Can you please show your work
for the derivative part? It has been a while. Thank you :)
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Can you please show your work
for the derivative part? It has been a while. Thank...
2. Consider the following production function with two inputs X1 and X2. y = x1/2x2/4 a....
2. Consider the following production function with two inputs X1 and X2. y = x1/2x2/4 a. Derive the equation for an isoquant (assuming X2 is on the y-axis). b. Derive the marginal product of input x1. c. Derive the marginal product of input x2. d. Derive the marginal rate pf technical substitution (MRTS).
I'm begging you. Please please please please show your work. Whenever I ask I never get...
I'm begging you. Please please
please please show your work. Whenever I ask I never get work shown
and I never understand what to do. Please show your work.
1. Consider the following production function with two inputs X1 and X2. y = xqx4 a. Derive the equation for an isoquant (assuming x2 is on the y-axis). b. Derive the marginal product of input X1. c. Derive the marginal product of input x2. d. Derive the marginal rate of technical...
3. Consider the following production function with two inputs X1 and x2. y = alnx +...
3. Consider the following production function with two inputs X1 and x2. y = alnx + Blny a. Derive the equation for an isoquant (assuming x is on the y-axis). b. Derive the marginal product of input x. c. Derive the marginal product of input x. d. Derive the marginal rate pf technical substitution (MRTS).
14. Answer the following questions based on the following production function: f(xi,x2)-240x11x212. Please show how you...
14. Answer the following questions based on the following production function: f(xi,x2)-240x11x212. Please show how you found your answer a) b) y Find the isoquant for any given output level. (5 Points) If output is equal to 4,320 and input 1 is equal to 27, how much input 2 do you need? (6 Points) Calculate the marginal rate of technical substitution (MRTS) in terms of inputs by taking the derivative of the isoquant you found in part a. (10 Points)...
TUTORIAL2 Chapter 7 Part 1 Key Concepts and Equations: Production Isoquant: shows all combinations of input...
TUTORIAL2 Chapter 7 Part 1 Key Concepts and Equations: Production Isoquant: shows all combinations of input quantities that yield the same level of output. Higher isoquant: higher level of output Marginal Rate of Technical Substitution: MRTS is the slope of the isoquant at any input combination. It tells us the rate at which we must increase the qty of input 2 per unit decrease in qty of input 1. MRTS diminishes as we move down the isoquant from left to...
TUTORIAL2 Chapter 7 Part 1 Key Concepts and Equations: Production Isoquant: shows all combinations of input...
TUTORIAL2 Chapter 7 Part 1 Key Concepts and Equations: Production Isoquant: shows all combinations of input quantities that yield the same level of output. Higher isoquant: higher level of output Marginal Rate of Technical Substitution: MRTS is the slope of the isoquant at any input combination. It tells us the rate at which we must increase the qty of input 2 per unit decrease in qty of input 1. MRTS diminishes as we move down the isoquant from left to...
Problem 4: A firm has the following production function: Xi , X2)=X1 , X2 A) Does this firm's tec...
Problem 4: A firm has the following production function: Xi , X2)=X1 , X2 A) Does this firm's technology exhibit constant, increasing, or decreasing returns to scale? B) What is the firm's Technical Rate of Substitution? What is the optimality condition that determines the firm's optimal level of inputs? C) Is the marginal product of input 1 increasing, constant, or decreasing in x1. Is the marginal product of input 2 increasing, constant, or decreasing in x2? D) Suppose the firm...
SHOW ALL WORK!!! 2. For the following Cobb-Douglas production function, q=f(L,K) = _0.45 0.7 a. Derive expressions for m...
SHOW ALL WORK!!!
2. For the following Cobb-Douglas production function, q=f(L,K) = _0.45 0.7 a. Derive expressions for marginal product of labor and marginal product of capital, MP, and MPK. b. Derive the expression for marginal rate of technical substitution, MRTS. C. Does this production function display constant, increasing, or decreasing returns to scale? Why? d. By how much would output increase if the firm increased each input by 50%?
Consider the production function given by y = f(L,K) = L^(1/2) K^(1/3) , where y is...
Consider the production function given by y = f(L,K) = L^(1/2) K^(1/3) , where y is the output, L is the labour input, and K is the capital input. (a) Does this exhibit constant, increasing, or decreasing returns to scale? (b) Suppose that the firm employs 9 units of capital, and in the short-run, it cannot change this amount. Then what is the short-run production function? (c) Determine whether the short-run production function exhibits diminishing marginal product of labour. (d)...
TUTORIAL2 Chapter 7 Part 1 Key Concepts and Equations: Production Isoquant: shows all combinations of input...
TUTORIAL2 Chapter 7 Part 1 Key Concepts and Equations: Production Isoquant: shows all combinations of input quantities that yield the same level of output. Higher isoquant: higher level of output Marginal Rate of Technical Substitution: MRTS is the slope of the isoquant at any input combination. It tells us the rate at which we must increase the qty of input 2 per unit decrease in qty of input 1. MRTS diminishes as we move down the isoquant from left to...
2. Consider the following production function with two inputs X1 and X2. y = x1/2x2/4 a. Derive the equation for an isoquant (assuming X2 is on the y-axis). b. Derive the marginal product of input x1. c. Derive the marginal product of input x2. d. Derive the marginal rate pf technical substitution (MRTS).
I'm begging you. Please please
please please show your work. Whenever I ask I never get work shown
and I never understand what to do. Please show your work.
1. Consider the following production function with two inputs X1 and X2. y = xqx4 a. Derive the equation for an isoquant (assuming x2 is on the y-axis). b. Derive the marginal product of input X1. c. Derive the marginal product of input x2. d. Derive the marginal rate of technical...
3. Consider the following production function with two inputs X1 and x2. y = alnx + Blny a. Derive the equation for an isoquant (assuming x is on the y-axis). b. Derive the marginal product of input x. c. Derive the marginal product of input x. d. Derive the marginal rate pf technical substitution (MRTS).
14. Answer the following questions based on the following production function: f(xi,x2)-240x11x212. Please show how you found your answer a) b) y Find the isoquant for any given output level. (5 Points) If output is equal to 4,320 and input 1 is equal to 27, how much input 2 do you need? (6 Points) Calculate the marginal rate of technical substitution (MRTS) in terms of inputs by taking the derivative of the isoquant you found in part a. (10 Points)...
TUTORIAL2 Chapter 7 Part 1 Key Concepts and Equations: Production Isoquant: shows all combinations of input quantities that yield the same level of output. Higher isoquant: higher level of output Marginal Rate of Technical Substitution: MRTS is the slope of the isoquant at any input combination. It tells us the rate at which we must increase the qty of input 2 per unit decrease in qty of input 1. MRTS diminishes as we move down the isoquant from left to...
TUTORIAL2 Chapter 7 Part 1 Key Concepts and Equations: Production Isoquant: shows all combinations of input quantities that yield the same level of output. Higher isoquant: higher level of output Marginal Rate of Technical Substitution: MRTS is the slope of the isoquant at any input combination. It tells us the rate at which we must increase the qty of input 2 per unit decrease in qty of input 1. MRTS diminishes as we move down the isoquant from left to...
Problem 4: A firm has the following production function: Xi , X2)=X1 , X2 A) Does this firm's technology exhibit constant, increasing, or decreasing returns to scale? B) What is the firm's Technical Rate of Substitution? What is the optimality condition that determines the firm's optimal level of inputs? C) Is the marginal product of input 1 increasing, constant, or decreasing in x1. Is the marginal product of input 2 increasing, constant, or decreasing in x2? D) Suppose the firm...
SHOW ALL WORK!!!
2. For the following Cobb-Douglas production function, q=f(L,K) = _0.45 0.7 a. Derive expressions for marginal product of labor and marginal product of capital, MP, and MPK. b. Derive the expression for marginal rate of technical substitution, MRTS. C. Does this production function display constant, increasing, or decreasing returns to scale? Why? d. By how much would output increase if the firm increased each input by 50%?
TUTORIAL2 Chapter 7 Part 1 Key Concepts and Equations: Production Isoquant: shows all combinations of input quantities that yield the same level of output. Higher isoquant: higher level of output Marginal Rate of Technical Substitution: MRTS is the slope of the isoquant at any input combination. It tells us the rate at which we must increase the qty of input 2 per unit decrease in qty of input 1. MRTS diminishes as we move down the isoquant from left to...
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