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GA4s08 - Make sure that you are ready to present enough...

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University of Wisconsin Department of Economics Economics 301: Intermediate Microeconomic Theory Korinna K. Hansen Group Assignment 4 Due Date : Wednesday, March 12, and Friday, March 14, 2008 Reading Assignment: Varian, Chapter 18 Problem Assignment : Here are some critical questions for our class discussions regarding technology and productivity. For each one of the following questions you should be able to communicate to an audience all important relevant information in a well-organized and concise way.
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Unformatted text preview: Make sure that you are ready to present enough detail. 1). Define capital goods, financial capital and physical capital. 2). Define and graph a production set, a production function, and isoquants. 3). Graph and describe the isoquants for a fixed proportions technology. 4). Graph and describe the isoquants for a technology with perfect substitutes. 5). Define the marginal product for factors 1 and 2, and the technical rate of substitution....
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