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SHOW ALL CALCULATIONS AND EXPLANATIONS! 6. Draw the expansion path for Q(K 12 L 12) given...
Using the production function Q = (
and output levels of Q=2, Q=4, Q=6
A). Suppose the price of L and K is $3/hr. On a graph show
isocost lines corresponding to total costs of $12, $24, and $36.
Using isoquants and isocost lines, locate three points on the
expansion path and draw the expansion path. Show your
calculations.
B). Using the three points on the expansion path, calculate the
firm's long run total and average costs at each of...
Show and explain all calculations. Draw graphs whenever
necessary. Provide economic reasoning.
4. The production technology of a firm is described by a production function Q=L+2K where L represents the number of labor hours and K the number of machine hours used in the production process. The hourly wage and rental rates are given by w and r. Calculate the total cost function for the firm when both L and K are variable inputs. (Hint: A graph may be helpful.)
Cheburashka uses kiwi fruits (K) and labour (L) to produce juice (q). His production function 1S: where labour is measured in hours, kiwi fruits in kg, and juice in (large) bottles. For example, if he uses 1 kg of kiwi fruits and 3 hours of labour, he can produce 1 bottle of juice a) Draw isoquants for q, q 2 and q 3 on a diagram with labour on horizontal axis and kiwi fruits on vertical b) Let the price...
8. For which of the following production functions could the long-run expansion path be vertical assuming w=r? (Assume, per usual, that K is on the y-axis and L is on the x-axis.) a. Q = V1 + 2K b. Q = 2L + VK c. Q = min (L, 2K) d. Q = 2L+K e. Q = /1/4K3/4
10 pt 2 Assume a production function exists and is Q = (K^.25 L^.75) let a firm have a total of $1,100 to spend on labor and capital. Let price of labor equal $5 and price of capital equals $10 1) calculate the optimal values of Q, and the new isoquants and plot the LR expansion path. 2) Keeping K at 25, and letting L vary, plot the SR expansion path and the TPL curve
W= Continuing to use the three production functions: q = h(K, L) = K(1/3) [(1/3), q=g(K, L) = min{įK, L}, and q = = f(K, L) = K (1/4) L (3/4). (h) (6 points) What is the Long Run Cost curve for each of these when r = $4 and $16? (i) (6 points) What are the Long Run Average Cost here? How about the Marginal Cost? (j) (4 points) Provide a convincing argument that a firm using with h(K,...
Suppose that a companies production function is given by: f(L;K) = (10K^3L^2)/(L+K) a) Does this production function exhibit increasing, constant, or decreasing returns to scale? Algebraically justify your answer. b) If there is a wage of 10 and a rental rate of capital of 1, then find the company's expansion path.
Please with details and explanations
The layout of a CMOS complex logic circuit is given in the Figure 1. 4. (10 Marks) Draw the corresponding circuit diagram; and cdlculate the (equivaent of all the nMOS and PMOS transistors for simultaneous switching of all the inputs, assuming that (W/L)p = 15 for all pMOS transistors and (w/2), a. 5 for all nMOS (10 Marks) transistors Vdd PMOS IL NMOS Figure 1
The layout of a CMOS complex logic circuit is given...
A monopolist has a production function 27 (L-2)(K+1) Q(L,K) where L, Kis the amount of labor and capital. The wage rate is denoted by w and the rental rate of capital is denoted by r. The inverse demand function the monopolist is faced with is given by P = 12- 3Q where P is the market price and Q is the quantity sold. 13. Write down the optimization problem of the monopolist. 14. Write down the first order condition(s) 15....
W= Continuing to use the three production functions: q = h(KL) K(1/3) L(1/3) q = g(K, L) = min{:K, L}, and q = f(K, L) = K (1/4)(3/4). (h) (6 points) What is the Long Run Cost curve for each of these when r = $4 and $16? (i) (6 points) What are the Long Run Average Cost here? How about the Marginal Cost? (j) (4 points) Provide a convincing argument that a firm using with h(K, L) or 9(K,...