Find the marginal rate of techincal substitutio

Assignment Help Business Economics
Reference no: EM131095932

Find the marginal rate of techincal substitution and discuss how MRTSlk changes as the firm uses more L, holding output consta

a. Q(K,L)=2K+3L

b. Q(K,L)=K^0.5L^0.25

c. Q(K,L)=LK+L

Reference no: EM131095932

Questions Cloud

Foreign exchange market is assumed to be efficient : Discuss fully by appealing to theory and using examples, why a no-arbitrage condition is expected to hold for transactions involving exchange rates both spatially and inter-temporally if the foreign exchange market is assumed to be efficient
Internal corporate memorandum : Marriott Hotel write an internal corporate memorandum (business memo) to the General Managers of the individual hotels in the company (or Hotel Managers You should inform them in a convincing way that all units company-wide and world-wide are to star..
Individual retirement accounts : Individual Retirement Accounts (IRAs) allow people to shelter some of their income from taxation. Suppose the maximum annual contribution to such accounts is $5,000 per person. Now suppose there is a decrease in the maximum contribution, from $5,000 ..
Manufactures widgets according to the production function : A firm manufactures widgets according to the production function Q = 8L3/4 K1/4, where Q is the number of skis made, K is the amount of capital, and L is the amount of labor employed. The firm is currently producing Q = 120 using L = 15 and K = 15. S..
Find the marginal rate of techincal substitutio : Find the marginal rate of techincal substitution and discuss how MRTSlk changes as the firm uses more L, holding output consta
War of every man against every other man : Kant asserts that human life is best understood as a "war of every man against every other man." This means all people want to have whatever they deem appropriate to a comfortable life for themselves.
Counteracting fiscal or monetary policy : Explain and show graphically using AD-AS diagrams how each of the following would (separately) affect the economy first in the short run and then in the long run. Assume that Canada is initially operating at its full-employment level of output, that ..
The economy is operating at full employment : Zoltan Novak, and Paul smith both residents of the country of EAST Paragon are discussing whether the economy is operating at full employment. Zoltan, a market analyst argues that with unemployment at 5.3%, the economy cannot possibly be fully utiliz..
The firm short run production function : Suppose a competitive firm can sell its output for $7 per unit. The following table gives the firm's short run production function. Labor Output 0 0 1 15 2 40 3 70 4 86 5 94 6 98 In the table below, you will determine several points on the firm's dem..

Reviews

Write a Review

Business Economics Questions & Answers

  What created the suspicion of collusion

In July, the Department of Justice opened an investigation related to possible collusion and price fixing. What created the suspicion of collusion? Also research this case and share some details. What is currently happening? The Airline industry is n..

  Determine the equilibrium price-quantity per firm

Each of the 10 firms in a competitive market has a cost function of c=25+q^2. The market demand function is q=120-p. Determine the equilibrium price, quantity per firm and market quantity.

  The fed can reduce the money supply by

The Fed can reduce the money supply by,

  What are the three determinants of macro performance

which of the 3 determinants of macro performance (internal market forces, external shocks, and policy levers) would you consider the most important in terms of gauging the success/failure.

  Quantity demanded of cake

the quantity demanded of Cake is 100 slices and the quantity demanded of cheese bread is 100 pieces.

  Motorist pay for fuel-efficient six speed transmission

New six speed automatic transmission for automobiles offers an estimated 4% improvement in fuel economy compared to the traditional four-speed transmissions in front wheel drive cars. If a four-speed transmission car averages 30 miles per gallon and ..

  Venture capital firms are pools of private capital

Venture capital (VC) firms are pools of private capital that typically invest in small, fast-growing companies, which usually can’t raise funds through other means. Describe the nature of the incentive conflict between VCs and the managers, identifyi..

  Qyou are the ceo of a fortune 500 company you have two

q.you are the ceo of a fortune 500 company. you have two objectives1. invest 5 million cash on hand short term

  What you expect to happen to costs within banking industry

If Congress took steps to consolidate banks, thereby reducing total number to 2500, what would you expect to happen to costs within banking industry.

  What are the firms profits

Consider the market for carbonated water and suppose that demand is given by D(p) = 100 – 5p There are only two firms producing carbonated water, each with the same constant unit cost c = 2. What are the equilibrium prices and quantities if the firms..

  Productivity in completing coursework be measured

How would your productivity in completing coursework be measured? Has your productivity changed since you began college? What caused the productivity changes? How could you increase productivity further?

  Assumed that brian will spend at least four hours per week

Notice it is assumed that Brian will spend at least 4 hours per week studying each of the 3 courses.

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