Isocost intercept on the L axis = (cost / Price of L)
Isocost intercept on the K axis = (Cost / Price of K)
Isocost intercept on the L axis moves outward when the price of L decrease, keeping the cost unchanged.
Isocost intercept on the K axis moves inward when the price of K increase, keeping the cost unchanged.
If an isocost's intercept on the L axis moves outward while its intercept on the K axis moves inward, then we can infer that the price of L decrease and price of K increase.
Answer: Option (C)
13. If an isocost's intercept on the L axis moves outward while its intercept on the K axis moves inward, then we can i...
1 pts Question 10 Which of the following is most accurate about an isoquant? O The isoquant of a higher level of output is always shown closer to the origin. 0 Anoutput level Q can only be produced by input combinations on its isoquant The isoquants of two different output levels cannot cross each other in the short run, but in the long run they may cross None of the above is correct. 1 pts Question 11 11. Which of...
7. Production can be described by Q(L,K) = LK + L. The marginal product of labor as the firm uses more L, holding K constant. The marginal rate of technical substitution of L for K __ as the firm moves from left to right along an isoquant. a. decreases; decreases b. decreases; increases c. decreases; remains constant d. increases; decreases e. increases; increases f. increases; remains constant g. remains constant; decreases h. remains constant; increases i. remains constant; remains constant
Chapter 08, Problem 076 We move a particle along an x axis, first outward from x = 1.0 m to x = 4.0 m and then back to x = 1.0 m, while an external force acts on it. That force is directed along the x axis, and its x component can have different values for the outward trip and for the return trip. The table contains the values (in newtons) for four situations, where x is in meters. Find...
When electron moves in the direction which is against direction of electric field lines we can conclude that: c. it moves from high potential to low potential and its electric energy increases. it moves from high potential to low potential and its electric energy decreases. e. both its electric potential and electric potential energy stay constant. it moves from low potential to high potential and its electric energy increases. it moves from low potential to high potential and its electric...
Isoquant: Q = 70 Tangency Isocost: TC = $? Figure 1. Isoquant and Isocost Price of L = $20; Price of K = ?; TC = ? 14. Refer to Figure 1. The intercept of the isocost on k axis is 10 15 20 33.33 Refer to Figure 1. When total cost is minimized for producing Q=70, the relative productivity ratio of capital to laboris O 2/1 1/2 4/5 5/4 17. Refer to Figure 1. It is observed that the...
Can I have this in details please Thank you! 21」A particle moves along the x axis according to the M equation x = 2.00 + 3.001-1.0012, where x is in meters and tis in seconds. At 3.00 s, find (a) the position of the particle, (b) its velocity, and (c) its acceleration.
QUESTION 13 Q8 (d): A motor vehicle and its simple mathematical model that can vibrate in the vertical direction while traveling over a rough road is shown in Figure (below). The vehicle can be idealized as the spring-mass-damper system. The road surface varies sinusoidally and can be described asy()-r sin ot The vehicle has a mass of m kg. The suspension system has a spring constant of k N/m and a damping ratio of ζ 0.15 ta) For the above...
Thymol has the formula C10H14O and its combustion can be written as: C10H14O(l) + 13 O2(g) → 10 CO2(g) + 7 H2O(l) The change in enthalpy of combustion of 1 mole of thymol at 298.15 K is determined to be -5660 kJ at constant pressure. What is ΔE for this reaction at 298K? Enter your answer to 4 significant figures in units of kJ. Be sure to include the sign.
Suppose a firm can use either Capital (K) or Labor (L) in a production process. The firms Production function is given by Q = 5L + 15K. The price of Capital is $20 per unit and the price of Labor is $8 per unit. a) (4 points) What is the firm’s Total Cost function? TC(Q) = ____________________________ b) (8 points) Suppose the firm is producing 30 units of output (Q = 30). Using a graph, draw the firm’s isoquant for...
2. (12 total points) Suppose a firm can use either Capital (K) or Labor (L) in a production process. The firm's production function is given by Q = 5L + 15K. The price of Capital is $20 per unit and the price of Labor is $8 per unit. a) (4 points) What is the firm's Total Cost function? TC(Q)= b) (8 points) Suppose the firm is producing 30 units of output (Q = 30). Using a graph, draw the firm's...