Question Question 1.1. A production function (Points: 1) a. Tells you how inputs are affected by output b. Tells you how output varies as inputs vary c. Assumues that the sate of technology is given d. None of the above Question 2.2. The short run for a company is (Points: 1) a.
Multiple Choice Questions for Economics with Answers. Economics Questions and Answers. “An Enquiry into the Nature and Causes of Wealth of Nations” is the book. Apr 12, 2016 - Supported Multiple Choice Questions for Unit 3 Economics. Answering Supported Multiple Choice Unit 3 A2 Microeconomics - 2016 Supported Multiple Choice Questions for Unit 3 Economics; 2. General Advice for Unit 3 MC Econ • Maximum mark is 2/4 if the incorrect answer is given • Knock-outs.
Less than one year b. More than one year but less than tree years c. Defined by calendar time elapsed d. None of the above Question 3.3. In the production function: Q=2.6L.5 *k.4*M.1, returns to scale implied are: (Points: 1) a. 2.6 times the amount of inputs b. Increasing returns c.
None of the above Question 4.4. Serial Number For Artlantis 6 more. Given the production function: Q=6L2M2.10L3M3, where L=units of labor and M=units of material. How many units of L maximize Q, given M=10 is fixed? (Points: 1) a.