Trade Balances and the J-Curve a). Provide the TB function from the perspective of Korea, labeling each item appropriately, asTrade Balances and the J-Curve a). Provide the TB function from the perspective of Korea, labeling each item appropriately, assuming its counterpart…suming its counterpart…
September 3, 2020
Answer the following questions about the model of the firm. (a) What is the fi rm’s primary motivation? Under what constraint does the firm try
September 3, 2020

For 2C), why is it root 1/2?? i tried plugging it in for decreasing returns to scale too and it worked but for increasing returns i couldnt figure out why there was a 1/2

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( C ) |3| Does this production technology have increasing , decreasing or constant returns toscale ?"Solution . This production technology does not have increasing returns to scale ."Insee this , consider input level = = 1 / 4 and scale increase " = 1, and note thatf ( xxx ) = VI= 4V 1 / 2= of ( 2) .

KM
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