Wednesday
August 20, 2014

Homework Help: econ

Posted by jon on Wednesday, October 17, 2007 at 11:02pm.

Suppose the economy consists of two types of firms: Type A firms which produce output using a technology Qa=Min(K,1/2L) and Type B firms which produce output using the technology Qb=Min(K,L). The economy has exactly forty units of labor and thirty units of capital. If we assume that all resources are fully employed, how much of good A will be produced? HOw much of good B?

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

econ - Suppose that the economy consists of two types of firms: type A firms ...
economics - Suppose that the economy consists of two types of firms: type A ...
Economics - Suppose the economy consists of two types of firms: Type A firms ...
Finance - 21. Consider an economy with two types of firms, S and I. S firms all ...
Microeconomics - Oligopoly - Two firms decide to form a cartel and collude in a ...
Advanced MicroEconomics - In a competitive market, there are two groups of ...
Advanced MicroEconomics - In a competitive market, there are two groups of firms...
managerial economicsQ3 - Suppose the inverse market demand equation is P = 80 íV...
Economics - Should a firm shut down its unprofitable operation. Firm uses 70,000...
Microeconomics - What are the conditions for an oligolpolistic market? How do ...

Search
Members