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Home Q & A Board Other Fields Homework Help Business Economics
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PaulKet PaulKet
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Posts: 488
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6 years ago
Suppose the production of VCRs can be represented by the following production function:
q = L0.4 K0.4. Which of the following statements is (are) TRUE?
A) The production function has decreasing returns to scale.
B) The marginal productivity of labor falls as labor increases in the short run.
C) Capital and labor can be substituted for one another.
D) All of the above.
Textbook 
Microeconomics: Theory and Applications with Calculus

Microeconomics: Theory and Applications with Calculus


Edition: 4th
Author:
Read 104 times
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The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.
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unExpectedunExpected
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6 years ago
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PaulKet Author
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#2
6 years ago
Smiling Face with Open Mouth Yay, got perfect on my quiz
The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.
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