subject
Business, 24.03.2020 02:24 BREBRE8932

Consider the production function Q = aLb where b > 1.Take the first differentiontiation of Q with respect to L. \partial Q/\partial L =ab > 0.Hence the Marginal product of labor is positive .Lets check whether there is diminishing return to labor or not. Again take the second order partial derivative with respect to Labor. \partial ^2Q/\partial L^2 =0.This means that there is constant return to labor. thus, this implies that if the labor increases by 10 units then output also increase by 10 units.

ansver
Answers: 1

Another question on Business

question
Business, 21.06.2019 22:10
Arival company manufactures fuel tanks for cars using a different production technique. the total weekly cost (in dollars) of producing x tanks is given by c(x) = 10000 +90x - 0.04x2 find the marginal cost at a production level of 500 fuel tanks per week to approximate the cost of the 501st unit (round to the nearest 2 decimal places, if needed)
Answers: 3
question
Business, 22.06.2019 05:00
Personal financial planning is the process of creating and achieving financial goals? true or false
Answers: 1
question
Business, 22.06.2019 19:00
12. to produce a textured purée, you would use a/an a. food processor. b. wide-mesh sieve. c. immersion blender d. food mill.
Answers: 1
question
Business, 22.06.2019 20:00
If a hotel has 100 rooms, and each room takes 25 minutes to clean, how many housekeepers working 8-hour shifts does the hotel need at 50 percent occupancy?
Answers: 1
You know the right answer?
Consider the production function Q = aLb where b > 1.Take the first differentiontiation of Q with...
Questions
question
Biology, 17.02.2021 22:50
question
SAT, 17.02.2021 22:50
question
Social Studies, 17.02.2021 22:50
Questions on the website: 13722362