Production function with constant returns to scale

Assignment Help Business Economics
Reference no: EM131167533

In a Cobb-Douglas production function with constant returns to scale, if the share of income that goes to labor is 42%, what does alpha equal? Enter your number in decimal form as opposed to percentage form, rounded to two decimal places - use only numbers, a decimal point, and/or a negative sign as needed.

Reference no: EM131167533

Questions Cloud

What conditions will such a policy be welfare enhancing : Suppose that the government maintains the monopoly position of industry leaders by precluding research by outsiders. Under what conditions will such a policy be welfare enhancing?
Sampling distribution of sample mean is normally distributed : Under what conditions, if any, is it not correct to assume that the sampling distribution of the sample mean is approximately normally distributed?
Provide an opinion on at least three distinct issues : Describe your view of Andrew Jackson. Provide an opinion on at least three distinct issues that took place during his administrations (1829-1837).
Cognitive dissonance about a purchase : Recall an occasion when you experienced cognitive dissonance about a purchase. Describe the event, and explain what you did about it.
Production function with constant returns to scale : In a Cobb-Douglas production function with constant returns to scale, if the share of income that goes to labor is 42%, what does alpha equal? Enter your number in decimal form as opposed to percentage form, rounded to two decimal places - use only n..
Describe treatment mechanisms for each condition : Describe the compensatory mechanism for each condition in detail; include whether the kidneys or lungs assist. Describe treatment mechanisms for each condition when the regular compensatory mechanisms are not working well
School clothes and supplies for five children : Go to http://www.taxadmin.org/fta/rate/. It's August and you need to buy school clothes and supplies for your five children. You live in the northwestern corner of Connecticut, within easy driving distance of both Massachusetts and New York State...
Diffusion theories with those from the ramsey model : Contrast the results on convergence from the diffusion theories with those from the Ramsey model. Is it feasible to distinguish the theories empirically? If so how?
Marginal product of labor equals : A firm is producing optimally (maximizing profits) when the price level = $1. It pays a wage rate of $10 per hour to labor and rents capital for $8 per hour. It sells its product for $20 per unit. At its current production point we can assume that it..

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

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