Business, 25.01.2021 21:10, ashley4329

The production function for fish harvesting is Cobb-Douglas. Currently, the Marginal Rate of Technical Substitution (MRTS) between Labor (L) and Capital (K) is higher than the wage to rent ratio (MRTS > w/r). This means that, a. More labor and less capital should be used to lower costs b. More capital and less labor should be used to lower costs c. Labor and Capital being used are already minimizing costs d. We need to know the fixed costs of production to determine if costs are minimized or not

Answers: 3

Show answers

Other questions on the subject: Business

Business, 21.06.2019 23:50, amandajennings01

Juan has a retail business selling skateboard supplies he maintains large stockpiles of every item he sells in a warehouse on the outskirts of town he keeps finding that he has to reorder certain supplies all the time but others only once a year how can he solve this problem?

Answers: 1

continue

Business, 22.06.2019 06:10, aj0914

Investment x offers to pay you $5,700 per year for 9 years, whereas investment y offers to pay you $8,300 per year for 5 years. if the discount rate is 6 percent, what is the present value of these cash flows? (do not round intermediate calculations and round your answers to 2 decimal places, e. g., 32.16.) present value investment x $ investment y $ if the discount rate is 16 percent, what is the present value of these cash flows? (do not round intermediate calculations and round your answers to 2 decimal places, e. g., 32.16.) present value investment x $ investment y

Answers: 1

continue

Business, 22.06.2019 10:00, silviamgarcia

Scenario: you have advised the owner of bond's gym that the best thing to do would be to raise the price of a monthly membership. the owner wants to know what may happen once this price increase goes into effect. what will most likely occur after the price of a monthly membership increases? check all that apply. current members will pay more per month. the quantity demanded for memberships will decrease. the number of available memberships will increase. the owner will make more money. bond's gym will receive more membership applications.

Answers: 1

continue

Business, 22.06.2019 20:00, jaylennkatrina929

Which of the following is a competitive benefit experienced by the first mover firm in an industry? a. the first mover will be able to achieve a less steep learning curve. b. the first mover will be able to reduce the switching costs. c. the first mover will not have to patent its products or technology. d. the first mover will be able to reduce costs through economies of scale.

Answers: 3

continue

Do you know the correct answer?

The production function for fish harvesting is Cobb-Douglas. Currently, the Marginal Rate of Technic...