Q: the returns to scale for the following production functions: q = K.34L.34 q = KLM
A: DISCLAIMER “Since you have asked multiple question, we will solve the first 3 question for you. If…
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A: Q = 3KL Fixed Cost = 15,000 Variable Cost = 5000
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A: Given the production function Q=30K0.7 L 0.5 the input price are w=30 and r=20 Determine the…
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A: Firm’s production function is shown below.
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A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…
Q: If a production function exhibits decreasing returns to scale, average cost will decrease as output…
A: Average cost is the per-unit cost of output.
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A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…
Q: Consider the production function: Q = 2K + 3L. The MRTSLK is:
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Q: If the production function of a firm is given by Q=K2L3 and the input prices are r=Birr 8 per unit…
A: The production function shows the relationship between inputs and output produced. Inputs are the…
Q: The engineers at Morris Industries obtained the following estimate of the firm's production…
A: Production Function i.e., Q = F(K,L) where, Q is the total number of output produced, k…
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Q: Find out the maximum possible output for a firm with 12 units of L and 24 units of K when its…
A: We have to find maximum possible output for a firm with, Labour (L) = 12 units Capital (K) = 24…
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A: The optimal quantity of labor and capital would be when MPL / MPK = W / R
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A: Here, we have to find constant returns to scale.
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A: Answer Given : q= K0.4 L0.6 LPl + KPk = C Where C= Cost Lagrange function: La= q-a(Lpl+KPk-C)…
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A: Given: β = 0.81Y = ALβK1-β
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Q: unconstraint optimization Production function, given Q=L2+K2-2L+1, find the maximum and minimum…
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Q: How would you determine that a two-input Cobb-Douglas production function has decreasing returns to…
A: Answer to the question is as follows :
Q: 6. Optimize the Cobb-Douglas production function given the following parameters. The maximum 12 and…
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A: Given information: Production function q=√L+8K3 Input combination 3,6 (L = 3 and K = 6)
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A: Meaning of Production Function: The term production function refers to the situation under which a…
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A: Answer to the question is as follows :
Q: Find out the maximum possible output for a firm with two units of L and 50 units of k when its…
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Q: The firm's production function is given as: Q (L,K) = 2L + 30K. The costs of Labor (L) and Capital…
A: We have Q(L, K)=2L+30K ... (1) w=$20 and r=$2 Desired output=1000
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- Suppose that the production function of a chip manufacturer is O- KL'-L. If L-100 and K- 200, then A) MP, =1,245 B) MP-10,000 C) MP, 6,545 D) MP, - 250 E) MP, - 20,000Revenue and Cost The total weekly revenue functionfor a certain digital camera is given by R = 550xdollars, and the total weekly cost function for thecameras is C = 10,000 + 30x + x2dollars, where xis the number of cameras that are produced and sold.a. Find the profit function.b. Find the number of cameras that gives maximumprofit.c. Find the maximum possible profit.When Yennefer produces 41 spells her average total cost is $47.08 and her fixed cost is $306.What are her variable costs?
- TC = 81 + 16Q + 3Q2What is the average variable cost when 10 units are produced?Use the information in the graph to the right to find the values for the following at an output level of 35. 100 The marginal cost is S (Enter a numenc response using an integer.) MC ATC AVC 54 38 -- 17 35 PostWhen Yennefer produces 68 spells her total cost is $4,530 and her average variable cost is $23.What are her fixed costs?
- Please I need help on the math question I don't ge it Suppose that the monthly cost, in dollars, of producing x chairs is C(x)=0.005x3+0.07x2+15x+600, and currently 35 chairs are produced monthly. a) What is the current monthly cost? b) What is the marginal cost when x=35? c) Use the result from part (b) to estimate the monthly cost of increasing production to 37 chairs per month. d) What would be the actual additional monthly cost of increasing production to 37 chairs monthly?It costs a baker a fixed cost of $420 and variable cost of $2.10 per cupcake. A cupcake issold for $4.90 each.(i) Make a table showing the total cost and the revenue obtained from producing 20,40,60,80 and 100 cupcakes.(ii) Write algebraic expressions representing the cost C and the revenue R as functions of the number of cupcakes X produced and number of cupcakes X sold respectively.(iii) Graph both functions on the same coordinate axes and from your graph determine the cordinate at which cost equals revenue.A local company is planning to manufacture and market a four-slice toaster. For this toaster, the research department’s estimates are aweekly demand of 300 toasters at a price of $25 per toaster and a weekly demand of 400 toasters at a price of $20. The financial department’s estimates are fixed weekly costs of$5,000 and variable costs of $5 per toaster. Assume that the cost function is linear. Use the financial department’s estimates to express the cost function interms of ?. Determinethe Marginal cost and interpret the results.
- Page of 2 ZO The marginal cost for a manufacturer of cherries is MC(q) = 0.06q° + 0.5g + 50 per necaton-cherry. Find the change in total cost for the manufacturer when production is increased from 40 hecaton-cherries to 50 hecaton-cherries.Graph the average total cost curve by first using the point tool to plot points for the average total cost for Q-1, Q-5, and Q-14 and then using the curved-line tool to connect them. You may assume that all total costs for these quantities are multiples of $25. Use the formula ATC=for your calculations. To refer to the graphing tutorial for this question type, please click here P arh NO m 956 *** PAY TH ww 178 9 Q ** See Hint wakaFor any given level of output Select one O A marginal cost must be greater than average cost ов average variable cost must be greater than average fixed cost fixed cost must be greater than variable cost O D average fixed cost must be greater than average variable cost None of the above is necessarily correct
