Determine the returns to scale, Microeconomics

Assignment Help:

Determine the Returns to Scale

Use the following production function and budget constraint to answer the questions below.

Q = L + K                           

1000 = 2L + 4K

a. Determine the returns to scale property of the production function.
b. Determine the returns property to each factor.
c. Determine the optimal quantities of labor and capital
d. Determine the maximum quantity that can be produced.
e. Determine the production relationship between labor and capital.


Related Discussions:- Determine the returns to scale

(Bcg) matrix, Analysis of business portfolio by using Boston Consultant Gro...

Analysis of business portfolio by using Boston Consultant Group (BCG) Matrix.

Is lm model, why slopes of is and lm curves affect effectivness of fiscal a...

why slopes of is and lm curves affect effectivness of fiscal and mnetary policy?

What are the two main forms of economic distribution, What are the two main...

What are the two main forms of economic distribution? What is the difference between them?   The two major forms of economic distribution are exchange and transfer. Exchange in

Easy, what are the factors influencing supply

what are the factors influencing supply

Quality control - export strategy, Quality Control: Standards and sta...

Quality Control: Standards and standardisation, quality systems, certification and inspections, measurement systems, testing laboratories, their accreditation and calibration

Help PLease, In an essay of at least four well-developed paragraphs, discus...

In an essay of at least four well-developed paragraphs, discuss U.S. economic policy. Be sure to include the following information in your essay: Compare and contrast the economi

What is an optimization in the methods of mathematics, What is an optimizat...

What is an optimization in the methods of mathematics of modern economics? Optimization is a basic tool for the development of modern microeconomics analysis. Many of economic

Write Your Message!

Captcha
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