diminishing returns to a single factor of production and constant returns to scale at the same time

Q: QUESTION 6 Which of the following production functions exhibit constant rehurns to scale? In each…

A: Given: The various production functions are, as: 1) Y = K1/2L1/3 2) Y = 3K1/2L1/2 3) Y = K1/2 + L1/2…

Q: For the production functions of (1) and (2) create the isoquants for q = 100, and for q = 144 with K…

A: Isoquant curve represents the influence of all inputs on the level of output.

Q: 2-lf you have the following production function Q=f( L,K), answer the following: 1. Is this function…

A: Given: Q=f(L,K)

Q: Q = AKBLa is a cobb doulas production function which is homogenous function of degree 4. Of what…

A: Production function refers to the functional relationship between the given input and the achieved…

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.

Q: Which of the following production functions exhibit constant returns to scale? In each case y is…

A: Given: The production functions are: 1y=K12L132y=3K12L12(3)y=k12+L12(4)y=2K+3L

Q: Consider a firm with a given fixed amount of capital. Draw an example Total Product curve of labor…

A: Economics as a subject deals with the allocation of scarce resources among humans with unlimited…

Q: Units of Units of Labor, L Capital, K 1 2 3 4 1 50.0 66.7 75.5 80.0 2 66.7 100.0 120.0 133.3 3 120.0…

A: Answer: option c (long-run; can both be varied) Explanation: In the long run, both labor and capital…

Q: The equation of the production function for calculators is q = 5KL + 30L, where q is total output, K…

A: Production function is done by 4 factors , land , labor , capital and entrepreneur , so here by…

Q: O LounchPad • Country A and country B both have the production function Y = F(K, L) = K/³L?/3. %3D…

A: A production function has constant return to scale if the inputs and the outputs change by the…

Q: does the isoquant map look like if there are 1)continuously increasing returns to scale;…

A: The return to scale can be shown diagrammatically on a development way "by the distance between…

Q: мса 32 If production conditions are such that a 10% increase in both the labour and capital inputs…

A: Production function shows the combinations of inputs that can be used to produce the output.

Q: The production function in the image uses a variable amount of labor and a fixed a mount of capital…

A: Production function states the functional relationship among input and output produced. In the…

Q: 1) Draw and label the AFC, AVC, ATC, and MC curves when FC = 0. Assume when the production level i…

A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…

Q: Does the production function 50 q = 1000L - exhibit increasing, decreasing, or constant returns to…

A: Production function refers to a functional relationship between input and output.

Q: Use the diagram of production function to explain why variable costs increases at a decreasing rate…

A: Cost are of production two types: Variable cost and the Fixed cost. Variable cost is the cost that…

Q: Q = 180√LK^0.8 L=5, K = 10 1)  construct marginal product of labour and marginal product of capital…

A: we have different formulas for different parts of this question  MPL = partial derivative of Q with…

Q: Q7. Provide your own examples for the questions below. a. An example for economies of scale using…

A: Economies of scale occur when the average cost of production decreases as output increases.…

Q: 3. The equation of the production function for calculators is q = 5KL + 30L, where q is total…

A: Given the information: q = 650 unitsq = 5KL + 30LK = 20 units

Q: 4.7 When to Use the Principle of Diminishing Returns? You are the manager of a firm that produces…

A: Return to Scale: The return to scale refers to the behavior of output when there is a change in all…

Q: Question 19 Consider the following graph of a production function when capital is constant. (The…

A: The correct answer to the above-mentioned question is MPL(L1, K)>MPL(L2, K).

Q: a. Is it possible to have diminishing returns to a single factor of production and constant returns…

A: a. The diminishing marginal returns to factor indicates the reduction in the marginal product of…

Q: 4. A firm producing cars. The production function for shoes (Q) is: Q = K"² L"² where K is capital…

A: Answer -

Q: Question 24 Consider the following production function when K is fixed. (This is a description of…

A: False, the production function does not satisfy the law of decreasing marginal returns to labor.

Q: Does the production function 10 q = 1000L – K exhibit increasing, decreasing, or constant returns to…

A: Production function: The link between the number of productive inputs (such as labor and capital)…

Q: Consider a short run production function q=7L+K  using L units of labour and K units of capital.…

A: Consider a short-run production function q=7L+K  using L units of labour and K units of capital. 1)…

Q: 2. (a) If a production function exhibits decreasing returns to scale and the quantity of all inputs…

A: Decreasing returns to scale (DRS) holds when a proportional increase in all inputs ends up in a rise…

Q: Solve for and graph this firm’s isoquant at q = 10. Please label three points along this isoquant…

A: Given q=x113x223            ...........  (1)

Q: Consider a short run production function q = cL+K,using L units of labour and K units of capital:…

A: Return to scale exhibits proportionate increase in productivity when there is change in all input by…

Q: F(L, K) = LK^3 and F(L,K) = L+3K for each of these production functions: a) draw the corresponding…

A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…

Q: Draw labeled graph according to the question: The change in the optimal capital-labor ratio if both…

A: If both the inputs(labour and capital) are perfect complements in production, they are to be used…

Q: Consider a short run production function   q=cL+k   where the value for c is 4, using L units of…

A: Returns to scale exhibits increase in proportionate output when there is change in all variable…

Q: Production Point Capital (K)  Labor (L) Output (Q) A 1 1 2 B 2 2   C 1 3   D 2 4   E 1 5   F 2 6   G…

A: Returns to scale can be classified into three categories; 1- Increasing returns to scale (IRS) 2-…

Q: root of K square root N Compute output when K = 49 and N = 81. If capital and labor double, what…

A: Given; Production function; Y=K0.5L0.5 where; K= Capital  L= Labor Output produced:-…

Q: 3. Suppose that the production function is Q-L7»K¢»_ a) What is the average product of labor holding…

A: Average product of labor = Q / L Marginal product of labor = dQ / dL Marginal product of capital =…

Q: What is the distinction between the laws and of returns and the returns to scale?

A:

Q: Assume that machine (K) and labor (L) can be used as perfect complements to perform some…

A: Given  Production function: Q=10min(K,L)           .... (1) Where K is  machine and L is labor

Q: Q2. Given a production function Q =f (K, L) = K+ 2L, both capital and labour are doubled, does this…

A: A production function shows the relationship between the inputs used and the output produced in a…

Q: Which among these production functions exhibit increasing returns to scale? (Clue: you should scale…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: 1. What is the fixed input use in this production? 2. What is the variable input use in this…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Assume that the production function for a firm is defined as: 5 2 3 1 Y = K L . Does this function…

A: The following problem has been solved as follows:

Q: Consider a Production Function given by the form z=F(K,L)=(K^(0.3) + L^(0.7) )^2 where K is the…

A: Production function shows the functional relationship between the output and inputs.

Q: Suppose the production function is Q = 8L + 15K where Q is the quantity of output, L is the quantity…

A: Since you have asked multiple questions, we will solve first question for you. If you want any…

Factors of Production

Factors of production – in simple words means the factors that are used for producing any product or service. This includes the resources which are necessary for the manufacturing of products. Factors of production are also known as the building blocks of the economy.