Assume the production function of a farmer who keeps a poultry is q=f(L) = 100L05, where Lis labor (i.e., the number of people working on the farm) and q is output (number of birds). If the wage rate is w= 2 and the price per bird is p = 5, how many people should he employ? Explain your answer.

Please explain what numbers are being plugged in to get the answer.

am. 118.

Use the following information to answer the following questions: Mickey L. Douglas, owner of MLD Incorporated, knows that the marginal product of labor (MPL) for his workers can be defined as follows: MPL = 32 - L The total output a given level of workers can produce is found as: Q=32L-1/2 L² He also knows that the price of his output is $3. His profits can be found as: Profit=(PxQ)-(W x L) What wage would be required to allow Mickey to hire the twenty-fifth worker? O $21 O $7 O $125 O $3 $25

Goleta Brewing Company hires only two types of labor, managers and brewing assistants (denoted M and B, respectively). GBC has the following Cobb-Douglas production function F(M,B) = M.5 B.5 and wants to produce 10 barrels of pale ale this week. If the wage of managers is $50 per hour and the wage of brewing assistants is $10 per hour, how many managers and brewing assistants should the firm hire (round to nearest whole number)? How does your answer change when the wage of managers decreases to $30 per hour and the wage of brewing assistants remains constant. Is this result consistent with your intuition?

Please don't switch the subject to Advanced Math. For some reason whenever the subject is switched to those two. I don't receive any help it is a bug. please help me thank you.

Hand written solutions are strictly prohibited

Say that a lumber firm is producing output (Q) in the form of trees. They hire lumberjacks (L), but have a fixed level of capital. There are no other inputs. Select the values that correctly fill in the table. L = number of lumberjacks Q = number of trees MPL = marginal product of labor 0 0 -- 1 4   2 10   3 12   4 13   5 13

please help

Maria's Umbrellas has a production function given by Q = L0.5K0.5. The wage (W) is $80 per day and the rental per unit of capital (R) is $5 per day. In the long run, how many units of capital will Maria want to buy for each unit of labor?