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Please help me with this question, thank you so much!
For each of the two production...
Please help me with this question, thank you very much! 1. Find the cost minimizing amount...
Please help me with this question, thank you very much!
1. Find the cost minimizing amount of L and K to produce 60
units of output when w=1 and r=2.
2. Using the results from question 1, if the price of Q is
$10/unit, calculate your profits froproducing 60 units.
Q = 30L-3L2 + 60K-3K2
Please help me! Thank you! Suppose that a firm had a production function given by: q-L...
Please help me! Thank you!
Suppose that a firm had a production function given by: q-L K. The wage rate (w) is $10 and the rental rate (r) is $10 Calculate the amount of labor the firm would hire when t produces 200 units of output in a cost-minimizing way. .25, 0.75 (Round to the nearest 2 decimal places if necessary.) Answer: Check
Suppose a good is produced according to the following production function: Q = L1/2K1/2 so...
Suppose a good is produced according to the following production function: Q = L1/2K1/2 so that the marginal product of labor and capital are MPL = (1/2)(K/L)1/2 MPK = (1/2)(L/K)1/2 If w = $8 and r = $4, determine the necessary conditions for the input choices, K and E to be cost-minimizing. In other words, what is the cost-minimizing ratio of K to E for this firm? Your answer will be in the form of 2L: 5K. You...
Hi Can you please help me to do this. I have tried doing MPL/PL=PMK/PK but I...
Hi Can you please help me to do this. I have tried doing MPL/PL=PMK/PK but I could not get the same answers . I don't know whether it is my math or if I have the wrong formula to LCCI (Least Cost Combination) Thank you . 1. A firm produces according to the following production function: Q = K0.25L0.5 . Suppose that the price of K is $4 per unit, and the price of L is $6 per unit. When...
Can someone help me please please Cost minimization For the production fuction is given by f(l, k...
can someone help me please please Cost minimization For the production fuction is given by f(l, k) = √ l + √ k, where l is the quantity of labor and k is the quantity of capital, suppose that input prices are (w, r) >> 0, where w is the wage rate (price of a unit of labor) and r is the interest rate (price of a unit of capital). Suppose the firm must produce y > 0 units of...
Can someone help me please please Cost minimization For the production fuction is given by f(l, k...
can someone help me please please Cost minimization For the production fuction is given by f(l, k) = √ l + √ k, where l is the quantity of labor and k is the quantity of capital, suppose that input prices are (w, r) >> 0, where w is the wage rate (price of a unit of labor) and r is the interest rate (price of a unit of capital). Suppose the firm must produce y > 0 units of...
Please help! Show all work and label answers clearly please! Thank you! 2. (12 total points,...
Please help! Show all work and label answers clearly please!
Thank you!
2. (12 total points, Suppose a firm can use either Capital (K) or Labor (L) in a production process. The firm's production function is given by Q = 5L + 15K. The price of Capital is $20 per unit and the price of Labor is $8 per unit. a) (4 points) What is the firm's Total Cost function? TC(Q) = b) (8 points) Suppose the firm is producing...
5. Suppose that your production function is q = K + L. If the firm is able to buy all the capital and labor it wants at...
5. Suppose that your production function is q = K + L. If the firm is able to buy all the capital and labor it wants at r = $2 and w $3, what is the firm's cost function? 2q 5q 2K a. b. C. d. 3L 3L+ 2K e.
5. Suppose that your production function is q = K + L. If the firm is able to buy all the capital and labor it wants at r = $2...
Please answer Question F, G, H Green is looking to establish a new market producing energy...
Please answer Question F, G, H Green is looking to establish a new market producing energy gummy bears. After intensive research Green has found the production function is given by q =75K^1/3*L^2/3, where q is thousands of pounds of energy gummy bears, known as GreenergiesTM, K is capital, L is labor, r is the price of capital, w is the price of labor, and q is per year. a. Find the long-run input demand functions for K and L as...
Please show as much work and offer as much explanation as possible, thank you so much!...
Please show as much work and
offer as much explanation as possible, thank you so much!
2. You are a Storm Trooper recently promoted to replace the commander of the manufacturing division on the Death Star, who was executed by Darth Vader for underperformance. Your division is responsible for the manufacturing of the TIE fighters, whose production function is given by Q=64L1/2K1/2 where L (labor) is in the number of Storm Troopers, and K (capital) is in the number of...
Please help me with this question, thank you very much!
1. Find the cost minimizing amount of L and K to produce 60
units of output when w=1 and r=2.
2. Using the results from question 1, if the price of Q is
$10/unit, calculate your profits froproducing 60 units.
Q = 30L-3L2 + 60K-3K2
Please help me! Thank you!
Suppose that a firm had a production function given by: q-L K. The wage rate (w) is $10 and the rental rate (r) is $10 Calculate the amount of labor the firm would hire when t produces 200 units of output in a cost-minimizing way. .25, 0.75 (Round to the nearest 2 decimal places if necessary.) Answer: Check
Please help! Show all work and label answers clearly please!
Thank you!
2. (12 total points, Suppose a firm can use either Capital (K) or Labor (L) in a production process. The firm's production function is given by Q = 5L + 15K. The price of Capital is $20 per unit and the price of Labor is $8 per unit. a) (4 points) What is the firm's Total Cost function? TC(Q) = b) (8 points) Suppose the firm is producing...
5. Suppose that your production function is q = K + L. If the firm is able to buy all the capital and labor it wants at r = $2 and w $3, what is the firm's cost function? 2q 5q 2K a. b. C. d. 3L 3L+ 2K e.
5. Suppose that your production function is q = K + L. If the firm is able to buy all the capital and labor it wants at r = $2...
Please show as much work and
offer as much explanation as possible, thank you so much!
2. You are a Storm Trooper recently promoted to replace the commander of the manufacturing division on the Death Star, who was executed by Darth Vader for underperformance. Your division is responsible for the manufacturing of the TIE fighters, whose production function is given by Q=64L1/2K1/2 where L (labor) is in the number of Storm Troopers, and K (capital) is in the number of...
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