A widget manufacturer has a production function of the form q= VLK. If the wage rate (w) is $4 and the rental rate on capital (r) is $1. Are the returns to scale increasing, constant, or decreasing for this production Choose... function? What cost minimization combination of K and L will the manufacturer employs to Choose... produce 40 units of output? If the firm wants to decrease output level to 20. What cost minimization Choose... combination of K and L will the manufacturer employs? Suppose that the capital input is fixed at K = 100 units in the short run, what is Choose... the short run total cost function with q

Q: If marginal cost for 7th unit is given by the function:- 4Q2 - 3Q + 20 Calculate the marginal cost…

A: The marginal cost function is given as:- 4Q² - 3Q + 20 Also the number of unit produced Is 7 units…

Q: The market for drones is perfectly competitive. Labor is the only variable input. The fixed cost is…

A: The demand and supply of the labor determines the equilibrium wage rate and quantity of labor. The…

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: A local coffee shop has the following production function of cups of coffee, ? = ?3/4?1/2. The firm…

A: The answer to the question is as follows :

Q: A firm has the following production fundion: q =min{K, 10L). where q denotes output, K denotes…

A: Part (a): q = min {K,10L} q = K = 10L Therefore equation 1 is K =q and equation 2 is q/10 =L  Total…

Q: A computer company produces hardware and software using the same plant and labor. The total cost of…

A: (a) There would no economies and diseconomies of scale if the product is produced by itself. To…

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: The production function for Q is given as Q = 5K1/2L1/2where K is the amount of capital employed and…

A:

Q: The following is output data for a firm. Assume that the amounts of all non-labour resources are…

A: The law of diminishing returns states that benefits or advantages acquired from something will…

Q: Suppose a firm’s production function is K^1/3  L^2/3 Mpk= L^2/3 / 3K^2/3  MpL=2K^1/3 /  3L^1/3…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: 1. A firm's production function is Q = 50L – 0.01L , where L denotes the size of the workforce. Find…

A: Given information:  Q = 50L - 0.01L2 The formula for MPL = aQ/aL 50 - 0.02L2-1 50 - 0.02L

Q: (b) A firm has an average cost function A(q) = 125 q + q 2 16 − 4. where q is the firm′ s output.…

A: Answer: Given: Average cost function; Aq=125q+q216-4where q is the output Calculation: (4) The…

Q: A firm's production function is given by the 4L0.5K0.5. Which of the following equation Q = is…

A: In a market, a firm's production function can be used to analyze the contribution of input variables…

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: In the theory of the firm, economist consider the total cost to be a function of the output level Q:…

A: Answer - According to the mathematical defination of the funtion is that fucntion is a relation…

Q: Suppose that a firm has the following production function: Q = min{L, K} and %3D rent = wage = 2.…

A:

Q: Prunella raises peaches where L is the number of units of labor she uses and T is the number of…

A: Slope of isocost line is the negative price ratio between the two goods.

Q: Suppose that a firm has only one variable input, labor, and firm output is zero when labor is zero.…

A: So  FC=$6 VC=7×$10       =$70

Q: Consider the production function f (x1, x2)=min{x1, x2}. Assume the price of the inputs are w1 and…

A: Production: It refers to the making of goods and services in the market. The more production would…

Q: Let in the long run production function is TP LK. If Price of labor (wage per hour) is 20 birr and…

A: The output maximization would result in the fact when the marginal rate of substitution of of…

Q: Given the production function of F(K,L) = sqrtKL If the short run has a fixed K of 5 units, which…

A: Here the production function of F(K,L)=KL the short run fixed capital k=5 units so, F(K,L)=KL=5L…

Q: The short run production function is q = 10*L. The wage rate is $10 per unit of labor, then AVC:

A: AVC is total cost divided by output.

Q: The market for drones is perfectly competitive. Labor is the only variable input. The fixed cost is…

A: Total Cost is the sum of fixed cost and variable cost. TC=FC+VC Fixed cost is that cost which is…

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: When the marginal product of adding a worker is a greater loss than the loss of the marginal product…

A: When the marginal product of adding a worker is a greater loss than the loss of the marginal product…

Q: Which would be an implicit cost for a firm?  The cost        of worker wages and salaries for the…

A: In economics, there are two types of cost, the one is explicit cost and other is implicit cost.…

Q: Suppose that a firm's production function is: 112- q = 10L0.5K0.5 98- Its marginal product functions…

A: Output has increased to 280 units, capital is 14 units. Therefore, q=10L0.5K0.5280=10L0.5(14)0.5…

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

A:

Q: In the short run, a tool manufacturer has a fixed amount of capital with labor as its primary…

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

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: Answer questions number 15 and 16 on the basis of the following output data for a firm. Assume that…

A: Given Number of workers Units of output 0 0 1 40 2 90 3 126 4 150 5 165 6 180

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: 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,…

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: Emco Company has an assembly line of fixed size A. Total hourly output is a function of the number…

A: a. The marginal productivity of labor is the additional productivity made by an additional unit of…

Q: Consider the production function of the firm below. Which of the following is NOT true? The marginal…

A: The marginal product of labor at B is 70 units – It is true (70-0)The total product is increasing as…

Q: A firm’s short-run production function is in the form of                        q = aLK +(bL^2)K…

A: Marginal production of labor (MPL) refers to the additional output that obtained by increasing one…

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: Consider a firm with the following production function where A is a constant that is more than zero:…

A: The firms, and businesses in the economies tend to operate with the motive of earning the maximum…

Q: Assume there is a linear isoquant where the input combination  K = 10, L = 0 produces Q = 100.…

A: The isoquant would result in the downward sloping curve which would result in various combinations…

Q: onsider a production function Q = (K1/2) + (L1/2) + (M1/2) where L, K, M represent labor, capital,…

A: Given Production function Q = (K1/2) + (L1/2) + (M1/2) Price of L, K, M are 1,1,and 1 Q=12

Q: You are given the following short-run information for an individual firm. Labor (L) is the only…

A: Marginal product refers to the additional output obtained due to increasing one more unit of input.…

Q: A firm's long-run total cost curve is TC(Q)= 1000Q - 30Q² + Q³. Derive the expression for the…

A: Average cost refers to total cost per unit of output. Marginal cost refers to change in total cost…