If a production function shows declining marginal product of an input as the quantity of the input increases, then the production function exhibits

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: The law of diminishing returns happens when each additional unit of a variable input results in a…

A: The law of diminishing returns is also known as law of variable proportion. It is applicable on…

Q: If a firm is operating on the production function, then workers A. must be putting forth maximal…

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

Q: Suppose the firm short run production function is a quadratic one in the form: Q = 2L+ 0.25 L2, the…

A: In the short run profit maximizing condition is that where MPN = W/P which means the firm will hire…

Q: F(L, K) = (min{L, K})^1/3 i. Calculate the marginal product for each input, and indicate whether…

A: Marginal product of labor is rise in production value for unit rise in labor. Similar for marginal…

Q: Production Function with Two Inputs Assume that a firm choose K and L inputs. At the start of a…

A: Given information Y=ALαKβ Price is paid to Labor=W Price Paid to capital=r Total cost=LW+Kr

Q: The production function is given by Q = KĀLĀ a. Derive the marginal product of capital. Consider a…

A: Production function states a functional relationship between the level of inputs and the output…

Q: For a short run production function q=10lnL if L=2 the extra labor needed to increase output by one…

A: The production function is distinctively characterized inside the short run and over the lengthy…

Q: Diminishing marginal product explains why, as a firm’s output increases.a. the production function…

A: Diminishing marginal product implies as more and more units of a given factor of production are…

Q: Quantity of variable input Total output Marginal product of variable input Average product of…

A: In the process of production , we usually observe the law of diminishing marginal returns. The…

Q: When average variable cost is at a minimum, Multiple Choice   marginal cost is at a maximum.   the…

A: Option D When AVC is at a minimum, APL is at maximum AVC and AP are inversely related.

Q: When the marginal product is greater than the average product, the average product is . .. . .. ..…

A: In a market when a firm produces output using variable inputs, there is a connection between total…

Q: Consider the following short run production function of a textile manufacturing: Q = 6L2 -4L 3 a)…

A: Given: The short-run production function of a textile manufacturing: Q = 6L2 -4L 3 Average product…

Q: Which of the following is NOT an assumption of the production function?   Labor used in production…

A: A production function is a unique relationship between inputs and outputs that shows the maximum…

Q: Include correctly labeled diagrams, if useful or required, in explaining your answers. A correctly…

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

Q: A firm has a short run production function: Q = 16L^(1/2) where q = units of output, L = units of…

A: Answer: Given, Production function: Where, Q=units of output and L=units of labor The expression…

Q: Include correctly labeled diagrams, if useful or required, in explaining your answers. A correctly…

A: We are going to use Marginal returns to a factor and Marginal Cost relationship to answer this…

Q: Find the marginal rate of technical substitution for inputs k and 1 of this production function q =…

A: Production function: q = k + l Where q is quantity  k is capital  l is labor ----------------------…

Q: When production function  q= 0.4 LK+ 3 L^2K- 0.07 L^3K and  K= 12 are given, find amount of labor at…

A: The production function in short-run will be given as below if the value of K (capital) = 12 (fixed…

Q: True or False? This marginal cost function is the derivative of the production function.

A: We have, Cw1,w2,y=w113+w2133y2 The marginal cost  MC = Cyw,y It means the C(w1,w2,y) function is…

Q: • Consider a production function f(r1, 12) = min{r1, 12}: When r1 < r2, please calculate the…

A: the marginal product or marginal physical productivity of an input is the change in output resulting…

Q: A firm producing cars. The production function for shoes (Q) is: Q = K'² L2 where K is capital and L…

A: Given: Q=K1/2L1/2 Price of K=$8 Price of L=$2

Q: 1.    A firm’s production function is Q = L1/2 K1/2 They have 16 units of capital (which is fixed in…

A: Inputs are resources that benefits the production unit in developing goods and services. In the…

Q: Consider the following production function, Q = KL where Q represents output, K represents units of…

A: Production function:  Q = KL Q = output K = units of capital L = units of labour Marginal…

Q: A firm faces the production function: q=10L^0.32 K^0.56  (a) What kind of returns to scale does…

A:

Q: If an increase of an equal percentage in all factors of production increases output by the same…

A: The marginal product of labor (MPL) represents the effort put by the labor resource in the…

Q: Your firm is producing a unique product and the marginal product with respect to x1 in your function…

A: Law of diminishing marginal returns says that when one additional unit of any one of the factors of…

Q: Question 11 Consider a call center with production function f(L,K)=30L+300K, where L is units of…

A: Given,Production function f (L, K) = 30L+300KWhere, L is the units of labor and K is the units of…

Q: If output q= 4(√L) then marginal product of L( the slope of the q function) is ........ and when L=9…

A: The marginal product of labour is the increase in output that occurs when an additional unit of…

Q: Given the production function, the portion of the total product curve,  which is concave upward…

A: In an economyz production possibility curve shoes the trade-off between two products to be produced…

Q: Suppose the production function is given by Q = 3K + 4L. What is the average product of capital when…

A: Average Product of Capital = Total Output/Capital Q = 3K + 4L We know K=5 and L=10 So Q = 3*5 + 4*10…

Q: which of  the following functions satisfy the following properties: i) Increasing in both inputs.…

A:

Q: The production function has the following form q= K + 2L where q is output, K is capital input and L…

A: Answer: Given, Production function: q=K+2Lw=5v=2q=6 units The following condition must satisfy to…

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: Given a production function with a specific amount of fixed resources and one variable resource,…

A: The total product refers to the total output produced by the firm with the given resources and…

Q: The production function stated as Y = f(K,L), where, Y is output and K and L  are capital and Labor,…

A: The production of goods and services is dependent on the quantity of input used in the production…

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: The average product of labour is diminishing when: The marginal product of labour is diminishing. а.…

A: The firms, and businesses tend use various factors of production, and raw materials in order to…

Q: Catalina Films produces video shorts using digital editing equipment (K) and editors (L).  The firm…

A: Dear student, you have asked multiple sub-part questions in a single post.In such a case, I will be…

Q: You are given the production function: Q(K,L)=10KαLβ What is the average product of labour, holding…

A: Production function:  Q(K,L) = 10KαLβ

Q: The production function q = 9K0.8L0.1 exhibits: a. increasing retruns to scale  b. constant…

A: The relationship between ou&gt;tput and proportional increase in all the inputs is referred to as…

Q: When the law of diminishing returns takes effect   a. a firm must always try to add the same…

A: The Law of diminishing returns is a short-run concept.  It states that in the short run, when one…

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: The law of diminishing marginal returns states: Select one: a. As a firm uses more of a variable…

A: Economics deals with the supply and demand of resources. Firms emerged as primary bodies responsible…

Q: Consider a short run production function q=5L+K, using L units of labour and K units of capital.…

A: Production function is a function which shows the relationship between the output and the number of…