Homework 5 Key

Homework 5 Key - (c) increases (d) increases (e)...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Economics 102A: Microeconomic Theory Winter 2008 Section 030 Homework 5 Non-Graphical Key: 1. 18.1 (a) 16 L (b) Constant Returns to Scale (c) product of labor. ..... Flatter (d) p 2 1 ± : 41 , p 5 2 ± : 24 , Derivative is 1 2 p L , so teh MP is .5 when L=1 and .25 when L=4 (e) graph 2. 18.3 (a) 1 2 x 1 = 2 1 x 3 = 2 2 (b) decreases
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: (c) increases (d) increases (e) & x 2 3 x 1 (f) Yes (g) increasing 3. 18.9 (a) All C > and a + b < 1 All C > and a + b = 1 All C > and a + b > 1 (b) All C > and b > an d a < 1 (c) For all positive values 1...
View Full Document

This note was uploaded on 04/19/2008 for the course ECON 102A taught by Professor Sorensen during the Winter '08 term at UC Riverside.

Ask a homework question - tutors are online