Suppose that the following production fnction is given: Q-4KL For the above production function, find the elasticity of substitution? Find the Retuns to Scale.

Calculate the elasticity of substitution for the production function

.2. Tiva has a crafts store that makes jewelry using beads (B) and copper (C). Her productionfunction for jewelry is given byQ = B0.4C0.4Suppose she can buy beads and copper at prices PB and PC, respectively.(a) Calculate Tiva’s marginal rate of technical substitution between B and C.(b) Does this production function have increasing, constant, or decreasing returns to scale?Explain. (c) Set up the cost minimization problem you would use to calculate Tiva’s cost functionC(Q) in Lagrangian form. (Note: You do not need to solve it or derive first orderconditions.Suppose Tiva decides to branch out in her jewelry offerings by getting a 3D printer. The costof producing new 3D printed jewelry isC(Q) = 25 + Q24For the rest of this problem, assume Tiva can produce fractions of jewelry, don’t worry aboutrestricting your answers to whole numbers.(d) Compute Tiva’s marginal cost and average cost of production for 3d printed jewelry.(e) Explain why she will shut down when the market price falls…

For 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

A firm has the production function f(x, y) = 20x1/5 y4/5. The slope of the firm's isoquant at the point (x, y) = (20, 40) is (pick the closest one) Select one: а. -3. b. -0.50. О с. -1.50. O d. -0.6. e. -0.25.

a. Isoquants can be convex, linear, or L-shaped. What does each of these shapes tell you about the nature of the production function? What does each of these shapes tell you about the MRTS?

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).

Consider the followng production function: 1 2 9 = x?x where x, and x, measure the employed quantities of input #1 and input #2, respectively. (a) Solve for and graph this firm's isoquant at q isoquant. 10. Please label three points along this (b) Does this production function exhibit increasing, decreasing, or constant returns to scale? Explain. Please corroborate your answer using a set of isoquants when the quantity of both imputs gets doubled. Note: Be sure to plot x2 along the y-axis.

What is the parameter in the production function in the following equation? F(K,N)=K N' ® OA. N O B. F OC. K OD. a

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).