--%>
Assignment Help - homework help

What are the certain assumptions in production functions

What are the certain assumptions in production functions?

E

Expert

Verified

The production functions are based upon exact assumption as follows:

a. Ideal divisibility of inputs and output both;

b. Restricted substitution of one factor for the others and

c. Constant technology; and

d. Inelastic supply of fixed factors within the short run.

   Related Questions in Managerial Economics

  • Q : What are differences between

    What are the differences between differential cost and explicit cost?

    		•
  • Q : Competitive demand of employer A

    A competitive demand of employer for labor is: (1) derived from the demand that exists for the firm’s output. (2) inverted compared to regular demands. (3) shifted rightward by hikes in real wage rates. (4) positively sloped. (4) determined thro

    		•
  • Q : Supply of certain types of labor The

    The supply of certain types of labor is determined through the: (w) skills of potential workers. (x) the availability of other workers. (y) the prices of output. (z) production technology. I need a good answer on the topic of

  • Q : Explain the steps for demand estimation

    Explain the steps for demand estimation.

    		•
  • Q : Derived Demands for Resources Demands

    Demands for resources are derived since they: (1) depend upon producers supplies of such resources. (2) depend on consumers demands for the goods the resources produce. (3) rely on the availability of suppliers. (4) rely on the industry’s demand

    		•
  • Q : Illustrates the barometric pricing

    Illustrates the barometric pricing briefly?

    		•
  • Q : Techniques of economic forecasting

    Illustrates the techniques of economic forecasting in briefly?

    		•
  • Q : Price and output decisions in

    Illustrates the price and output decisions in Monopolistic Competition?

    		•
  • Q : Wage payments by total production cost

    Wage payments like a proportion of total production cost are positively associated to the: (1) ease of substitution between capital and labor. (2) wage elasticity of demand for labor. (3) extent of automation in the industry. (4) human capital created

    		•
  • Q : Determine the demand of auto-market

    Suppose that the auto market began at the intersection of S0 and D0 before people began to expect auto prices to rise in the close to future. How will it influence the auto market?: (1) No change. (2) Demand shifts to D2. (3) Demand sh

    		•