Question 1

A firm has a production function f(x,y)=2(x0.90 + y0.90)5 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 2

A firm has the production function f(x,y)=x1.20y2.This firm has

Accepted Answer

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

Question 3

A firm has the production function f(x,y)=x1.40y1.90.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)  decreasing returns to scale and increasing marginal product for factor x. 
D)  constant returns to scale. 
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)  decreasing returns to scale and increasing marginal product for factor x. 
D)  constant returns to scale. 
E)  None of the above.

Question 4

A firm has a production function f(x,y)=1.80(x0.10 + y0.10)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. 
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 5

In Problem 3,if the exponents in the production function were 0.60 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)  constant,would not 
B)  increasing,would 
C)  decreasing,would not 
D)  constant,would 
E)  decreasing,would 
A)  constant,would not 
B)  increasing,would 
C)  decreasing,would not 
D)  constant,would 
E)  decreasing,would

Exam 19:Technology-Part B

A firm has a production function f(x,y)=2(x0.90 + y0.90)5 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)=x1.20y2.This firm has

A firm has the production function f(x,y)=x1.40y1.90.This firm has

A firm has a production function f(x,y)=1.80(x0.10 + y0.10)2 whenever x >\gt> 0 and y >\gt> 0.When the amounts of both inputs are positive,this firm has

In Problem 3,if the exponents in the production function were 0.60 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.

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

Asymmetric Information-Part A

Asymmetric Information-Part B

Filters

A firm has a production function f(x,y)=2(x^0.90 + y^0.90)⁵ 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^1.20y².This firm has

A firm has the production function f(x,y)=x^1.40y^1.90.This firm has

A firm has a production function f(x,y)=1.80(x^0.10 + y^0.10)² whenever x $\gt$ 0 and y $\gt$ 0.When the amounts of both inputs are positive,this firm has

In Problem 3,if the exponents in the production function were 0.60 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.