Question 1

In Problem 8,if a = 2.10,b=1.10,and c = 1.20,the marginal products of x1,x2,and x3 (in this order)are

Accepted Answer

A)  all increasing. 
B)  decreasing,increasing,and decreasing. 
C)  all decreasing. 
D)  increasing,decreasing,and constant. 
E)  all increasing if A$\gt$1. 
A)  all increasing. 
B)  decreasing,increasing,and decreasing. 
C)  all decreasing. 
D)  increasing,decreasing,and constant. 
E)  all increasing if A$\gt$1. A

Question 2

A firm has the production function f(x,y)=x1.10y1.This firm has

Accepted Answer

A)  constant returns to scale. 
B)  decreasing returns to scale and diminishing marginal product for factor x. 
C)  increasing returns to scale and decreasing marginal product for factor x. 
D)  decreasing returns to scale and increasing marginal product for factor x. 
E)  None of the above. 
A)  constant returns to scale. 
B)  decreasing returns to scale and diminishing marginal product for factor x. 
C)  increasing returns to scale and decreasing marginal product for factor x. 
D)  decreasing returns to scale and increasing marginal product for factor x. 
E)  None of the above. E

Question 3

In Problem 8,if a = 2.10,b= 0.40,and c = 1,the marginal products of x1,x2,and x3 (in this order)are

Accepted Answer

A)  all decreasing. 
B)  increasing,decreasing,and constant. 
C)  decreasing,increasing,and decreasing. 
D)  all increasing. 
E)  all increasing if A $\gt$ 1. 
A)  all decreasing. 
B)  increasing,decreasing,and constant. 
C)  decreasing,increasing,and decreasing. 
D)  all increasing. 
E)  all increasing if A $\gt$ 1. B

Question 4

This problem will be easier if you have done Problem 1.A firm has the production function $f(x1,x2)=x11x0.502.The isoquant on which output is 805/10 has the equation

Accepted Answer

A)  x1/x2 = 2. 
B)  x2 =80x - 0.501. 
C)  x2= 80x - 21. 
D)  x2 =80x21. 
E)  x1 = 0.50x - 0.502 
A)  x1/x2 = 2. 
B)  x2 =80x - 0.501. 
C)  x2= 80x - 21. 
D)  x2 =80x21. 
E)  x1 = 0.50x - 0.502

Question 5

In Problem 8,if a = 2.50,b = 0.60,and c = 1,the marginal products of x1,x2,and x3 (in this order)are

Accepted Answer

A)  increasing,decreasing,and constant. 
B)  decreasing,increasing,and decreasing. 
C)  all increasing. 
D)  all decreasing. 
E)  all increasing if A $\gt$1. 
A)  increasing,decreasing,and constant. 
B)  decreasing,increasing,and decreasing. 
C)  all increasing. 
D)  all decreasing. 
E)  all increasing if A $\gt$1.

Question 6

This problem will be easier if you have done Problem 1.A firm has the production function $f(x1,x2)=x2.501x0.502.The isoquant on which output is 505/10 has the equation

Accepted Answer

A)  x2 =50x - 51. 
B)  x2 =50x21. 
C)  x1/x2=5. 
D)  x2 =50x - 0.501. 
E)  x1 = 0.50x - 0.502. 
A)  x2 =50x - 51. 
B)  x2 =50x21. 
C)  x1/x2=5. 
D)  x2 =50x - 0.501. 
E)  x1 = 0.50x - 0.502.

Question 7

A firm has the production function f(x,y)=x1.40y1.40.This firm has

Accepted Answer

A)  constant returns to scale. 
B)  decreasing returns to scale and increasing marginal product for factor x. 
C)  decreasing returns to scale and diminishing marginal product for factor x. 
D)  increasing returns to scale and decreasing marginal product for factor x. 
E)  None of the above. 
A)  constant returns to scale. 
B)  decreasing returns to scale and increasing marginal product for factor x. 
C)  decreasing returns to scale and diminishing marginal product for factor x. 
D)  increasing returns to scale and decreasing marginal product for factor x. 
E)  None of the above.

Question 8

This problem will be easier if you have done Problem 1.A firm has the production function $f(x1,x2)=0.401x0.202.The isoquant on which output is 502/10 has the equation

Accepted Answer

A)  x2 =50x51. 
B)  x2 = 50x - 0.201. 
C)  x1/x2=2. 
D)  x2=50x - 21. 
E)  x1 =0.20x - 0.802. 
A)  x2 =50x51. 
B)  x2 = 50x - 0.201. 
C)  x1/x2=2. 
D)  x2=50x - 21. 
E)  x1 =0.20x - 0.802.

Question 9

A firm has a production function f(x,y)=1.80(x0.80 + y0.80)1 whenever x $\gt$ 0 and y $\gt$ 0.When the amounts of both inputs are positive,this firm has

Accepted Answer

A)  increasing returns to scale. 
B)  constant returns to scale. 
C)  decreasing returns to scale. 
D)  increasing returns to scale if x + y $\gt$1 and decreasing returns to scale otherwise. 
E)  increasing returns to scale if output is less than 1 and decreasing returns to scale if output is greater than 1. 
A)  increasing returns to scale. 
B)  constant returns to scale. 
C)  decreasing returns to scale. 
D)  increasing returns to scale if x + y $\gt$1 and decreasing returns to scale otherwise. 
E)  increasing returns to scale if output is less than 1 and decreasing returns to scale if output is greater than 1.

Question 10

This problem will be easier if you have done Problem 1.A firm has the production function $f(x1,x2)=0.501x0.102.The isoquant on which output is 401/10 has the equation

Accepted Answer

A)  x1/x2 =5. 
B)  x2 =40x101. 
C)  x2=40x - 51. 
D)  x2 =40x - 0.101. 
E)  x1=0.10x - 0.902. 
A)  x1/x2 =5. 
B)  x2 =40x101. 
C)  x2=40x - 51. 
D)  x2 =40x - 0.101. 
E)  x1=0.10x - 0.902.

Question 11

This problem will be easier if you have done Problem 1.A firm has the production function $f(x1,x2)=x0.901x0.302.The isoquant on which output is 803/10 has the equation

Accepted Answer

A)  x2 =80x3.331. 
B)  x2 =80x231. 
C)  x1/x2 =3. 
D)  x2 =80x - 0.301. 
E)  x1 =0.30x - 0.702. 
A)  x2 =80x3.331. 
B)  x2 =80x231. 
C)  x1/x2 =3. 
D)  x2 =80x - 0.301. 
E)  x1 =0.30x - 0.702.

Question 12

In Problem 3,if the exponents in the production function were 0.40 for x1 and 0.40 for x2,this production function would exhibit (constant,increasing,decreasing)returns to scale and (would,would not)have diminishing technical rate of substitution.

Accepted Answer

A)  increasing,would 
B)  decreasing,would not 
C)  constant,would 
D)  constant,would not 
E)  decreasing,would 
A)  increasing,would 
B)  decreasing,would not 
C)  constant,would 
D)  constant,would not 
E)  decreasing,would

Question 13

In Problem 3,if the exponents in the production function were 0.30 for x1 and 0.20 for x2,this production function would exhibit (constant,increasing,decreasing)returns to scale and (would,would not)have diminishing technical rate of substitution.

Accepted Answer

A)  decreasing,would not 
B)  constant,would not 
C)  increasing,would 
D)  constant,would 
E)  decreasing,would 
A)  decreasing,would not 
B)  constant,would not 
C)  increasing,would 
D)  constant,would 
E)  decreasing,would

Question 14

A firm has a production function f(x,y)=0.70(x0.80 + y0.80)2 whenever x $\gt$ 0 and y $\gt$ 0.When the amounts of both inputs are positive,this firm has

Accepted Answer

A)  increasing returns to scale if x+ y$\gt$1 and decreasing returns to scale otherwise. 
B)  increasing returns to scale. 
C)  decreasing returns to scale. 
D)  constant returns to scale. 
E)  increasing returns to scale if output is less than 1 and decreasing returns to scale if output is greater than 1. 
A)  increasing returns to scale if x+ y$\gt$1 and decreasing returns to scale otherwise. 
B)  increasing returns to scale. 
C)  decreasing returns to scale. 
D)  constant returns to scale. 
E)  increasing returns to scale if output is less than 1 and decreasing returns to scale if output is greater than 1.

Question 15

A firm has the production function f(x,y)=x1.10y1.30.This firm has

Accepted Answer

A)  decreasing returns to scale and diminishing marginal product for factor x. 
B)  increasing returns to scale and decreasing marginal product for factor x. 
C)  constant returns to scale. 
D)  decreasing returns to scale and increasing marginal product for factor x. 
E)  None of the above. 
A)  decreasing returns to scale and diminishing marginal product for factor x. 
B)  increasing returns to scale and decreasing marginal product for factor x. 
C)  constant returns to scale. 
D)  decreasing returns to scale and increasing marginal product for factor x. 
E)  None of the above.

Question 16

In Problem 3,if the exponents in the production function were 0.80 for x1 and 0.20 for x2,this production function would exhibit (constant,increasing,decreasing)returns to scale and (would,would not)have diminishing technical rate of substitution.

Accepted Answer

A)  constant,would 
B)  decreasing,would not 
C)  increasing,would 
D)  constant,would not 
E)  decreasing,would 
A)  constant,would 
B)  decreasing,would not 
C)  increasing,would 
D)  constant,would not 
E)  decreasing,would

Question 17

In Problem 8,if a = 2.40,b =0.50,and c= 1,the marginal products of x1,x2,and x3 (in this order)are

Accepted Answer

A)  increasing,decreasing,and constant. 
B)  all increasing. 
C)  all decreasing. 
D)  decreasing,increasing,and decreasing. 
E)  all increasing if A $\gt$1. 
A)  increasing,decreasing,and constant. 
B)  all increasing. 
C)  all decreasing. 
D)  decreasing,increasing,and decreasing. 
E)  all increasing if A $\gt$1.

Question 18

A firm has a production function f(x,y)=0.70(x0.20 +y0.20)4 whenever x $\gt$ 0 and y $\gt$ 0.When the amounts of both inputs are positive,this firm has

Accepted Answer

A)  increasing returns to scale. 
B)  decreasing returns to scale. 
C)  constant returns to scale. 
D)  increasing returns to scale if x + y $\gt$ 1 and decreasing returns to scale otherwise. 
E)  increasing returns to scale if output is less than 1 and decreasing returns to scale if output is greater than 1. 
A)  increasing returns to scale. 
B)  decreasing returns to scale. 
C)  constant returns to scale. 
D)  increasing returns to scale if x + y $\gt$ 1 and decreasing returns to scale otherwise. 
E)  increasing returns to scale if output is less than 1 and decreasing returns to scale if output is greater than 1.

Question 19

In Problem 8,if a =2.10,b= 0.90,and c = 1,the marginal products of x1,x2,and x3 (in this order)are

Accepted Answer

A)  decreasing,increasing,and decreasing. 
B)  all increasing. 
C)  increasing,decreasing,and constant. 
D)  all decreasing. 
E)  all increasing if A $\gt$ 1. 
A)  decreasing,increasing,and decreasing. 
B)  all increasing. 
C)  increasing,decreasing,and constant. 
D)  all decreasing. 
E)  all increasing if A $\gt$ 1.

Question 20

In Problem 3,if the exponents in the production function were 0.30 for x1 and 0.30 for x2,this production function would exhibit (constant,increasing,decreasing)returns to scale and (would,would not)have diminishing technical rate of substitution.

Accepted Answer

A)  constant,would 
B)  constant,would not 
C)  decreasing,would not 
D)  increasing,would 
E)  decreasing,would 
A)  constant,would 
B)  constant,would not 
C)  decreasing,would not 
D)  increasing,would 
E)  decreasing,would

Exam 19:Technology-Part B

In Problem 8,if a = 2.10,b=1.10,and c = 1.20,the marginal products of x1,x2,and x3 (in this order)are

A firm has the production function f(x,y)=x1.10y1.This firm has

In Problem 8,if a = 2.10,b= 0.40,and c = 1,the marginal products of x1,x2,and x3 (in this order)are

This problem will be easier if you have done Problem 1.A firm has the production function $f(x1,x2)=x11x0.502.The isoquant on which output is 805/10 has the equation

In Problem 8,if a = 2.50,b = 0.60,and c = 1,the marginal products of x1,x2,and x3 (in this order)are

This problem will be easier if you have done Problem 1.A firm has the production function $f(x1,x2)=x2.501x0.502.The isoquant on which output is 505/10 has the equation

A firm has the production function f(x,y)=x1.40y1.40.This firm has

This problem will be easier if you have done Problem 1.A firm has the production function $f(x1,x2)=0.401x0.202.The isoquant on which output is 502/10 has the equation

A firm has a production function f(x,y)=1.80(x0.80 + y0.80)1 whenever x >\gt> 0 and y >\gt> 0.When the amounts of both inputs are positive,this firm has

This problem will be easier if you have done Problem 1.A firm has the production function $f(x1,x2)=0.501x0.102.The isoquant on which output is 401/10 has the equation

This problem will be easier if you have done Problem 1.A firm has the production function $f(x1,x2)=x0.901x0.302.The isoquant on which output is 803/10 has the equation

In Problem 3,if the exponents in the production function were 0.40 for x1 and 0.40 for x2,this production function would exhibit (constant,increasing,decreasing)returns to scale and (would,would not)have diminishing technical rate of substitution.

In Problem 3,if the exponents in the production function were 0.30 for x1 and 0.20 for x2,this production function would exhibit (constant,increasing,decreasing)returns to scale and (would,would not)have diminishing technical rate of substitution.

A firm has a production function f(x,y)=0.70(x0.80 + y0.80)2 whenever x >\gt> 0 and y >\gt> 0.When the amounts of both inputs are positive,this firm has

A firm has the production function f(x,y)=x1.10y1.30.This firm has

In Problem 3,if the exponents in the production function were 0.80 for x1 and 0.20 for x2,this production function would exhibit (constant,increasing,decreasing)returns to scale and (would,would not)have diminishing technical rate of substitution.

In Problem 8,if a = 2.40,b =0.50,and c= 1,the marginal products of x1,x2,and x3 (in this order)are

A firm has a production function f(x,y)=0.70(x0.20 +y0.20)4 whenever x >\gt> 0 and y >\gt> 0.When the amounts of both inputs are positive,this firm has

In Problem 8,if a =2.10,b= 0.90,and c = 1,the marginal products of x1,x2,and x3 (in this order)are

In Problem 3,if the exponents in the production function were 0.30 for x1 and 0.30 for x2,this production function would exhibit (constant,increasing,decreasing)returns to scale and (would,would not)have diminishing technical rate of substitution.

Demand-Part A

Revealed Preference-Part A

Revealed Preference-Part B

Slutsky Equation-Part A

Slutsky Equation-Part B

Buying and Selling-Part A

Buying and Selling-Part B

Intertemporal Choice-Part A

Intertemporal Choice-Part B

Asset Markets-Part A

Asset Markets-Part B

Uncertainty-Part A

Uncertainty-Part B

Risky Assets-Part A

Risky Assets-Part B

Consumers Surplus-Part A

Consumers Surplus-Part B

Market Demand-Part A

Market Demand-Part B

Equilibrium-Part A

Equilibrium-Part B

Auctions-Part A

Auctions-Part B

Technology-Part A

Profit Maximization-Part A

Profit Maximization-Part B

Cost Minimization-Part A

Cost Minimization-Part B

Cost Curves-Part A

Cost Curves-Part B

Firm Supply-Part A

Firm Supply-Part B

Industry Supply-Part A

Industry Supply-Part B

Monopoly-Part A

Monopoly-Part B

Monopoly Behavior-Part A

Monopoly Behavior-Part B

Factor Markets-Part A

Factor Markets-Part B

Oligopoly-Part A

Oligopoly-Part B

Game Theory-Part A

Game Theory-Part B

Game Applications-Part A

Game Applications-Part B

Behavioral Economics-Part A

Exchange-Part A

Exchange-Part B

Production-Part A

Production-Part B

Welfare-Part A

Welfare-Part B

Externalities-Part A

Externalities-Part B

Information Technology-Part A

Information Technology-Part B

Public Goods-Part A

Public Goods-Part B

In Problem 8,if a = 2.10,b=1.10,and c = 1.20,the marginal products of x₁,x₂,and x₃ (in this order)are

A firm has the production function f(x,y)=x^1.10y¹.This firm has

In Problem 8,if a = 2.10,b= 0.40,and c = 1,the marginal products of x₁,x₂,and x₃ (in this order)are

This problem will be easier if you have done Problem 1.A firm has the production function $f(x₁,x₂)=x¹₁x^0.50₂.The isoquant on which output is 80^5/10 has the equation

In Problem 8,if a = 2.50,b = 0.60,and c = 1,the marginal products of x₁,x₂,and x₃ (in this order)are

This problem will be easier if you have done Problem 1.A firm has the production function $f(x₁,x₂)=x^2.50₁x^0.50₂.The isoquant on which output is 50^5/10 has the equation

A firm has the production function f(x,y)=x^1.40y^1.40.This firm has

This problem will be easier if you have done Problem 1.A firm has the production function $f(x₁,x₂)=^0.40₁x^0.20₂.The isoquant on which output is 50^2/10 has the equation

A firm has a production function f(x,y)=1.80(x^0.80 + y^0.80)¹ whenever x $\gt$ 0 and y $\gt$ 0.When the amounts of both inputs are positive,this firm has

This problem will be easier if you have done Problem 1.A firm has the production function $f(x₁,x₂)=^0.50₁x^0.10₂.The isoquant on which output is 40^1/10 has the equation

This problem will be easier if you have done Problem 1.A firm has the production function $f(x₁,x₂)=x^0.90₁x^0.30₂.The isoquant on which output is 80^3/10 has the equation

In Problem 3,if the exponents in the production function were 0.40 for x₁ and 0.40 for x₂,this production function would exhibit (constant,increasing,decreasing)returns to scale and (would,would not)have diminishing technical rate of substitution.

In Problem 3,if the exponents in the production function were 0.30 for x₁ and 0.20 for x₂,this production function would exhibit (constant,increasing,decreasing)returns to scale and (would,would not)have diminishing technical rate of substitution.

A firm has a production function f(x,y)=0.70(x^0.80 + y^0.80)² whenever x $\gt$ 0 and y $\gt$ 0.When the amounts of both inputs are positive,this firm has

A firm has the production function f(x,y)=x^1.10y^1.30.This firm has

In Problem 3,if the exponents in the production function were 0.80 for x₁ and 0.20 for x₂,this production function would exhibit (constant,increasing,decreasing)returns to scale and (would,would not)have diminishing technical rate of substitution.

In Problem 8,if a = 2.40,b =0.50,and c= 1,the marginal products of x₁,x₂,and x₃ (in this order)are

A firm has a production function f(x,y)=0.70(x^0.20 +y^0.20)⁴ whenever x $\gt$ 0 and y $\gt$ 0.When the amounts of both inputs are positive,this firm has

In Problem 8,if a =2.10,b= 0.90,and c = 1,the marginal products of x₁,x₂,and x₃ (in this order)are

In Problem 3,if the exponents in the production function were 0.30 for x₁ and 0.30 for x₂,this production function would exhibit (constant,increasing,decreasing)returns to scale and (would,would not)have diminishing technical rate of substitution.