Suppose a pizza parlor has the following production costs: $3.00 in labor per pizza, $2.00 in ingredients per pizza, $0.30 in electricity per pizza, $4,000 in restaurant rent per month, and $400 in insurance per month. Assume the pizza parlor produces 8,000 pizzas per month. What is the variable cost of production (per month)? The variable cost of production is $ (Enter your response as an integer.)

Q: y= f(x1,x2)=x1ax2b Derive the equation for an isoquant curve.   If a=b=0.5 , the price of factor 1…

A: y= f(x1,x2)=x1ax2b a=b=0.5 the price of factor 1 is 12, the price of factor 2 is 3

Q: machines (K). The quantity of products produced in a month is given by the function Q = 3KL. Each…

A: Q = 3KL Fixed Cost = 15,000 Variable Cost = 5000

Q: 13. Suppose you have a production technology given by f(x1,x2) = min{2r1, r2} and you are producing…

A: In a market, when a firm produces a product, it requires various input resources like labor, raw…

Q: Consider the following production function: Q = (6L +3K)¹/2 1. What is the Marginal Product of Labor…

A: The production function gives the value of output that can be produced with given inputs and…

Q: Mark launders his white clothes using the production function q=3B+G, where B is the number of cups…

A: Production function: Here B denotes the number of cups of Clorox bleach and G denotes the number of…

Q: A firm can manufacture a product according to the production function Q = 2(K)1/2 (L)1/2 where K…

A: The marginal productivity of labor can be found by differentiating the production function with…

Q: production function Y=F(K,L) = 2K + VI . sa) Write its differential, dF(K,L). Consider the 54) Draw…

A: Given  Y=F(K,L)= L+2K

Q: Suppose the production function is given by Q = 5K - 3L What is the average product of capital when…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: Suppose a soap-manufacturing production process is described by the following  equation: Y = a + b…

A: The marginal product of labor measures the change in output due to change in labor. Mathematically,…

Q: Please choose two topics, one from Technical economies of scale and one from Pecuniary economies of…

A: Economies of scale are cost benefits that organizations gain when production becomes more efficient.…

Q: Define the production function, f(x), and the average product associated with it. How do you…

A: Production is the process of transformation of inputs into output by using factors of production .…

Q: The only variable input a janitorial service firm uses to clean offices is workers who are paid a…

A:

Q: Consider the following production functions • F(L,K) = LK^3  For each for these production…

A:

Q: Suppose a pizza parlor has the following production costs: $2.00 in labor per pizza, $1.00 in…

A: Variable cost is that cost that varies with the change in production level. Hence, the variable cost…

Q: Suppose a pizza parlor has the following production costs: $2.00 in labor per pizza, $3.00 in…

A: Fixed Cost is constant at all units of output produced.  Vraiable Cost changes as the output…

Q: A firm uses the inputs of Iron and labor to produce Cars. Suppose that the quantity of labor is…

A: Marginal product is the amount by which production of a commodity changes from employing more unit…

Q: When production function  q= 0.4 LK+ 3 L^2K- 0.07 L^3K and  K= 12 are given, find amount of labor at…

A: The production function in short-run will be given as below if the value of K (capital) = 12 (fixed…

Q: Suppose that you are the Production Manager of Mini Me, Inc., and you have estimated the…

A: The marginal product of labor (or MPL) refers to a company's increase in total production when one…

Q: Consider the following production function: Y = F(K, L) = A(2K+ 3L) Does this production function…

A: A production function shows constant returns to scale when doubling all the inputs results in a…

Q: Does this production function exhibit constant returns to scale? Using the marginal products you…

A: To evaluate if the production function displays consistent returns to scale, we must first see if…

Q: A firm has the following production function: Q=f (L/K). It must pay $20 per hour of labor and rents…

A: Figure -1 shows the AVC, AFC, ATC and MC curve as follows:

Q: Suppose that a firm's production function is: 112 95 Its marginal product functions are: 84 MP =…

A: Production function is the maximum set of output(s) that can be produced with a given set of inputs.…

Q: 1. A firm can manufacture a product according to the production function Q = F(K, L) = K³/4L¹/4 a.…

A: Q = K3/4L1/4

Q: Lauren runs a chili restaurant in San Francisco. Her total revenue last year was $110,000. The rent…

A: "Implicit costs refer to the opportunity costs i.e. the cost of resources which the business owns…

Q: You manage a store that mass-produces candies by teams of workers using assembly candy machines. The…

A: Q = 3KL  Where , Q = quantity produced of candies in thousands  K = Capital /Machine  L = Labor…

Q: Problem 1: A firm has the following production function: f(L, M) = min{L, 3M) where L is the number…

A: Returns to scale is an economic concept that explains how the scale of production or the size of a…

Q: unction for Soybeans Quantity of labor (workers) Quantity of soybeans (bushels) 1 25 45 3 60 4 70 75…

A: Here we calculate the total cost of 70 bushels by using the given information and choose the correct…

Q: Solve the exercise with a production function with diminishing returns: In this case, production…

A:

Q: Suppose that a rock star gives concerts. The production function of the concert is the following:…

A: To answer this question we are going to solve for total cost function and condition for optimally.

Q: q=35L + 40 K q=L0.5K0.5 For the production functions of (1) and (2) create the isoquants for q =…

A: In economics, a production function is a means of examining the relationship between input and…

Q: Give the formulas for and plat average fixed cest, AFC, marginal cast, MC, average variable cost,…

A: Cost curves are graphical representations of the relationship between the quantity of goods or…

Q: For each of the production functions below, find the marginal products of both inputs, and indicate…

A: A brief introduction to the production function: A production function portrays the functional…

Q: A firm's production function is given by y(K, L) = 2√(KL) or 2(KL).5 (2 times the square root of the…

A: The Marginal Product of Labor (MPL) represents the change in output resulting from employing an…

Q: Suppose a pizza parlor has the following production costs: $3.00 in labor per pizza, $4.00 in…

A: Variable cost is the cost that varies with the change in production level. So, the variable cost…

Q: A company produces commercials. A 2-minute commercial, for example, needs exactly 5 minutes of…

A: Production function is used to explain how inputs and outputs relate to one another during the…

Q: A firm has the following production function: y = f(x) where y is the output and x is the input. If…

A: ANS AP is the amount of output (o/p) per unit of labor. It is given by the following formula: AP =…

Q: 6) If a firm produces 100 units of output and has an average total cost of $6 then what is their…

A: Average total cost refers to total cost divided by a total unit of output produced. It is the sum of…

Q: Total Marginal Cost (using total cost) Quantity Variable Marginal Cost Cost Cost (using variable…

A: Fixed cost of production is that portion or part of firm's costs which remains same at each level of…

Q: Suppose a firm has the following production function  Q = f(K,L) = (1/2)L(2/3)K(1/3) and a total…

A: Production and cost function: The production function determines all the input bundles that produce…

Q: After running a successful pineapple business, Diddy looks for a new business venture. Now he wants…

A: Step 1: Step 2:Thank you Step 3: Step 4:

Q: I need all parts of the question answered, thank you.

A: Question is solved below Explanation:

Q: (b) [2] For the production technology in this question and the initial point r1 = 10 and a2 = 20,…

A: In the above question, it is given that : Production Function: f(x1, x2) = min(2x1, x2) Producing…