Now suppose that q = L"K". Starting by multiplying the inputs in production by D >...
Let the production function be q=ALK. The function exhibits increasing returns to scale if O A. a + b < 1 O B. a + b > 1 OC. a + b = 1 O D. Cannot be determined with the information given
Question 7 Consider the following production function: Q=AL' K• Assume A > 0. Further assume 0 <a <1, and 0 <b<1. 1. What is the Marginal Product of Labor (MPL)? Is it diminishing as L increases? What is the Marginal Product of Capital (MPK)? Is it diminishing as K increases? 2. What is the Average Product of Labor (APL)? What is the Average Product of Capital (AP)? 3. What is the TRSL,K? Is the absolute value of TRSL K diminishing...
Consider the problem of maximizing profits for the production function of the form f(x) =xa where a > 0. State the first and second order conditions and solve for factor demand function, supply function and profit function 9.
Mara's analytics firm, Python and Potato, has the following Cobb-Douglas production function: q K"L® where a, ß> 0. Mara can purchase all the K and L she wants in competitive input markets at input costs of v and w, respectively a) Solve for Mara's cost-minimizing values of K and L b) Derive Mara's long-run total cost function c) Calculate his MC
(a) Is the MC irreducible?
(b) For which values of p the Markov Chain is reversible?
6. Define a Markov Chain on S-10,1,2,3,...) with transition probabilities Po,1 pi,i+1 1 -pi,i-1 = p, i i>1 1 = with 0<p<
Question 5 (20 marks) (a) i) A firm has production function y - f(x,z) -ax+Bz, for y 2 0, where y is output, and x, z the factors of production. Are the returns to scale constant, increasing or decreasing? Explain your answer. (3 marks) ii) Consider the production function: f(x1,2)2 where a is a positive parame- ter. Indicate for which values of a the returns to scale in production are increasing Explain your answer. (3 marks) iii) A firm has...
Please provide the work to replicate this problem with any D
inputs and any Q combinations, please.
Describe what this circuit does. Clk > Counter Load Count aaaa
Show the starting diene and dienophile you could use to prepare the following molecule: Diene Dienophile>
8. Find the marginal-product functions for the Cobb-Douglas production func- tion y = A.X. XXX A>0,0<«; <1 for i = 1, 2, 3, 4
Gainesville airline's production function is given by a Cobb-Douglas form: Y = AL"K,a.B>0 where: Y =number of passengers carried per year A coefficient L number of pilots (labor) K number of aircraft (capital) Suppose that the annual wage for each pilot is p, and the "price" of each aircraft (amortized annual cost) is p 1. Derive the output cost function for the Gainesville airline 2. Calculate the average and marginal cost functions, and discuss the condition when economies of scale...