A firm’s only variable factor is labour and it produces a single product, X. It also has fixed costs. The short-run production function is; X=-0.1L3 + 6L2 + 12L. Where X is the output in tons, and L is the number of persons employed. How many persons are employed if the average physical product of labour is maximized? How many persons are employed if the marginal physical product of labour is maximized? What is the quantity of X when average variable cost is minimized? If the weekly wage is $360 and the price of X is $30 per ton, how much X should be produced to maximize profits?

Q: Consider the following production function: q = (KL)ª, where a > 0. Answer the following questions:…

A: Given  Production function: q=KLα where α>0             ............ (1)

Q: Suppose that the production function for DVDS is given by Q = KL2 - L3, where Qis the number of…

A: As per the question, Q=KL2-L3. When K=600, this production function can be written as Q=600L2-L3.…

Q: The production function for a firm is:                  q=-0.6L3+18L2K+10L where q is the amount…

A: Production function  q = -0.6L3+18L2K+10L  In short-run, the capital K is fixed at K=1 So short-run…

Q: Consider a firm who owns capital K and has the following production technology Y = zF(K, N)= 2K³N³,…

A: A production function is a mathematical equation that expresses the relationship between the number…

Q: Assuming labor is the only variable factor and paid at a constant wage rate ? show that the average…

A: The productivity metrics (TP, AP, and MP) and the cost measures have some significant correlations.…

Q: For Questions 20 to 23, consider the following production function: q = K2/3[1/3 where q is the…

A:

Q: The production function for a firm is q=−0.6L^3+18L^2 K+10L where q is the amount of output, L is…

A: The average product of labor is the total product of labor divided by the number of units of labor…

Q: Suppose that output q is a function of a single input, labour (L). Describe the returns to scale…

A: amazon work space client google  download and install zoom meeting install   okta in phone The…

Q: If we assume that labor is the only variable input, the slope of the short run total product curve

A: Marginal Product of labour is defined as the increase in total production of the company when one…

Q: Consider the C -Douglas production function q a. Find the RTS and show that it is decreasing in l.…

A: here we can determine the given equations as follow

Q: Given that Q = Q(K,L) = (aK" + (1 – a)L")F represents a production function, where Q is output, and…

A: We are going to find the value of expression dK/dL to answer this question.

Q: A widget manufacturer has a production function of the form q= VLK. If the wage rate (w) is $4 and…

A: production function q=Lk,w=4 r=1returns to scorelet y=Lk=f(k,L)solving all factors of production by…

Q: which one is true If a firm uses 10 units of labour and 20 units of capital to produce 10 units of…

A: The marginal product of labor refers to the increase in the total output by the addition of one more…

Q: Consider the production function of widget: Q= 23K"^L°.8, where Q is units of output per month, K is…

A: Given; Production Function; Q=23K0.4L0.8 where; Q= Output per unit K= Hours of capital L= Hours of…

Q: Suppose that a firm's only variable input is labor. The firm increases the number of employees from…

A: The labor market of the economy determines the equilibrium wage rate for the workers in the economy.…

Q: Suppose there are two primary factors of production, labour (L) and capital (K), and there are…

A: Given  Production function  Y=cKL ........ (1)  where c is constant  K denotes capital and L denotes…

Q: Suppose that a firm's production function is given by Q = KL. If capital is fixed at 1 unit in the…

A: The labor market is the market that is determined by employment and wages. The labor demand curve…

Q: A widget manufacturer has a production function of the form q = 6L + 10K . If the wage rate (w) is…

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

Q: As a firm hires more workers, holding capital and other factors constant, the marginal physical…

A: Answer is (a) the amount of other inputs each worker has to work with declines as the number of…

Q: Suppose that you are the Production Manager of Mini Me, Inc., and you have estimated the…

A: The marginal product of labor (or MPL) refers to a company's increase in total production when one…

Q: A widget manufacturer has a production function of the form q = L? K² . If the wage rate (w) is $4…

A: Since you have posted multiple parts questions, we will solve the first three parts for you. If you…

Q: A firm's production function is: q = 20L1/2K1/2 where q is the firm's total product, L is the…

A: Given firm's production function is: q = 20L1/2K1/2 Price of labor is $25 per unit and the price of…

Q: The production function for a product is given by q= 10K^(1/2)L^(1/2) where K is capital, and Lis…

A: The production is given as follows-

Q: Given Q = AK" LP; Qo = 2,000, A = 100, a = 0.6, p = 0.8, w = 50, r = 80 A. Does this production…

A: The technical relationship b/w the quantities of physical inputs and quantities of products output…

Q: Consider the production function: Y=Z*F (K,L,A) where Y is output, z is technology, K is capital,…

A: Answer-

Q: A firm uses two inputs, capital and labor, to produce output. Its production function exhibits a…

A: Given information Production function is Cobb-Douglas production function. There are 2 inputs: Labor…

Q: Consider the following production function: q = f(K, N) = 4KN, where q is output, the two inputs are…

A: Given: q=fK,N=4KN

Q: Consider the following production function: q = 100L0.8K0.4 Currently the wage rate (w) is $12.00…

A: Labor input is measured as either the number of workers employed or the number of hours they worked…

Q: Using Techniques Units of Variable Inputs Produce 1 unit of output K L 12 2 units of output A 14 12…

A: AVC the general variable value per unit of production is that the average variable value (AVC).…

Q: Consider the following production function: q = 100L0.8K0.4. Currently the wage rate (w) is $20.00…

A: The firm will maximise its cost where the marginal rate of technical substitution is equal to price…

Q: A plant's production function is Q = 2KL. For this production function, MPx = 2L and MPL = 2K. The…

A: Given production function Q=2KL MPk=2L MPl=2K W=4 r=6

Q: F(L, K) = LK^3 and F(L,K) = L+3K for each of these production functions: a) draw the corresponding…

A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…

Q: If a firm's marginal product of labour is less than its average product of labour, then an increase…

A: Average product of labor is the total product divided by the quantity of labor employed.  Marginal…

Q: .Suppose the marginal product of labor is MPL=10 and the cost of each worker is w=50.  What is the…

A: MPL=10 w=50

Q: Suppose that the output Q (in units) of a certain company is Q = 75K¹/32/3, where K is the capital…

A: Given information: Q=75K13L23

Q: A firm's production function is 0=50L – 0.01Ľ' , where L denotes the size of the workforce. Find the…

A: Given : Q=50L-0.01L2 The law of diminishing marginal productivity states that when an advantage is…

Q: A firm’s only variable factor is labour and it produces a single product, X. It also has fixed…

A: Since you have asked multiple questions, we will solve the first three questions for you. If you…

Q: Please only answer d Consider the following Cobb-Douglas production function: Y = 10 L^0.4 K^0.4.…

A: Answer - Need to find- Effect on the total costs when wage increase from 20 to 30    Given wage Bill…

Q: Given the Production function for Mwaba & Mutale Enterprises as follows: Q = f (k,l) = 300k 2l2 - k…

A: Introduction Production is said to be the transformation of input into output. Total product is the…

Q: A. SHORT-RUN CHANGES IN PRODUCTION SHOWING FACTOR PRODUCTIVITY Units of Y Employed Output Quantity…

A:

Q: Suppose that a firm had a production function given by: q=LK () is $5. The wage rate (w) is $10 and…

A: In economics, a production function gives the technological relation between quantities of physical…

Q: With a Cobb-Douglas production function of Y = K$L5, What are the marginal product of capital and…

A: A production function illustrates the relationship between the inputs used and output produced in a…

Q: A firm’s only variable factor is labour and it produces a single product, X. It also has fixed…

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

Q: For its current level of production, a firm is attempting to minimize its costs. The firm has…

A: The marginal product of labor is 10 =>MPL=10 ------- The marginal product of capital is 20…

Q: Why would labor be treated as a variable cost? labor costs will decrease as the firm produces more…

A: Fixed cost refers to the cost which remains same at all levels of output. It is independent of…

Q: For the production function q = f(K, L) the ratio of the percentage change on with PK is called…

A: cobb douglas production function:- Q=ALαKβ in the cobb douglas production function, we have…

Q: Consider the following production function: q= 100L0.8K0.4 Currently the wage rate (w) is $15.00 and…

A:

Q: Consider the following production function: q = 100L0.8K0.4 Currently the wage rate (w) is $4.00 and…

A: Cost is minimized at the optimal level of production.