Category: business-economics

Order the answer to: To produce a recorded CD, q = 1, a firm

business-economics

Order the answer to: To produce a recorded CD, q = 1, a firm

Posted By George smith

Question
To produce a recorded CD, q = 1, a firm uses one blank disc, D = 1, and the services of a recording machine, M = 1, for one hour. Draw an isoquant for this production process. Explain the reason for its

Read More
Order the answer to: Suppose that a firm has a fixed-proportions production function in

business-economics

Order the answer to: Suppose that a firm has a fixed-proportions production function in

Posted By George smith

Question
Suppose that a firm has a fixed-proportions production function in which 1 unit of output is produced using one worker and 2 units of capital. If the firm has an extra worker and no more capital, it still can produce only 1

Read More
Order the answer to: Why must isoquants be thin?

business-economics

Order the answer to: Why must isoquants be thin?

Posted By George smith

Question
Why must isoquants be thin?

Subject
business-economics

Read More
Order the answer to: What is the elasticity of substitution, ?, of the CES

business-economics

Order the answer to: What is the elasticity of substitution, ?, of the CES

Posted By George smith

Question
What is the elasticity of substitution, ?, of the CES production function q = (aL( + bK()d/(?

Subject
business-economics

Read More
Order the answer to: What is the MRTS of the CES production function q

business-economics

Order the answer to: What is the MRTS of the CES production function q

Posted By George smith

Question
What is the MRTS of the CES production function q = (aL( + bK()d/(?

Subject
business-economics

Read More
Order the answer to: Show that the CES production function q = (aL( +

business-economics

Order the answer to: Show that the CES production function q = (aL( +

Posted By George smith

Question
Show that the CES production function q = (aL( + bK()1/( can be written as q = B(()[cL(+ (1 – c) × K(]1/(?

Subject
business-economics

Read More
Order the answer to: By studying, Will can produce a higher grade, GW, on

business-economics

Order the answer to: By studying, Will can produce a higher grade, GW, on

Posted By George smith

Question
By studying, Will can produce a higher grade, GW, on an upcoming economics exam. His production function depends on the number of hours he studies marginal analysis problems, A, and the number of hours he studies supply and demand problems, R. Specifically,

Read More
Order the answer to: Michelle’s business produces ceramic cups using labor, clay, and a

business-economics

Order the answer to: Michelle’s business produces ceramic cups using labor, clay, and a

Posted By George smith

Question
Michelle’s business produces ceramic cups using labor, clay, and a kiln. She can manufacture 25 cups a day with one worker and 35 cups with two workers. Does her production process illustrate diminishing returns to scale or diminishing marginal returns to scale?

Read More
Order the answer to: Draw a circle in a diagram with labor services on

business-economics

Order the answer to: Draw a circle in a diagram with labor services on

Posted By George smith

Question
Draw a circle in a diagram with labor services on one axis and capital services on the other. This circle represents all the combinations of labor and capital that produce 100 units of output. Now, draw the isoquant for 100 units of

Read More
Order the answer to: Alfred’s Print Shop can use any one of three fixed

business-economics

Order the answer to: Alfred’s Print Shop can use any one of three fixed

Posted By George smith

Question
Alfred’s Print Shop can use any one of three fixed proportion technologies. Each involves one printer and one worker. Describe the possible shapes of the firm’s isoquant?

Subject
business-economics

Read More