A Firm Has the Production Function F(x, Y)=x¹

question 31

Multiple Choice

A firm has the production function f(x, y) =x^1.40y^0.90.This firm has

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

Learn about the transferability of intellectual property rights such as patents.

Grasp the legal requirements and consequences related to injurious falsehood cases.

Comprehend the distinctions between copyright, patent, and trademark protections.

Understand the duration and validity conditions of patents.

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Definitions:

Price Discrimination

The strategy of selling the same product to different customers at different prices based on their willingness to pay, not differences in production costs.

Fourth of July

A national holiday in the United States commemorating the adoption of the Declaration of Independence on July 4, 1776.

Newspaper Coupon

a voucher printed in newspapers that offers a discount on a particular product or service.

Price-Elastic

A scenario where the quantity demanded or supplied of a good is sensitive to changes in its price.