For the production function Qs = K0.4L0.1 find the returns to scale, recall that a doubling of inputs that doulbes output is a CONSTANT returns to scale = 1.0 Please enter your response as a positive number with 1 decimal and 5/4 rounding (e.g. 1.15 = 1.2, 1.14 = 1.1).
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For the production function Qs = K0.4L0.1 find the returns to scale, recall that a doubling of inputs that doulbes output is a CONSTANT returns to scale = 1.0
Please enter your response as a positive number with 1 decimal and 5/4 rounding (e.g. 1.15 = 1.2, 1.14 = 1.1).
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- QUESTION 1 For the production function Qs = K0.6L0.7 find the returns to scale, recall that a doubling of inputs that doulbes output is a CONSTANT returns to scale = 1.0 Please enter your response as a positive number with 1 decimal and 5/4 rounding (e.g. 1.15 = 1.2, 1.14 = 1.1).Determine the returns to scale for the following production functions. a) ? = K + 7L b) ? = KL3100VKL, where q is 4. The production function for puffed rice is given by q = 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. (a) Calculate the q = 1,000 isoquant for this production function and show it on a graph. (b) If K = 10, how many workers are required to produce q =1,000? What is the average productivity of puffed-rice workers? (c) Suppose technical progress shifts the production function to q = 200 VKL. Answer parts (a) and (b) for this new situation.
- Does this production function q = 9K0.8L0.1 exhibits [increasing return to scale, constant return to scale, decreasing constant return to scale]Which of the following production functions exhibits constant returns to scale (refer to activities and slides ): Group of answer choices q = AL0.5K0.6 q = AL0.3K0.4 q = AL0.5K0.7 Q = 10 L0.3 K0.7For the production function Q = 0.2L2 returns to scale is: a.Constant Returns to Scale b.Decreasing Returns to Scale c.Increasing Returns to Scale d.Zero Return to Scale
- : Suppose that the production functions be like as (A) i) Y = X15 X20.5 ii)Y= X10.5 + X20.5 Find MRTS of these functionsWhich of the following production functions represent increasing returns to scale? 1. f(K, L) = 2K + 3L II. f(K, L) =[K¹/² + [¹/2]³ III. f(K, L) = min{4K, L} IV. f(K, L) = 5KL-K²/2 - 1²/2 (1) only (II) only (II) and (IV) All of them (1) and (III)Q1 a) Given a production function depicting the response of paddy rice tofertilizer application,Y = 3X+ 9X2 - X3(i) Calculate the exact MPP and APP.(ii) At what level of fertilizer input(X) does MPP, APP and TPP reachtheir maximum values?(iii) At what level of fertilizer input will r = 0? And what is the valueof TPP at that level?(iv) If the farmer increases the amount of fertilizer in his riceproduction in his area of diminishing returns, explain whether ornot total production will increase or decrease.b) Explain the economic significance of farm records.Q2 a) What are the major objectives of agricultural marketing?b) Explain how one can evaluate the efficiency of a marketing situation.
- Q1 a) Given a production function depicting the response of paddy rice tofertilizer application,Y = 3X+ 9X2 - X3(i) Calculate the exact MPP and APP.(ii) At what level of fertilizer input(X) does MPP, APP and TPP reachtheir maximum values?(iii) At what level of fertilizer input will r = 0? And what is the valueof TPP at that level?(iv) If the farmer increases the amount of fertilizer in his riceproduction in his area of diminishing returns, explain whether ornot total production will increase or decrease.For the production function Qs = K0.5L0.7 find the returns to scale, recall that a doubling of inputs that doulbes output is a CONSTANT returns to scale = 1.0Which of the following production functions exhibits constant return to scale? A) q=KL B) q=KL0.5 C) q=K+L D) q=log(KL)
