Question

please help

1 1
Q(L, K)
50KELE, where K is capital and L is labour. The marginal products are
1 1
1
1
к -LE.
KFL, and MPg
MPL
50
50
Draw a graph showing the short run profit maximization with a few isoprofit
lines and the production function.

Image Transcription

1 1 Q(L, K) 50KELE, where K is capital and L is labour. The marginal products are 1 1 1 1 к -LE. KFL, and MPg MPL 50 50 Draw a graph showing the short run profit maximization with a few isoprofit lines and the production function.

Expert Answer

Want to see the step-by-step answer?

Check out a sample Q&A here.

Want to see this answer and more?

Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*

*Response times vary by subject and question complexity. Median response time is 34 minutes and may be longer for new subjects.
Tagged in
BusinessEconomics

Microeconomics

Related Economics Q&A

Find answers to questions asked by student like you

Q: Additional questions:Supposed you and your friends decide to rent the four bedroom apartment and sub...

A: Part -1.Average Fixed cost per roommate will be computed after arriving at Total fixed cost which is...

Q: O See Hint Suppose seven individuals enjoy going to the comedy club. Their demand is as follows. Per...

A: We are given seven individuals and their willingness to pay for comedy club. Also, it is stated that...

Q: a1. You learn on the business channel that inflation was about 0.8% last month.  Assume this rate is...

A: Since you have not mentioned which question have to answer. So, I am answering question “a1”.

Q: 1. In the RBC model-- if we start at a point of long-run equilibrium and the Fed undertakes quantita...

A: Click to see the answer

Q: Suppose that the cost of all inputs (both labor and capitol) decreases. What will happen to the long...

A: In economics, inputs are considered as factors of production. That means, inputs are those factors t...

Q: Suppose that a city government introduces a $0.50 excise (commodity) tax on consumers of bottles of ...

A: An excise tax is the tax levied on the production of goods. We proceed further according to the ques...

Q: If banks decide to hold some of their excess reserves instead of lending them all out, then:   ...

A: Excess Reserves are bank-held capital reserves that exceed the minimum reserve requirement set by a ...

Q: A company purchased a CAD software for $5000 now and the annual payments of $500 per year for 6 year...

A: Preset worth:Present worth can be calculated as follows:

Q: (Figure: A Money Market) The accompanying figure Equilibrium in the Money Market shows the money mar...

A: Monetary policy: Monetary policy is the tool in the hands of the central bank of a country which reg...