--%>

Production function

Describe three properties of a variable proportions production function that make sure that it allow profit maximization and cost minimization.

   Related Questions in Microeconomics

  • Q : Price of a Long-Term Bond When the

    When the interest rate falls, in that case the price of a long-term bond: (w) falls faster than a perpetuity bond. (x) rises. (y) does not change. (z) falls relatively less than a short term bond. I need a good ans

  • Q : Vietnam divided into two different

    Why Vietnam divided into two different nations?

  • Q : Consumer behaviour Graphical

    Graphical representation of relationship between MPC and multiplier?

  • Q : Best society according to Utilitarianism

    Utilitarianism states that the best society is one which gives the: (1) Essential goods to meet people’s requirements. (2) Biggest happiness for the greatest number of people. (3) Precise measurement of disutility and utility. (4) Highest guaran

  • Q : Law of Distribution by Pareto “ Law of

    “Law of Distribution” given by Vilfredo Pareto asserts that the: (w) relative prices for goods reflect how intensively labor is used as an input. (x) the percentages of national income going to labor and to capital is a co

  • Q : Internet connection system in Short Run

    The resource most probable to be viewed as the fixed in short run by a firm which operates a cable TV and Internet connection system would be: (1) Unskilled workers who bury the cable. (2) The personal computer (3) Satellite dishes that it has leased to the customers.

  • Q : Margin requirements for deflationary gap

    Elucidate the role of margin requirements for correcting deflationary gap.

  • Q : Reducing proportion of the work force

    The assertion which unions are more powerful nowadays than ever before is: (i) Supported by the consequences of the union contracts on an inflationary spirals. (ii) Reflected in the growing proportion of workers included in violent, protracted and costly strikes. (iii

  • Q : Elasticity of demand changes with price

    Calculating the price elasticity of demand for DVD games for a price variation from $50 to zero in such demand curve is: (w) 0. (x) infinity. (y) mostly meaningless since elasticity changes continuously over such range. (z) 1.5.

    Q : Monopsonistic exploitation of many

    NCAA rules the forbidding standard employment negotiations among colleges and amateur athletes tend to outcome in: (i) Monopsonistic exploitation of numerous athletes. (ii) Incentives for the collusion among individual college coaches and individual owners of the prof