A firm's production function is *= 4z + 8y - 3z2-2ry-3y? and its maximum output capacity is 2z +y = 15. What would be the estimation of the effect on profit if output capacity is expanded by 1 unit?

Q: Find out the maximum possible output for a firm with 12 units of L and 24 units of K when production…

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A: Answer to the question is as follows:

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Q: Find out the maximum possible output for a firm with 12 units of L and 24 units of K when its…

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Q: firm has a Cobb-Douglas production function q = f(K, L) = KαL 1−α and faces wages, w, and rental…

A: Answer- "Thank you for submitting the question.But, we are authorized to solve only 3 subparts .For,…

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Q: Suppose the production function is q= f (L,K)=2L+4K . If wages are set at w=$2 and the price of…

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Q: The firm's production function is given as: Q (L,K) = 2L + 30K. The costs of Labor (L) and Capital…

A: We have Q(L, K)=2L+30K            ... (1) w=$20 and r=$2 Desired output=1000