FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Assume a firm has 2 inpuls in its producton function, labor and caputal, and can adjust the amodint of either one of these inputs in

image text in transcribed
Assume a firm has 2 inpuls in its producton function, labor and caputal, and can adjust the amodint of either one of these inputs in order fo increaise output. If the firm increases laber by 10 and output rises by 8 \$, can wo say anything about the firm's returns to seale? Why or why not

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Core Concepts Of Information Technology Auditing

Core Concepts Of Information Technology Auditing

Authors: James E Hunton, Stephanie M Bryant, Nancy A Bagranoff

1st Edition

0471222933, 9780471222934

More Books

Students also viewed these Accounting questions

Question

★★★★★
Graphically illustrate the break-even volume for the Evergreen Fertilizer Company determined in Problem 4.

Answered: 1 week ago

Question

★★★★★
Delete statements in PL / SQL are more complicated than Delete statements in SQL . Group of answer choices True False

Answered: 1 week ago

Question

★★★★★
Fumonisins are environmental toxins produced by a type of mold and have been found in corn and in products made from raw corn. The Center for Food Safety and Applied Nutrition provided...

Answered: 1 week ago

Question

★★★★★
Saul Cervantes has just purchased some equipment for his landscaping business. For this equipment he must pay the following amounts at the end of each of the next five years: $10,450, $8,500, $9,675,...

Answered: 1 week ago

Question

★★★★★
Which income is taxable and which is deductible under sections 63 and 62 respectivly? Wifes LLC incurred the following expenses in the catering business: (a) $30,000 cost of food sold during 2019;...

Answered: 1 week ago

Question

★★★★★
4. (25 Points) Find the equation for the following hyperbola given the following conditions Vertices at (1, -3) and (1, 1); Asymptote at y + 1= (x - 1)

Answered: 1 week ago

Question

★★★★★
Patel and Sons Incorporated uses a standard cost system to apply factory overhead costs to units produced. Practical capacity for the plant is defined as 50,000 machine hours per year, which...

Answered: 1 week ago

Question

★★★★★
You are designing a wireless multihop network that can tolerate 5% packet loss, meaning that 95% of the packets must be delivered to the destination. i) Would you recommend using TCP or UDP at the...

Answered: 1 week ago

Question

★★★★★
On August 31, 2018, a fire destroyed totally the rented "bodega" or stockroom of the Company. The following are some of the data of the company: Merchandise inventory, December 31, 2017 P110,000 For...

Answered: 1 week ago

Question

★★★★★
If an instance of ANE happens for a client, direct service providers should do the following: Record TV shows that were going to be watched for later viewing Report knowledge or suspicion of ANE to...

Answered: 1 week ago

Question

★★★★★
Learning Source, Inc. has two divisions: Test Preparation and Language Arts. Results (in millions) for the past three years are partially displayed here: (Click the icon to view the results.)...

Answered: 1 week ago

Question

★★★★★
Know the process by which employees can attempt to decertify an existing bargaining unit

Answered: 1 week ago

Question

★★★★★
Be able to identify the visible signs of union organization activities

Answered: 1 week ago

Question

★★★★★
Be able to advise a department manager when interacting with a union on a day-to-day basis

Answered: 1 week ago

Previous Question Next Question