverty? In your response please identify, discuss and apply specific sociological theories and research methods that have led to your increased understandi..
Case study: the democrat and the dictator : Case Study: The Democrat and The Dictator. Franklin Roosevelt and Adolph Hitler both came to power in 1933.  They found themselves in charge of nations still suffering from the consequences of World War 1 and the Great Depression
Role of phytochemical supplements in prevention of diseases : Discuss, from the mechanistic, evidence-based, and public health policy points of view, the possible role of phytochemical supplements in prevention of chronic diseases (e.g., cancer, obesity, diabetes, Alzheimer's disease, etc.).
Diminishing technical rate of substitution : Suppose that the production function is f(x1,x2) = (xa1 +xa2)^b, where a and b are positive constants. For what values of a and b is there a diminishing technical rate of substitution?
What is expected value of the lottery and expected utility : Jenny's utility function is: U = √X (square route of x). She is faced with a lottery where she has a 50 percent chance of winning $121 and a 50 percent chance of winning $225. What is the expected value of the lottery? What is Jenny's expected utilit..
How many friends went to see the play with rose : Tickets to King Middle School play cost $1 for King students and $3 for everyone else. Rose, a student at King Middle School, went to the play with friends from another school. the group paid a total of $13 for the tickets. How many friends went t..
Determining the production functions : For each of the following production functions show whether it exhibits constant returns to scale. In each case y is output and K and L are inputs:
Prove that s is normal : Let G be a perfect graph with vertex set X = {x1,...,xn} and let S be the subring generated by all xat such that supp(xa) is a clique of G. Prove that S is normal

Reviews

Write a Review

Business Management Questions & Answers

  Develop a list of the departmental forms found in record

Explain how the use of a speech recognition software program allows the data to be stored and retrieved, and how this relates to a Clinical Information System.

  Reproduce on how much this experience would stretch

Reproduce on how much this experience would stretch other ethnicity comfort zone as well as how this observation might affect others intercultural communication.

  Explaining tokenism or aversive forms of racism

Why might tokenism or aversive forms of racism be as dangerous as symbolic racism? What are the differences between prejudice and racism? Why is the distinction between prejudice and racism important?

  Equality in america

The authors of this week's essay argue whether or not America is becoming more equal. But the assumption underlying this argument is that equality is a good thing. And, of course, based upon Thomas Jefferson's statement that "We hold these truths ..

  Question related to training costs

What are the potential costs to this lack or training and What type of training would you recommend: OJT, classroom, or a combination

  Illustrate what is the difference ytm and its ytc

Assume which the yield curve is horizontal, with rates expected to remain at current levels on into the future. Illustrate what is the difference among the bond's YTM and its YTC?

  Supply chain presentation on intel

Prepare the following details about the assigned firm (INTEL, INC.) on the following with >30 PowerPoint slides:

  Training of staff-identify three initiatives that we as

training of staff-identify three initiatives that we as managersleader could implement to promote the asking of

  Discuss the characteristics of different types of mergers

Discuss the characteristics of different types of mergers that might lead to better operational decisions using one approach or the other.

  Discuss the link between strategy and training

Develop and discuss the link between strategy and training and development in the organization.

  What are basic approaches to negotiations

Approaches to negotiations - What are three basic approaches to negotiations? Give an example based on your personal or professional experience.

  Knowledge to better construct work systems

Organizational learning - Explain how should managers utilise organisational learning and knowledge to better construct work systems?

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