Please give a detailed step by step explanation for each part. It'll make it much easier...
Please give a detailed step by step explanation for each part. It'll make it much easier to follow the explanation/figure out what's going on.
QUESTION
Consider the production function q=2K(1/2)+2L(1/2)
- Solve for the quantity-constant factor demands.
- What is the cost function for this technology?
- Differentiate the cost function with respect to w. Show that this is the same as the factor demand you solved for in part b.
- Find the marginal and average costs of production. Is the marginal cost of production higher or lower than the average cost of production?
Homework Answers
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Please give a detailed step by step explanation for each part.
It'll make it much easier...
PLEASE SHOW ME HOW THESE PROBLEMS ARE SOLVED STEP BY STEP WITH CLEAR EXPLANATION WOULD BE...
PLEASE SHOW ME HOW THESE PROBLEMS ARE SOLVED
STEP BY STEP WITH CLEAR EXPLANATION WOULD BE HIGHLY
APPRECIATED!
1. For each of the following production functions, decide if (and EXPLAIN why) it describes a constant, increasing or decreasing returns to scale technology (a) f(K,L) = 0.520.8 (b) f(K, L) = 5(VK + 0) 2. Assume that a competitive market is populated by many identical firms producing a homogenous output good. If their common) cost function is c(q) = 36 +249...
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My explanation about these requirements are as follow:- Please i need more ideas to support my...
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Someone please help! If possible can whoever answers give a detailed explanation with the answer so...
Someone please help! If possible can whoever answers give a
detailed explanation with the answer so I can fully understand.
Thank you in advance.
The question is as followed
1.
A. What yearly cash flows are relevant fr this investment
decision? Do not forget the effect of taxes and the initial
investment amount
B. What discount rate should Worldwide Paper Company (WPC) use
to analyze those cash flows? Be prepared to justify your
recommended rate and the assumptions that you...
Please Give a detailed explanation, not just an answer! I am trying to learn I'm a...
Please Give a detailed explanation, not just an answer! I am
trying to learn I'm a UCF student "go knights"!
ECO20023
UCF, Homework 2
Module 2 Homework Q Saved Help Save & Exit Submit A Slmple Model of Productlon Exerclse 1 Mountain Mack spends his time carving fishing lures and duck decoys. If Mountain Mack spends all of his time carving fishing lures he can carve 40 lures in a week. If he spends all of his time carving duck...
multiple part question. please answer and cirlcle solutions! i will rate thumbs up for correct answers...
multiple part question. please answer and cirlcle solutions! i will
rate thumbs up for correct answers
The market for disinfectant is dominated by 2 firms, Lysol and Clorox. The marginal cost (MC) for providing disinfectant is $1 (average cost is also $1), and the consumer form their demand for disinfectant via the following inverse demand equation P-5-Q:. The corresponding marginal revenue curve is: P-5-20 a. If Lysol and Clorox decide to collude, what quantities will be sold in the market...
Hello, this is a Micro Economic problems Could you please be kind enough and solve all of problems with the explanation in detail? Thank you and have a good one! 1. Suppose a firm has market power an...
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usion (24 points) Two firms are playing a repeated Bertrand game infinitely, each with the same marginal cost 100. The market demand function is P-400-Q. The firm who charges the lower price win...
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1) Decreasing returns to scale may occur as increasing the amount of inputs used A) increases...
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PLEASE SHOW ME HOW THESE PROBLEMS ARE SOLVED
STEP BY STEP WITH CLEAR EXPLANATION WOULD BE HIGHLY
APPRECIATED!
1. For each of the following production functions, decide if (and EXPLAIN why) it describes a constant, increasing or decreasing returns to scale technology (a) f(K,L) = 0.520.8 (b) f(K, L) = 5(VK + 0) 2. Assume that a competitive market is populated by many identical firms producing a homogenous output good. If their common) cost function is c(q) = 36 +249...
please provide detailed step by step solution
Microeconomics
Question in Microeconomics
me ULTIPLE CHOICE. Choose the one alternative that best completes the statement or answer the question 1) Which of the following are included in calculating economic costs but not accounting costs? A) costs of capital B) costs of natural resources C) variable costs D) opportunity cost of resources used in providing the product. 2) 2) For many entrepreneurs, starting a new business means leaving an existing job and the...
Someone please help! If possible can whoever answers give a
detailed explanation with the answer so I can fully understand.
Thank you in advance.
The question is as followed
1.
A. What yearly cash flows are relevant fr this investment
decision? Do not forget the effect of taxes and the initial
investment amount
B. What discount rate should Worldwide Paper Company (WPC) use
to analyze those cash flows? Be prepared to justify your
recommended rate and the assumptions that you...
Please Give a detailed explanation, not just an answer! I am
trying to learn I'm a UCF student "go knights"!
ECO20023
UCF, Homework 2
Module 2 Homework Q Saved Help Save & Exit Submit A Slmple Model of Productlon Exerclse 1 Mountain Mack spends his time carving fishing lures and duck decoys. If Mountain Mack spends all of his time carving fishing lures he can carve 40 lures in a week. If he spends all of his time carving duck...
multiple part question. please answer and cirlcle solutions! i will
rate thumbs up for correct answers
The market for disinfectant is dominated by 2 firms, Lysol and Clorox. The marginal cost (MC) for providing disinfectant is $1 (average cost is also $1), and the consumer form their demand for disinfectant via the following inverse demand equation P-5-Q:. The corresponding marginal revenue curve is: P-5-20 a. If Lysol and Clorox decide to collude, what quantities will be sold in the market...
Hello, this is a Micro Economic problems Could you please be kind enough and solve all of problems with the explanation in detail? Thank you and have a good one! 1. Suppose a firm has market power and faces a downward sloping demand curve for its product, and its marginal cost curve is upward sloping. If the firm reduces its price, then: A) consumer and producer surplus must increase. B) consumer surplus increases, producer surplus may increase or decrease. consumer...
usion (24 points) Two firms are playing a repeated Bertrand game infinitely, each with the same marginal cost 100. The market demand function is P-400-Q. The firm who charges the lower price wins the whole market. When both firms charge the same price, each gets 1/2 of the total market. I. Coll A. (6 points) What price will they choose in the stage (only one period) Nash equilibrium? What price will they choose if in the stage game (only one...
1) Decreasing returns to scale may occur as increasing the amount of inputs used A) increases specialization B) may cause coordination difficulties. C) always increases the amount of output produced D) increases efficiency. 2) Which of the following statements is NOT true? A) AFC = AC - AVC C) AVC = wage/MPL B) AC = AFC + AVC D) C=F-VC 3) The more elastic the demand curve, a monopoly A) will have a larger Lemer Index. will face a lower...
FART I TRUE FALSE QUESTIONS (10 points). Please write True (1) or False (F) on the blank Scarcity is the intimited nature of society's resources given society's limited wants 2. A reward is a type of positive incentive. 3. To remove difficulty of double coincidence of wants we use money. 4. An exogenous factor is a variable that can be controlled for inside the model. 5. The PPF will not have a constant slope. 6. The law of demand states...
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