doubtsss

Posted by SoniaKapoor on May 31, 2014; 7:19am
URL: http://discussion-forum.276.s1.nabble.com/doubtsss-tp7591143.html

q1 The demand for spring water is given by P = 1000- Q. Assume that the cost of
production to be zero. What is the equilibrium price for the industry if there are four
firms in the industry?
a) Rs. 800
b) Rs. 200
c) Rs.100
d) Rs.1000


q2 Of the production functions, which one of the following represents decreasing
returns to scale?
a) Q = 2K + 3L +KL
b) Q = 20K^0.6^L0.5
c) Q = 100 + 3K +2L
d) Both a) and c) above