EBK INTERMEDIATE MICROECONOMICS AND ITS
12th Edition
ISBN: 9781305176386
Author: Snyder
Publisher: YUZU
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Question
Chapter 6, Problem 6.2P
a.
To determine
To calculate: Labor required to produce 100 Frisbees per hour, when capital input is fixed at 10 per hour.
b.
To determine
To calculate: Labor required to produce 100 Frisbees per hour, when capital input is fixed at 25 per hour.
c.
To determine
To draw: Isoquants at output of100 frisbees, indicating points of sub-part a and b and determination of rate of substitution along the isoquants with reason for it being constant.
d.
To determine
To draw: Isoquants at output of 50 frisbees and 100 frisbees, stating the shape of entire isoquant map.
e.
To determine
To evaluate: Sub parts (a) to sub part (d) with new production function.
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Frisbees are produced according to the production function q = 2K+Lwhere q =output of frisbees per hour, K =capital input per hour, L =labor input per hour.
a) If K = 10, how much L is needed to produce 100 frisbees per hour? b) If K = 25, how much L is needed to produce 100 frisbees per hour?
c) Graph the q = 100 isoquant. Indicate the points on that isoquantd defined in part a and part b. What is the RTS along this isoquant? Explain why the RTS is the same at every point on the isoquant.
The production function for hamburgers can be written as q = 0.1X + 0.1Y, where X is Canadian ground beef and Y is U.S. beef, both measured in pounds. Which graph in the figure best represents the isoquants for the hamburger production when U.S. ground beef is on the vertical axis and Canadian ground beef is on the horizontal axis?
A firm has the production function f(X, Y) = x²/2 y1/2, where X is the amount of factor x used and Y is the amount of factor y used. On a diagram
we put X on the horizontal axis and Y on the vertical axis. We draw some isoquants. Now we draw a straight line on the graph and we notice
that wherever this line meets an isoquant, the isoquant has a slope of -3. The straight line we drew
Select one:
O a. is vertical.
b. is horizontal.
c. is a ray through the origin with slope 3.
d. is a ray through the origin with slope 4.
O e. has a negative slope.
Chapter 6 Solutions
EBK INTERMEDIATE MICROECONOMICS AND ITS
Ch. 6.2 - Prob. 1TTACh. 6.2 - Prob. 2TTACh. 6.2 - Prob. 1MQCh. 6.2 - Prob. 2MQCh. 6.3 - Prob. 1TTACh. 6.3 - Prob. 2TTACh. 6.3 - Prob. 1MQCh. 6.3 - Prob. 2MQCh. 6.4 - Prob. 1TTACh. 6.4 - Prob. 2TTA
Ch. 6.5 - Prob. 1MQCh. 6.5 - Prob. 2MQCh. 6.5 - Prob. 3MQCh. 6.6 - Prob. 1TTACh. 6.6 - Prob. 2TTACh. 6.7 - Prob. 1MQCh. 6.7 - Prob. 2MQCh. 6.7 - Prob. 3MQCh. 6.7 - Prob. 4MQCh. 6 - Prob. 1RQCh. 6 - Prob. 2RQCh. 6 - Prob. 3RQCh. 6 - Prob. 4RQCh. 6 - Prob. 5RQCh. 6 - Prob. 6RQCh. 6 - Prob. 7RQCh. 6 - Prob. 8RQCh. 6 - Prob. 9RQCh. 6 - Prob. 10RQCh. 6 - Prob. 6.1PCh. 6 - Prob. 6.2PCh. 6 - Prob. 6.3PCh. 6 - Prob. 6.4PCh. 6 - Prob. 6.5PCh. 6 - Prob. 6.6PCh. 6 - Prob. 6.7PCh. 6 - Prob. 6.8PCh. 6 - Prob. 6.9PCh. 6 - Prob. 6.10P
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