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PLEASE help in these two questions as soon as possible please helpp QUESTION- Consider the markets for DVDs, TV and tickets at movie theaters .
PLEASE help in these two questions as soon as possible please helpp
QUESTION-
- Consider the markets for DVDs, TV and tickets at movie theaters .
a. For each pair, identify whether they are complementary or substitutes: i. DVDs and TV ii. DVDs and Movie tickets iii. TV and movie tickets
b. Suppose a technological advance reduces the cost of manufacturing TV screens. Draw a diagram to show what happens in the TV market.
2. Of the following production functions, which exhibit increasing, constant or decreasing returns to scale. Explain. a. Q = AL0.6K 0.2
b. Q = ALQ
c. Q = A L0.4K 0.6
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