A college football coach says that given any two linemen A and B, he always prefers the one who is bigger and faster. Is this preference relation transitive? Is it complete?
A college football coach says that given any two linemen A and B, he always prefers the one who is bigger and faster. Is this preference relation transitive? Is it complete?
Chapter29: Resource Markets
Section: Chapter Questions
Problem 3E
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- A college football coach says that given any two linemen A and B, he always prefers the one who is bigger and faster. Is this preference relation transitive? Is it complete?
The production function for puffed rice is given by q , where q is the number of boxes produced per hour, K is the number of puffing guns used each hour, and L is the number of workers hired each hour.
- Calculate the q = 1,000 isoquant for this production function and show it on a graph.
- If K = 10, how many workers are required to produce q = 1,000? What is the average productivity of puffed-rice workers?
- Suppose technical progress shifts the production function to , answer parts a
and b for this new situation.
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