Homework Answers
4) a)
TC= 48Q-56Q^2+7Q^3
MC= 48-112Q+21Q^2
b) AC=TC/Q
=48Q-56Q^2+7Q^3
=48-56Q+7Q^2
Add Answer to:
соmрталото 3. The processing of online orders can be done using hours of robot time (denoted...
For Firm B robots and engineers are perfect substitutes.Each robot can work K hours on its own. Alterna ely, each engineer can work L hours on her own. Because robots are not subject to fatigue,...
For Firm B robots and engineers are perfect substitutes.Each robot can work K hours on its own. Alterna ely, each engineer can work L hours on her own. Because robots are not subject to fatigue, a robot produces twice the amount an engineer produces in an hour ii. Which of the following three production functions captures the fact that "a robot produces twice the amount an engineer produces in an hour"? Explain (in a few lines) why you believe your...
A firm has a production function q = KL, where q is the quantity of output,...
A firm has a production function q = KL, where q is the quantity of output, K is the amount of capital and L is the amount of labor. a) Does this production function exhibit increasing, decreasing or constant returns to scale? b) Does the long-run cost function exhibit economies of scale or diseconomies of scale? c) Is the LR Average Cost curve increasing or decreasing with q?
4 Alumni dengan selama ini Tele--en onder mense 4. A firm's long-run total cost curve is...
4 Alumni dengan selama ini Tele--en onder mense 4. A firm's long-run total cost curve is TCQ)= 40 Q-10Q' + Overwh output does the production function exhibit economies of scale? Over what range does it exhibit diseconomies of scale? At what quantity is minimum efficient scale?
4. A company produces economic analysis reports using hours of labor (L) and computers (K). The...
4. A company produces economic analysis reports using hours of labor (L) and computers (K). The production function is ? = 2?√? Initially, in the short run, they have just 1 computer (K = 1). The wage is $20 per hour, and the cost of capital is $10. a. Derive short run total cost and short run average costs curves, with costs as a function of q. Do these costs curves exhibit economies or diseconomies of scale? Explain. (5) b....
Let the production function be as follow: 2. L0.7 K.3 q(L, K) Also assume w 2 and r=4 Find out if we have increasing...
Let the production function be as follow: 2. L0.7 K.3 q(L, K) Also assume w 2 and r=4 Find out if we have increasing, decreasing or constant return to scale. a. Derive the long-run cost function. TC(q) b. Derive the average cost curve. Is it increasing or decreasing or constant in q? С. Let the production function be as follow: 3. q(L, K) LK3 Also assume w-4 and r=3 Find out if we have increasing, decreasing or constant return to...
5. A firm produces widgets with production function: q-2vKL. In the short run, the firm's amount...
5. A firm produces widgets with production function: q-2vKL. In the short run, the firm's amount of capital is fixed at K = 100. The rental rate is v = 1 and the wage for L is w= 4. (a) Find the firm's short-run total cost curve (SRTC), short-run average cost curve (SRAC), and the short-run marginal cost (SMC) function. (b) Graph the firm's SAC and SMC using the following levels of production: q 25 and q= 100. (c) Find...
a. Suppose that a firm has the Cobb-Douglas production function = 12K0.75 0.25. Because this function...
a. Suppose that a firm has the Cobb-Douglas production function = 12K0.75 0.25. Because this function exhibits returns to scale, the long-run average cost curve is , whereas the long-run total cost curve is upward-sloping, with slope. b. Now suppose that the firm's production function is = KL. Because this function exhibits returns to scale, the long-run average cost curve is upward-sloping , whereas the long-run total cost curve is upward-sloping, with slope. a. Suppose that a firm has the...
2. Consider a firm producing pizza with production function q = KL, that faces input prices...
2. Consider a firm producing pizza with production function q = KL, that faces input prices w= $10 and r = $100 for labor and capital, respectively. a. Derive the isoquant equation. Find the isoquant of an output q = 1. Draw it in a figure with l in the horizontal axis and k in the vertical axis. b. Does this firm's production exhibit increasing, decreasing or constant returns to scale? Briefly explain c. Find the labor demand, and the...
9. Suppose the firm's production function is given by f(K,L) min (K",L" (a) For what values...
9. Suppose the firm's production function is given by f(K,L) min (K",L" (a) For what values of a will the firm exhibit decreasing returns to scale? Constant returns to scale? Increasing returns to scale? (b) Derive the long-run cost function and the optimal input choices. (c) Suppose the capital is fixed at R = 10,000 and a =. Assuming that the firm wants to produce less than 100 units, derive 10. Consider the production function: f(K, L) = KLi. Let...
9. Suppose the firm's production function is given by f(K,L) = min (Kº,L"} (a) For what values of a will the firm e...
9. Suppose the firm's production function is given by f(K,L) = min (Kº,L"} (a) For what values of a will the firm exhibit decreasing returns to scale? Constant returns to scale? Increasing returns to scale? (b) Derive the long-run cost function and the optimal input choices. (c) Suppose the capital is fixed at K = 10,000 and a = 1. Assuming that the firm wants to produce less than 100 units, derive 10. Consider the production function: f(K,L)=KLI. Let w...
For Firm B robots and engineers are perfect substitutes.Each robot can work K hours on its own. Alterna ely, each engineer can work L hours on her own. Because robots are not subject to fatigue, a robot produces twice the amount an engineer produces in an hour ii. Which of the following three production functions captures the fact that "a robot produces twice the amount an engineer produces in an hour"? Explain (in a few lines) why you believe your...
4 Alumni dengan selama ini Tele--en onder mense 4. A firm's long-run total cost curve is TCQ)= 40 Q-10Q' + Overwh output does the production function exhibit economies of scale? Over what range does it exhibit diseconomies of scale? At what quantity is minimum efficient scale?
Let the production function be as follow: 2. L0.7 K.3 q(L, K) Also assume w 2 and r=4 Find out if we have increasing, decreasing or constant return to scale. a. Derive the long-run cost function. TC(q) b. Derive the average cost curve. Is it increasing or decreasing or constant in q? С. Let the production function be as follow: 3. q(L, K) LK3 Also assume w-4 and r=3 Find out if we have increasing, decreasing or constant return to...
5. A firm produces widgets with production function: q-2vKL. In the short run, the firm's amount of capital is fixed at K = 100. The rental rate is v = 1 and the wage for L is w= 4. (a) Find the firm's short-run total cost curve (SRTC), short-run average cost curve (SRAC), and the short-run marginal cost (SMC) function. (b) Graph the firm's SAC and SMC using the following levels of production: q 25 and q= 100. (c) Find...
a. Suppose that a firm has the Cobb-Douglas production function = 12K0.75 0.25. Because this function exhibits returns to scale, the long-run average cost curve is , whereas the long-run total cost curve is upward-sloping, with slope. b. Now suppose that the firm's production function is = KL. Because this function exhibits returns to scale, the long-run average cost curve is upward-sloping , whereas the long-run total cost curve is upward-sloping, with slope. a. Suppose that a firm has the...
2. Consider a firm producing pizza with production function q = KL, that faces input prices w= $10 and r = $100 for labor and capital, respectively. a. Derive the isoquant equation. Find the isoquant of an output q = 1. Draw it in a figure with l in the horizontal axis and k in the vertical axis. b. Does this firm's production exhibit increasing, decreasing or constant returns to scale? Briefly explain c. Find the labor demand, and the...
9. Suppose the firm's production function is given by f(K,L) min (K",L" (a) For what values of a will the firm exhibit decreasing returns to scale? Constant returns to scale? Increasing returns to scale? (b) Derive the long-run cost function and the optimal input choices. (c) Suppose the capital is fixed at R = 10,000 and a =. Assuming that the firm wants to produce less than 100 units, derive 10. Consider the production function: f(K, L) = KLi. Let...
9. Suppose the firm's production function is given by f(K,L) = min (Kº,L"} (a) For what values of a will the firm exhibit decreasing returns to scale? Constant returns to scale? Increasing returns to scale? (b) Derive the long-run cost function and the optimal input choices. (c) Suppose the capital is fixed at K = 10,000 and a = 1. Assuming that the firm wants to produce less than 100 units, derive 10. Consider the production function: f(K,L)=KLI. Let w...
Most questions answered within 3 hours.
-
please don't use the p value method instead use the "5 steps of
hypothesis testing." Or...
asked 3 minutes ago -
It is said that Galileo discovered a basic principle of the
pendulum—that the period is independent...
asked 9 minutes ago -
The Cost of Equity and
Flotation Costs
Messman Manufacturing
will issue common stock to the public...
asked 16 minutes ago -
a) summarize the challenges facing New Britain today
b) identify some of its strengths
c) suggest...
asked 18 minutes ago -
**86 at 40 not 88. please show how got Tr in calculations thank
you
2) The...
asked 18 minutes ago -
McGlaun Company pays its employees every two weeks. The firm
last paid its employees on September...
asked 32 minutes ago -
You have been gifted a Mogwai as a pet and decide to do a little
online...
asked 37 minutes ago -
given the standard of 200 mg/dl and the absorbance of that
standard is 0.640. What is...
asked 39 minutes ago -
Exercise 8-51 Algo
An accounting professor is notorious for being stingy in giving
out good letter...
asked 47 minutes ago -
month
total distribution cost
level of activity (unit produced)
july
230.000
3500
august
250.000
3750
september...
asked 49 minutes ago -
A smoke detector system uses two devices, A and B. If smoke is
present, the probability...
asked 1 hour ago -
Your division head has assigned another important project to you
and your team. This project is...
asked 1 hour ago