A manufacturer estimates that the annual output at a certain factory is given by K,L) = 40K0.8L0.2 units, where K is the capital expenditure in thousands of dollars a size of the labor force in worker-hours. Suppose that the current capital expenditure is 0000 and the labor level is 560 worker-hours. ind the current marginal productivity of capital QK- SWER: ind the current marginal productivity of labor QL. SWER: hould the manufacturer consider adding a unit of canital or a unit of labor in order to ir

Q: compute the marginal product of capital (MPK) and the marginal product of capital (MPL) of  a. Q=3…

A: Labor and capital are widely recognized as the two most significant factors employed jointly in the…

Q: Suppose a firm is producing some output level q1 using a combination of capital and labor for which…

A: The cost minimization would result in the minimization of the total cost of production subject to…

Q: )1 and MPl = (q/l)1 . b. Show that RTS = (k/l)1 ; use thi

A: a. Q = (kp + lp)1/p MPK =dq/dk=1/p*p*kp-1*[(kp +lp)1/p-1 ]=[(kp +lp)1-p/p]/k1-p =q/k1-p MPL…

Q: Suppose that widgets can be produced using two different production techniques, A and B. The…

A: The cost of production can be calculated by summation of the product of the cost of labor and…

Q: 9. Some economists believe that the U.S. economy as a whole can be modeled with the following…

A: The wage rate is equal to the marginal product of labor multiplied by price. The wage (W) can be…

Q: For questions 11-14: Suppose a firm's production function is given byes q = 8/Ew + Ep, where Ew and…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: a)What is the initial population of Cobra Island?   b)Let the wage of labor is 0.4, and the rental…

A: (Note: Since there are multiple questions, the first three have been solved).   The Solow model…

Q: 3. The wage rate is £10 and the capital rate is £20. If a firm was spending £c, show what…

A: The production given is in linear form which implies L and K are perfect substitutes. This means…

Q: Suppose a Cobb-Douglas Production function is given by the following: P(L, K) = 70L0.9K®1 where L is…

A: Cob-Douglas production function is a special production function used in economics to indicate the…

Q: If more and more labor is employed while keeping all other inputs constant, the marginal physical…

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

Q: Consider an economy where labor is the only factor of production. The aggregate production function…

A: Answer-

Q: Given the production function: Q = 0.5C ^ 2 + 12CL + 1.5L and the total acceptance function: TR =…

A: Production Function  Q = 0.5C2 + 12CL + 1.5L DIfferentiate  Q with respect to C to get Marginal…

Q: Suppose life expectancy in years (L) is a function of two inputs, health expenditures (H) and…

A: The marginal product of a business is the additional output created as a result of additional input…

Q: )*(k/q) or (q/k)*(k/q) or lnq/lnkSimilarly for elasticity of output wrt l, eq,ld. Prove that q/l =…

A: 1. a. Given Q = (kp + lp)1/p MPK =dq/dk=1/p*p*kp-1*[(kp +lp)1/p-1 ]=[(kp +lp)1-p/p/k1-p =q/k1-p MPL…

Q: Suppose that the output Q (in units) of a certain company is Q = 75K1/3L2/3, where K is the capital…

A: Output function(Q) = 75K13L23                           ------------------ equation 1 Here, K =…

Q: Suppose a firm has the following production function: Y = A[ln K + ln L]. A is a variable…

A: Production function: Y = A[ln K + ln L]

Q: Will rate you good

A: Answer is given below

Q: (1) Suppose the production function for widgets is given by q = kl-0.8k -0.212 where q is the annual…

A: Given, The production function or total product function,  q= kl - 0.8k2 -0.2l2 Here, q = quantity…

Q: Suppose a firm producing metal rods in the short run faces a production function of the form.   Q =…

A: Given production function  Q = 100K2L2 – L3K3  K= capital L=labor K= 10 units fixed.

Q: In 2000, the country of Cobra Island has an initial level of capital set at 10 units. The population…

A: Note: Since we can only answer up to three subparts, we'll answer the first three subparts. Please…

Q: . Ariel's T-shirt company hires labor at a rate of $8 per hour and rents capital (sewing machines)…

A: Given , Production function : q = 6K1/3L2/3 w = 8 /hour  r (cost of sewing machines ) = 128 per…

Q: Consider a competitive, closed economy with a Cobb-Douglas production function with parameter α =…

A: (a) According to the question, Let us assume a Cobb-Douglas production function with parameters A…

Q: Suppose a firm is using 1500 units of labour and 20 units of capital to produce 100 tonnes of…

A: The expenses that are incurred for carrying out day-to-day transactions of the business are known as…

Q: The manager of Dixie Furniture Company estimates that the daily output of her factory (in thousands…

A: a.) Daily output of the factory can be calculated as follows: If X = 81,000 and Y = 265,000 Thus,…

Q: In 2008, the country of Cobra Island has an initial level of capital set at 10 units. The population…

A: Given, production function, Y=10*L1/2K1/2 L is Labour K is Capital Capital is given as 10 units…

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: Suppose the production function for widgets is given by q=KL+6L²-0.1L³ where q represents the annual…

A: In the production process, different inputs are used to produce the final output. Several inputs…

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

A: Cost is minimized at condition,

Q: Fuppose that the production function is Y = 9 KUNUD. Vith this production function, the marginal…

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

Q: Suppose life expectancy in years (L) is a function of two inputs, health expenditures (H) and…

A: Marginal product of an input is the increase in output by employing one more unit of the input

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: Suppose the production function for widgets is given by KL – 0.5K2 – 0.1 L2 , where q represents the…

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

Q: Suppose the production function for widgets is given by q=kl-0.8k².0.212 where q represents the…

A: The production function shows all the combinations of labor and capital inputs that can be used to…

Q: Suppose life expectancy in years (L) is a function of two inputs, health expenditures (H) and…

A: The marginal product of a business is the additional output created as a result of additional input…

Q: uppose a Cobb-Douglas Production function is given by the following: P(L,K)=60L^0.8K^0.2 where LL…

A: Production is maximised subject to budget constraint where marginal rate of technical substitution…

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: F (L, K) = L0.2K0.7， The wage rate (price per unit of labour) is w = 2 and the capital rental rate…

A: Answer in step 2.

Q: Imagine you own a business firm with a friend of yours. During the first quarter you come up with…

A: Production function represents the relationship between the output produced and the cost of…

Q: A В D E Y/L 4 8 12 16 20 K/L 1 4 9 16 25 25 20 15 10 10 15 20 25 зо K/L Both the table and the…

A:

Q: Suppose that the output Q (in units) of a certain company is Q = 75K?/3L2/3, where K is the capital…

A: Production function depicts the relationship between the physical outputs of a production process…

Q: Suppose there is a firm who hires workers as part of their production. The firm makes use of two…

A:

Q: 1. Suppose the production function for automobiles is given by q = kl-0.8k² -0.21² where q…

A: “Since you have posted multiple questions with multiple sub-parts, we will solve the first question…

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

A:

Q: nsider the following production function. q= 96LK+ 25L2 - 3 sume capital is fixed at K= 25. what…

A: ANS The marginal product of labor is the change in the amount of output produced when the number of…

Q: Suppose that production function is Y=K1/3(AN)2/3 and competitive firms hire capital and labor to…

A: A production function expresses the technological relationship between the quantity of physical…

Q: uppose that the production function for compact disc player is Q=100L 0.6K 0.4   Where ? is the…

A: Given  Q= 100L0.6K0.4       ....... (1)  Where Q is total output, L is the quantity of labour…