Homework Answers
Ans) the correct option is c) TC3
Labor = 1000/200 = 5
Capital = 1000/100 = 10
So Y intercept and X intercept of total cost are 10 and 5 respectively.
Add Answer to:
A. TC1
B. TC2
C. TC3
D. TC4
Suppose a firm spends $1,000 per day producing...
Suppose a firm spends $1,000 per day producing scooters. The wage (w) rate per worker (L)...
Suppose a firm spends $1,000 per day producing scooters. The wage (w) rate per worker (L) is $200 per day and rental rate (r) per unit of capital (K) is $100 per day. The firm's isocost line at the current expenditure level is represented by: 20 19 TC1 18 17 16 15 14 13 12 11 K 10 TC3 9 8 7 6 5 4 3 TC4 TC2 TC1 у 10 TC3 8 7 6. 5 4 TC4 TC2 2...
A. L=25; K=16 B. L=40; K=10 C. L=16; K=25 D. L=10; K=40 E. L=20; K=20 =...
A. L=25; K=16
B. L=40; K=10
C. L=16; K=25
D. L=10; K=40
E. L=20; K=20
= VE Lulu owns a firm that produces leggings. The production function is given by Q=2VKVL, so that MPL K and MPK = Q is Lulu's VL VK output, K is capital, L is labor, and MP is the marginal product. The wage (w)rate per worker (L) is $40 per day and rental rate (r) per unit of capital (K) is $10 per day. How...
dont need a big answer . Lulu owns a firm that produces leggings. The production function...
dont need a big answer
. Lulu owns a firm that produces leggings. The production function is given by Q = 2VKVL, so that MPL VK Vī VI and MPK Q is Lulu's VK output, K is capital, Lis labor, and MP is the marginal product. The wage (w) rate per worker (L) is $40 per day and rental rate (r) per unit of capital (K) is $10 per day. Lulu currently hires 4 workers and rents 9 machines to...
A. L=3; K=6 B. L=10; K=6 C. L=7; K=9 D. L=8; K=7 The graph below shows...
A. L=3; K=6
B. L=10; K=6
C. L=7; K=9
D. L=8; K=7
The graph below shows a firm's isoquants and isocosts. The firm is initially producing Q=20 with the cost minimizing combination of K and L, where Q is output, Kis capital and L is labor. Suppose the owner decides to expand production to Q=40. However, he signed a lease on the capital necessary to produce Q=20, which he cannot get out of in the short run. In order to...
The graph below shows a firm's isoquants and isocosts. The firm is initially producing Q-20 with...
The graph below shows a firm's isoquants and isocosts. The firm is initially producing Q-20 with the cost minimizing combination of K and L, where Q is output, Kis capital and Lis labor. Suppose the owner decides to expand production to Q=40. However, he signed a lease on the capital necessary to produce Q=20, which he cannot get out of in the short run. Are the short run total costs of producing Q-40 smaller or larger than the long run...
The graph below shows a firm's isoquants and isocosts. The firm is initially producing Q=20 with...
The graph below shows a firm's isoquants and isocosts. The firm is initially producing Q=20 with the cost minimizing combination of K and L, where Q is output, Kis capital and L is labor. Suppose the owner decides to expand production to Q=40. However, he signed a lease on the capital necessary to produce Q=20, which he cannot get out of in the short run. Are the short run total costs of producing Q=40 smaller or larger than the long...
For the following functions, determine minimal SOP realizations: i. F(a, b, c, d) = ∑ (0,...
For the following functions, determine minimal SOP realizations: i. F(a, b, c, d) = ∑ (0, 1, 4, 12, 14, 15) j. F(a, b, c, d) = ∑ (1, 3, 4, 5, 6, 7, 9, 11, 13, 15) k. F(a, b, c, d) = ∑ (0, 2, 6, 8, 9, 10, 11, 14) l. F(a, b, c, d) = ∑ (5, 7, 9, 11, 13, 15)
Find the following using the table given below: (a) R2 (b) Standard Error for table (c)...
Find the following using the table given below: (a) R2 (b) Standard Error for table (c) For both independent variables find coefficient value and the significance of the linear relationship with the dependent variable (d) Interpret the y-intercept of the table NOTE: Wage is dependent, and Education and Experience are Independent. Education Experience Wage 8 21 5.1 9 42 4.95 12 1 6.67 12 4 4 12 17 7.5 13 9 13.07 10 27 4.45 12 9 19.47 16 11...
Lulu currently hires 4 workers and rents 9 machines to produce 12 leggings. Is Lulu minimizing...
Lulu currently hires 4 workers and rents 9 machines to produce
12 leggings. Is Lulu minimizing her costs? How do you know?
Lulu owns a firm that produces leggings. The production function is given by Q = 2VKVL, so that MPL VK VI and MPk = VL Q is Lulu's VK output, K is capital, L is labor, and MP is the marginal product. The wage (w)rate per worker (L) is $40 per day and rental rate (r) per unit...
The graph below shows a firm's isoquants and isocosts. The firm is initially producing Q-20 with...
The graph below shows a firm's isoquants and isocosts. The firm is initially producing Q-20 with the cost minimizing combination of K and L, where Q is output, Kis capital and Lis labor. Suppose the owner decides to expand production to Q=40. However, he signed a lease on the capital necessary to produce Q=20, which he cannot get out of in the short run. Are the short run total costs of producing Q=40 smaller or larger than the long run...
Suppose a firm spends $1,000 per day producing scooters. The wage (w) rate per worker (L) is $200 per day and rental rate (r) per unit of capital (K) is $100 per day. The firm's isocost line at the current expenditure level is represented by: 20 19 TC1 18 17 16 15 14 13 12 11 K 10 TC3 9 8 7 6 5 4 3 TC4 TC2 TC1 у 10 TC3 8 7 6. 5 4 TC4 TC2 2...
A. L=25; K=16
B. L=40; K=10
C. L=16; K=25
D. L=10; K=40
E. L=20; K=20
= VE Lulu owns a firm that produces leggings. The production function is given by Q=2VKVL, so that MPL K and MPK = Q is Lulu's VL VK output, K is capital, L is labor, and MP is the marginal product. The wage (w)rate per worker (L) is $40 per day and rental rate (r) per unit of capital (K) is $10 per day. How...
dont need a big answer
. Lulu owns a firm that produces leggings. The production function is given by Q = 2VKVL, so that MPL VK Vī VI and MPK Q is Lulu's VK output, K is capital, Lis labor, and MP is the marginal product. The wage (w) rate per worker (L) is $40 per day and rental rate (r) per unit of capital (K) is $10 per day. Lulu currently hires 4 workers and rents 9 machines to...
A. L=3; K=6
B. L=10; K=6
C. L=7; K=9
D. L=8; K=7
The graph below shows a firm's isoquants and isocosts. The firm is initially producing Q=20 with the cost minimizing combination of K and L, where Q is output, Kis capital and L is labor. Suppose the owner decides to expand production to Q=40. However, he signed a lease on the capital necessary to produce Q=20, which he cannot get out of in the short run. In order to...
The graph below shows a firm's isoquants and isocosts. The firm is initially producing Q-20 with the cost minimizing combination of K and L, where Q is output, Kis capital and Lis labor. Suppose the owner decides to expand production to Q=40. However, he signed a lease on the capital necessary to produce Q=20, which he cannot get out of in the short run. Are the short run total costs of producing Q-40 smaller or larger than the long run...
The graph below shows a firm's isoquants and isocosts. The firm is initially producing Q=20 with the cost minimizing combination of K and L, where Q is output, Kis capital and L is labor. Suppose the owner decides to expand production to Q=40. However, he signed a lease on the capital necessary to produce Q=20, which he cannot get out of in the short run. Are the short run total costs of producing Q=40 smaller or larger than the long...
Lulu currently hires 4 workers and rents 9 machines to produce
12 leggings. Is Lulu minimizing her costs? How do you know?
Lulu owns a firm that produces leggings. The production function is given by Q = 2VKVL, so that MPL VK VI and MPk = VL Q is Lulu's VK output, K is capital, L is labor, and MP is the marginal product. The wage (w)rate per worker (L) is $40 per day and rental rate (r) per unit...
The graph below shows a firm's isoquants and isocosts. The firm is initially producing Q-20 with the cost minimizing combination of K and L, where Q is output, Kis capital and Lis labor. Suppose the owner decides to expand production to Q=40. However, he signed a lease on the capital necessary to produce Q=20, which he cannot get out of in the short run. Are the short run total costs of producing Q=40 smaller or larger than the long run...
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