Derive profit function based on the Cobb-Douglas production function 1/3 2/3 of y = x x,

Q: A cob Douglas production function for a firm is given as Q=4L ½K½. The firm has also established…

A: Cobb Douglas Production Function-It represents connection between its inputs( physical capital and…

Q: Assume the Cobb-Douglas production function is Q= L ^0.75 K^0.5 and if price of labor per day is 5…

A: Given  Q =L0.75 K0.5     ......... (1) Price of labour = 5 birr per day  Price of capital = 10 birr…

Q: The Director of Jonat Enterprise hires labour (L) and rents capital equipment (K) in a competitive…

A: Production function : Q = 14K0.5 L0.5 + 10  Profit maximizing utilization of any input is the till…

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

A:

Q: Define Cobb–Douglas production function.

A: Cobb Douglas's production function is applied to the entire manufacturing industry rather than only…

Q: Nana sells homemade hand sanitizers at a price of 75 pesos per bottle. Suppose r bottles of…

A: Given  Price of hand sanitizer = P75 per bottle The cost function of producing hand sanitizer:…

Q: Given the production function f(x,x2) = x,ax, calculate the profit maximizing demand and supply…

A: The optimal degree of utilisation of a firm's inputs might help it reach the point of profit…

Q: Suppose that a firm has a production function given by f(21, 22, 23) Arizz If a 2.10, b= 1.10, and…

A: Marginal product is calculated by differentiating total product with respect to change in variable…

Q: Which of the following properties may not necessarily hold for Cobb-Douglas production functions? I.…

A: The Cobb-Douglas production function is given as follows: Q = A LaKb Here, L is labor. K is capital.…

Q: Suppose that a firm’s production technology is described by the production function f(x1, x2) =…

A: The production function is given as follows: Q = x12 x2 The cost of the firm is minimized at a point…

Q: A Cobb-Douglas production function for new company is given by ?(?, ?) = ?³/⁵ ?²/⁵ where K…

A:

Q: Coca cola uses labour(L) and capital (k) in its  production process.  It estimates that the…

A: Q= K0.5 L0.5  The selling price of a bottle of coke = GH4 Cost of machine (capital) = GH3 Cost of…

Q: Find the marginal profit function if cost and revenue are given by C(x) = 183 + 0.3x and R(x) = 9x -…

A: Marginal profit function measures how much the profit changes when there is a unit change in the…

Q: . Suppose a firm has the production function f (x1, x2) = 5x,x2. Find the firm's long-run…

A: A firm will maximise its profit at a point where marginal product is equal to real wage of two…

Q: A firm produces output y from inputs x1 and x2 whose prices are given as w1 = 1 and w2 = 1…

A: Answer- Given in the question- The production function = y = x11/2 x21/2 Inputs x1 and x2  Prices w1…

Q: Suppose you have following production function for your firm : q = åx,“x, where x, > 0, x, > 0 and a…

A: You have asked multiple questions. We will answer the first question for you. If u want any specific…

Q: Given the following production function. If the price of the output is $100. What is the Marginal…

A: Answer; Marginal Revenue product of labor = Marginal Product of labor * Price of output produced by…

Q: Suppose a company's revenue function is given by R(q)=−q3+400q2R(q)=-q3+400q2 and its cost function…

A: Profit maximising condition  where marginal cost is equal to marginal revenue   And Equilibrium…

Q: Find the marginal cost function. C(x) = 174 + 1.7x The marginal cost function is C'(x) = ||.

A: The cost function is: C(x) = 174+1.7x

Q: For the Cobb-Douglas (attached) production function, find the profit function with A > 0, α1, α2 > 0…

A: The Cobb-Douglas production function is:

Q: Consider the following production function: Q = K² L²

A: ‘Economies of scale’ is nothing but the cost advantage that a firm obtains due to its production…

Q: Show that if the production function is concave, the cost function is convex (in y).

A: Single input and single output case The production function is Concave. the input prices Y are…

Q: A firm has a Cobb-Douglas production function, q=2L0.5K0.5 . If it faces factor prices of w=20 and…

A:

Q: the wage rate of labour is GH¢2 per hour and capital is rented at GH¢5 per hour. Also, the unit…

A: Production function : Q = 14K0.5 L0.5 + 10  Profit maximizing utilization of any input is the till…

Q: Suppose the firm's production function is Q = 2KL, where Q is units of output, K is units of capital…

A: We can find out the short run production function using the capital K= 4.

Q: Starting with the generalized profit function, derive the condition for profit maximizing level of…

A: Total cost is the expenditure incurred in the production of goods and services. The total cost is…

Q: Find the marginal cost function. C(x) = 174 + 1.7x The marginal cost function is C'(x) = ||:

A: The total cost function is: Cx=174+1.7x

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

A: We have to find maximum possible output for a firm with,  Labour (L) = 12 units  Capital (K) = 24…

Q: Consider the following Cobb-Douglas production function: Y = 10L04K04. Suppose that the price of…

A: since you have asked a multipart question and according to our policy we can only solve the first 3…

Q: Find the marginal profit function if cost and revenue are given by C(x) = 190 + 0.6x and R(x) = 7x -…

A: Answer to the question is as follows:

Q: If a cobb-douglas production function shows decreasing returns to scale (that is the exponents sum…

A: Cobb Douglas's production function is a particular kind of functional form that shows the…

Q: What are the advantages of internal economies of scale ? Explain shortly.

A: Internal economies of scale mean the company improves output when the average cost of the product…

Q: The Director of ABC Enterprise hires labour (L) and rents capital equipment (K) in a competitive…

A: The optimal input bundle is when MPL/MPK = Wage rate / Rent of capitalWhere, MPL = Marginal product…

Q: 9. A firm has the following production function, Q = Q(K, L) = K²+L², where Q is output, and K…

A: We are going to find the optimal profit and implication of wage rate on profit to answer this…

Q: A firm has the following production function where q represents the output level per week, L…

A:

Q: firm has the following production function: q = 8KL, where q is the weekly output, K is the number…

A: Firm's production function: q = 8KL K=10 machines Every machine rents for $50,000 per week and every…

Q: Suppose that the production of sports cars is given by the following production function: Q - (L/2+…

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

Q: Consider

A: Constant return to scale refers to when there is equal increase in output to increase in input…

Q: If a competitive firm uses two inputs and has the production function F(x1, 22) = VI1+ væ2, then its…

A: The production function is the maximum output that can be produced with the given technology. The…

Q: Consider a firm with production function in the Cobb-Douglas form q = K^.5L^.5 Suppose that one…

A: It is given that q=k0.5L0.5 r=12.5 , w=8 q=2

Q: Coca cola uses labour(L) and capital (k) in its  production process.  It estimates that the…

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

Q: Show that the Cobb – Douglas production function f(x,,x, )= Axx , with 0 0, x, > 0.

A: Given information Cobb-Douglas production functionf(x1,x2)=Ax1αx2βWhere 0<α,β<1and…

Q: If the average cost function of a good is 15 AC =+ 20+11 find the fixed costs and an expression for…

A: The average cost function is: AC=15Q+2Q+11

Q: Show that the Cobb-Douglas Production Function ?(?, ?) = ??^??^? with α+ β=1 satisfies Euler’s…

A: Paul H Douglas and CW Cobb introduced the Cobb Douglas production function. There are two inputs in…

Q: ) Consider a firm with a Cobb-Douglas production function Y; = K§L-°. As the firm decreases the…

A: Marginal product of capital is the additional output produced by using an additional unit of…

Q: Drive the input demand function for the production function q= Ka +ek. Moreover drive the profit…

A: Given Production function Q=K^a+e^k Here Q is output K=input 1 e= input 2

Q: Q. 3 Consider a firm with a production function given by Q = F(K, L) = 2KL . 5-a) Compute the degree…

A: 5-a) Q=F(K,L)=2KL F(K,L)=2KL F(tK,tL)=2(tK)(tL)              = 2t2KL             = t2(2KL)…

Q: Question 32 Consider a firm with production function f(L,K)=3L1/3K2/3. Assume that capital is fixed…

A: The production function is the technical relation between the inputs used and the output produced.…