Explain whether technology used demonstrate constant returns

Reference no: EM13238576

Based on the information below about the production structure, explain whether the technology used demonstrates constant returns to scale (CRS) or increasing returns to scale (IRS) property.
a. The labor cost of production of Q units of a good is given by C(Q) = 70Q

Reference no: EM13238576

Questions Cloud

Explain reduce the concentration of pbcl2 : How many milliliters of 0.10 M HCl would have to be added to 100 mL of a saturated solution of PbCl2 in contact with 50.0 g of solid PbCl2 to reduce the Pb2+ concentration to 0.0050 M? (Don't forget to take into account the combined volumes of the..

Find what is the interest rate for buying versus leasing : A bulldozer can be purchased for $380,000 and used for 6 years, when its salvage value is 15% of the first cost. Alternatively, it can be leased for $60,000 a year. Remember that lease payments occur at the start of the year.

What is the demand schedule for belgium cocoa beans : Suppose that Belgium cocoa beans can be sold in the U.S. The U.S. demand schedule for Belgium cocoa beans is as follows: Price of Belgium cocoa beans (per pound) Quantity of Belgium cocoa beans demanded (pounds)

What is the labor cost of production of q units of a good : Based on the information below about the production structure, explain whether the technology used in each part demonstrates constant returns to scale (CRS) or increasing returns to scale (IRS) property.

Explain whether technology used demonstrate constant returns : Based on the information below about the production structure, explain whether the technology used demonstrates constant returns to scale (CRS) or increasing returns to scale (IRS) property. The labor cost of production of Q units of a good is give..

What is the ratio of electric force on bee to bees weigh : A 0.15g honeybee acquires a charge of 22pCwhile flying. The electric field near the surface of the earth is typically 100N/C, What is the ratio of the electric force on the bee to the bee's weight

What is the level of consumer expenditures in equilibrium : a) If P= 10, what is the value of Co What is the equilibrium of GDP What is the level of consumer expenditures in equilibrium b) Leaving P as a variable, solve for equilibrium Y as a function of the price level

What is the interest rate you would pay by financing : laboratory equipment sells for $75,000. The manufacturer offices financing at 8% with annual payments for the 4 years for the $50,000 of the cost. The salesman is willing to cut the price by 10% if you pay cash.

Does a movie or book have a higher fixed cost of production : Frequent moviegoers often note that movies are rarely based on original ideas. Most of them are based on a television series, a video game, or, most commonly, a book. Why a. Does a movie or a book have a higher fixed cost of production

User Account

All Pages