Juan Valdez owns a coffee farm in Colombia. His pro f(x1, x2) = (x1 – 1)0.25, %3D Assume the price of input 1 is r and the price of inpu (a) Write down an expression for the technical rate o (b) Find Juan's demand for inputs conditional on wants to produce. (c) Find Juan's cost function. (d) What is the supply function of Juan's firm?

4) A firm faces a production function of twittle-twaps: Q(K,Lp,Ln) = 5*K(2/5)*LP(1/3)*LN(1/5) per hour, where capital (K), production labor (LP), and non-production labor (LN) are input factors used in production. The firm operates in a competitive market, where they are a price taker within the capital & labor markets and its own price (r = 40, wP = 25, wN = 50, P = 20). Answer the following.a. If capital and non-production labor are fixed at K = 32 and LN = 243, what is the general form MPLP and graph Q wrt to LP changing [you do not need to solve for LP yet].b. Is this production function decreasing, constant, or increasing returns to scale and why.c. Given the wage of production workers and the price of twittle-twaps, what is the optimal number of LP to employ to maximize profits and the quantity produced (VMPLP = wP).d. If the firm can control both K and LP, what does the Isoquant curve look like and its slope in relative terms if LN is fixed at 243 units [IQ slope =…

2 The company Shirts Galore has figured its total cost of producing and sclling x units of T-shirts per month is given by the equation C(x) = 120 +2.5x-0.0002r. a) Write a rational function to represent the average cost of producing and selling a shirt. b) If the production level is 1200 shirts per month, find the average cost of producing and selling a shirt. c) If the shirts are sold for $7.98 a shirt, what is the profit realized on producing and selling 1200 shirts per month? d) What price must be charged when selling the shirts for a profit of $7368 to bc made on 1200 shirts in one month? * A large company is considering changing

25) If a firm has the cost function C(q) = 5q² + 20q + 180 and the marginal cost function MC(q) = 10q + 20, at what quantity is its average cost minimized?

Suppose that the total cost (in dollars) for a product is given by C(x)=1300+ 160 In(2x + 1) where x is the number of units produced. (a) Find the marginal cost MC function. MC = (b) Find the marginal cost when 160 units are produced. (Round your answer to the nearest cent.) $ Interpret your result. The profit from the next unit will be approximately this amount. This is the total cost of producing 160 units. ◇ This is the total profit from producing 160 units. ○ It will cost approximately this amount to make the next unit. (c) Total cost functions always increase because producing more items costs more. What then must be true of the marginal cost function? ○ MC ≥ 0 ○ MC > 0 ○ MC ≤ 0 ○ MC = 0 ○ MC <0 Does it apply in this problem? ○ Yes Ο ΝΟ

X and X2 are the two factors used in production A firm's production function: fcx₁, x₂) = max {x₁, X₂} the price of X, is W₁=8, and the price of X₂ is W₂=10 The firm paproduce 100 total units of output, what is the total cost?

Law of diminishing returns......

E Let the demand function for a product be given by the function D(q) = -1.65g + 270, where q is the quantity of items in demand and D(q) is the price per item, in dollars, that can be charged when q units are sold. Suppose fixed costs of production for this item are $4, 000 and variable costs are $3 per item produced. If 96 items are produced and sold, find the following: A) The total revenue from selling 96 items (to the nearest penny). Answer: $ B) The total costs to produce 96 items (to the nearest penny). Answer: $ C) The total profits to produce 96 items (to the nearest penny. Profits may or may not be negative.). Answer: $ Question Help: C ME PE Video 66°F Mostly cloudy

Suppose function of Total Cost (TC) is the following: CT = 300 + 3Q + 2Q2 Where AT is total costo in USD y Q is number of boxes of manufactured devices  a) What are functions of Fixed Cost (FC) and Average Fixed Cost (AFC) ? Graph both b) What are functions of Variable Cost (VC) and Average Variable Cost (AVC) ? Graph both c) What is Marginal Cost (MC) Graph it

Suppose that a firm has increasing marginal cost, and a positive fixed cost. What happens to minimum effcient scale if the  xed cost increases