. The short run Is less than one year Requires that at least one input is fixed

Q: A 25% reduction in labor hours is obtained with 75% learning curve each time the production quantity…

A: The concept that depicts the doubling of production level is known as the learning curve. This…

Q: 3. Show that, for the two-input CES production function 1. 1-p

A: The CES Production Function refers to a neoclassical production function that shows constant…

Q: b. If AC= Q?-4Q+10 i. Final the total cost and marginal cost function. Is this function is more…

A: TC = Q x AC = Q3 - 4Q2 + 10Q MC = dTC/dQ = 3Q2 - 8Q + 10

Q: Consider the following production functions:Q50KaOs BO G) find the value of a when K- 1, L= 1 G)…

A: Given; Production function; Q=150K0.7L0.5 i) If the value of K=1 and L=1, then; Q=150K0.7L0.5…

Q: A bottling company uses two inputs to produce bottles of the soft drink Sludge: bottling machines…

A: Given  wage for labor w =$200 rent of machine r =$1000 At current level of production, the Marginal…

Q: True or False. Please explain The production function f(x1,x2,x3) = (min{0.5x1;0.75x2 })0.5 ·x30.5…

A:

Q: The total cost (TC) of producing computer software diskettes (Q) is given as TC-200+5Q. When Q-10,…

A: ATC = TC / Q = (200 / Q) + 5

Q: A company produces two products.  FC = Total Fixed costs = $580 VC1= variable costs from product 1 =…

A: Total fixed cost is independent of output produced whereas variable cost varies with the level of…

Q: A manufacturing plant has a short-run cost function of C(q) = 100q - 4q2 + 0.2q3 + 450. (a) What is…

A: here we calculate the following costs by using the given functions , so the calculation of the…

Q: Does a relationship exist between increasing returns to scale and long-run average cost? Ex with the…

A: Economies of scale or increasing returns to scale are utilized conversely; both implies to a fall in…

Q: Production function is Q = 200√L√K PL = 500 PK = 800 Total outlay, C = 5000 Determine lost…

A: Since you posted a question with multiple sub-parts, we will solve the first three sub-parts for…

Q: C(x) = 60 + x² dollars. %3D (a) Find the marginal cost at x = 4 units. MC(4) = Tell what this…

A: Cost function alludes to the functional connection among cost and result. It concentrates on the way…

Q: Cost Indexes can be used to show the relative cost change of a specific type of item over time: Ct =…

A: Cost in 2011 = Amount paid in 2002 × (cost index in 2011/cost index in 2002) = 10,000 ×…

Q: he marginal product of the 14 th worker is 8 and the firm sells its output for $4 per unit. If labor…

A: MP of 14th worker = 8 Output sell  = $4 per output

Q: 2. (Short-run costs, Evren wants to go into the donut business. For $500 per month he can rent a…

A: Given information Production function: Q = 5KL Where Q is tons of donuts K is capital  L is labor…

Q: 70. Total costs in the short-term are classified into fixed costs and variable costs. Which one of…

A: Total cost includes all the costs incurred for producing the product.

Q: In the short run , a firms total cost is $200 if it does not produce any units of output. Its…

A: When Q = 0, TC = TFC = $200, which stays unchanged across output levels. TC = TFC + TVC = TFC + AVC…

Q: 4. F&D Manufacturing company increases all its inputs by 50 percent each. If F&D's output increases…

A: The suppliers, firms, producers, and businesses tend to make up the supply side of the markets.…

Q: Adam operates a small shop specializing in party favors. He owns the build- ing and supplies all of…

A: The Accounting profit are the profits that are calculated by deducting the Total explicit cost from…

Q: A manufacturing Company has estimated its quarterly demand (units) as shown in the following table.…

A: Before Quarter one Production should be 1600

Q: Average Total Cost ($ per tablet) Number of Factories Q=100 Q=200 Q=300 Q=400 Q=500 Q=600 1 400 300…

A: Given information Q Factory1 Factory 2 Factory 3 100 400 540 720 200 300 350 400 300 200…

Q: Consider the following long-run isoquants and inputs. In which case(s) is there increasing returns…

A: Increasing return to scale means output increases more than the increase in inputs…

Q: ssume that the production function of a firm is Q = L0.23K 0.10 . L = labor, K = capital.…

A: Marginal Rate of Technical Substitution (MRTS) = MPL/MPK

Q: Dwing production function: Q = 2K + 4L where K is Capital, Lis Labour and Q represents output.…

A: The production function                  Q = 2K + 4L                           Where, Q= Output…

Q: In the production process, both the average product and marginal product of the variable input rise…

A: In the production process, both the average product and marginal product of the variable input rise…

Q: If Mark produces five pairs of shoes, his total costs are   a. $400 b. $370 c. $360 d. $320

A: Total cost is the sum of fixed cost and variable cost.

Q: onsider the following short-run production function, where bor (L) is the variable input and capital…

A: Given Q(L) =(6L2 −0.4L3)  We need to calculate maximum value of labor (L),

Q: What should he recommend as a short-run remedy?

A: Marginal product of labour in plant B is higher than Plant A

Q: A firm's short-run cost function is C(q) = 10q - 12q² + O.5q³ + 400 %3D

A: GIVEN    C(q) = 10q-12q^2+0.5q^3+400

Q: “My friend, Mike, is a CPA and owns his own tax business. During tax season, he hires additional…

A: Law of diminishing marginal returns states that as a person goes on increasing the amount of an…

Q: 1. At which output level does the firm begin to experience diseconomies of scale? a. 10000 d. 35000…

A: The diseconomies of scale occur when the per-unit cost of production would see the rise.

Q: Q2. A firm's production function is Q = 9LZ+1)/10K(Y+1)/10 a) Find out AP of labour when K= 8 and L…

A: A firm's production function is  Q = 9L(z+1)/10K(y+1)/10 Given that , Z = 0, Y = 9

Q: 45. The short run A. O Is less than one year B. O Requires that at least one input is fixed C. O…

A: Labour includes physical and mental effort by humans throughthe use of human capital (education,…

Q: e Cobb-Douglas production function Y = AKO.3L0.7 is a(n) production function, if A, K A.…

A: Constant returns to scale occurs when increase in all factors of production leads to same…

Q: Cost to be incurred even in the absence of production is reflected on Variable Input. O True O False

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Assuming a firm has this short-run production data below, do the following: a. fill-in the rest of…

A: MPL=∆TP∆LAPL =TPLTFC = Php2000 x KTVC = Php 700 x LTC = TFC + TVCMC =  ∆TC∆QAFC = TFCQAVC = TVCQATC…

Q: Average Total Cost ($ per tablet) Number of Factories Q=100 Q=200 Q=300 Q=400 Q=500 Q=600 400 300…

A: Economies of scale refer to a situation when the firm experience a fall in the cost of production…

Q: a) Explain The Law of Diminishing Returns. b) Distinguish between the terms short run and long run…

A: In the production process, different inputs are used to produce the final output. Each input has its…

Q: 1. Do the following production functions exhibit increasing, constant of decreasing returns to scale…

A: "A production function states the relationship between factor inputs used and the amount of output…

Q: 2020 total fixed costs 2020 unit variable costs a. Decreased Increased b. Decreased Decreased…

A: Here,  considering the profit volume graphs of 2019 & 2020, the sales prices are same, and…

Q: Al Mardoof Company paid different types of costs for different output levels as shown in the given…

A: From the graph, we can see that the variable cost is depicted by the Green line. The cost is on the…

Q: 49. Last year Doreen's Dairy earned a total revenue of $42 thousand from selling 7 thousand pounds…

A: Here the variable cost given is $28 thousand Total cost given is $40 thousand To get the fixed cost:…

Q: Let  f(x1, x2) = (min{x1 − x1})α1(min{x2 − x2})α2 where x1, x2 > 0 are interpreted as minimum…

A: The cost curves of a firm are a function of the quantity of output produced. As the price of input…

Q: What’s the the total fixed costs 8 10 12 Or 15

A: Total Fixed Cost = 15

Equilibrium Price and Quantity

Equilibrium refers to a state of balance that comes about because there is equality in all forces.