Question
39.The production function given by Q = 10(0.7 K 2 + 0.3 L 2 ) 0.5 has _____ returns to scale. decreasing instant increasing constant
39.The production function given by Q = 10(0.7K2 + 0.3L2)0.5 has _____ returns to scale.
decreasing
instant
increasing
constant
40.Suppose the inverse demand for a product produced by a single firm is given by P = 200 - 5Q and that for this firm MC = 20 + 2Q. If the firm has the ability to practice perfect price discrimination, what output level will it choose?
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Principles of Macroeconomics
Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster
12th edition
134078802, 978-0134078809
