A firm's production function is given by the following Cobb-Douglas function: q = = Ak0.510.5 vhere q is the total output per time period, k is the quantity of capital input employed per time eriod, and I is the quantity of labor input employed per time period. Suppose the firm is using 25 units of capital and 25 units of labor. For this firm, what is the narginal rate technical substitution (RTS) of labor for capital at k = 25 and 1= 25? %3D

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Q: Calvin’s Furniture store also has a Production function of TP = 90K2 − K3 1. Optimize the Marginal…

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Q: You are given the production function: Q(k,L)=10KaLB a) What is the average product of labour,…

A: Average product of labor (APL), is total product (TP) divided by the total quantity of labor.

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Q: Consider a firm whose production function is f(L,K)=ALaKb. Denote by APL(L,K)=f(L,K)/L the so-called…

A: The production function is given as;

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Q: Assuming a Cobb-Douglas production function with constant returns to scale then, as K rises with L…

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Q: Given production function -- Y = (4K)^1/3 (L)^2/3 a. Solve for the graident and Hessian matrix of…

A: (A) Gradient Matrix: dfdKdfdL = 43(4K)-2/3L2/3(4K)1/323L-1/3       Hessian matrix of f(K, L):…

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Q: Suppose the production function for widgets is given by: Q = KL - 0.8K² - 0.2L² where Q represents…

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A:

Q: If the production function is Q= KL and capital is fixed at 1 unit, then the marginal product of…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: hen a production function exhibits constant returns to scale, it means that: A. a proportional…

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A: Given production function  FK,L=q=KL-0.5K2-0.1L2       .......... (1) Where q represents the annual…

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A:

Q: Consider the production function Y = K1/2 N12 a. Compute output when K = 49 and N = 81 b. If both…

A: Plugging given values, Y = (49)1/2 x (81)1/2 Y = 7 x 9 Y = 63

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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: How would you determine that a two-input Cobb-Douglas production function has decreasing returns to…

A: Answer to the question is as follows :

Q: The marginal product of labor can be determined using the total product of labor Production Function…

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A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

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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…

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A: (1-a) Y/K; increasing marginal decreasing returns to scale capital per worker.