If the fixed input is the two hectare of land and the variable input is fertilizer explain how the principle of diminishing return work in the outputs.

Q: Assume a Cobb-Douglas production function of the form: q = 10L0.24 K0.51 What type of returns to…

A: Return to scale define the level of production in the firm , so here we calculate the return to…

Q: Fill in the gaps in the table below. (Enter your responses rounded to two decimal places.) Quantity…

A: Step 1:The general formulas to determine the total output (TP), the marginal production cost of…

Q: Consider production function f(L, K) = 10VLK and input prices w :10,r = 90.

A:

Q: Q (6) If the average cost function for a particular economic project is as follows, find: a. The…

A: Marginal cost is the additional cost that is incurred in the production of additional units of the…

Q: The table below shows the weekly relationship between output and number of workers for a factory…

A: (a) Number of workers Output MPL 0 0 NA 1 50 50 2 110 60 3 300 190 4 450 150 5 590…

Q: Calculate the multifactor productivity in dollars per dollar for the following: 6660 units produced,…

A: Multifactor productivity is the measurement that compares the output with the total amount of inputs…

Q: If the production function is y=2L^2+3K^2 and L costs $4 per unit and K costs $5 per unit what is…

A: The production function is given to be :  y=2L^2+3K^2  MPK = marginal product of capital =…

Q: Drive the cost function from the following CES production function y = A(aLº + (1 – a)K")

A: CES Production function : y = A(aLp + (1-a)Kp)1/p For a firm an optimizing state of production where…

Q: A firm has the production function f(xr, y) = 20r³5 y25. The slope of the firm's isoquant at the…

A:

Q: Adam operates a factory that produces beach towels. His current level of output equals 2000 towels…

A: Fixed costs incorporate quite a few costs, including rental rent installments, compensations,…

Q: A firm has the following short-run production function: Q = 50L+6L2 -0.5L3 where Q = Quantity of…

A: here we  can find out the given things as follow

Q: When production function  q= 0.2 LK+ 2L2K- 0.05L3K and  K= 10 are given, find amount of labor at the…

A: Given that: Production function:  q= 0.2 LK+ 2L2K- 0.05L3K K= 10 find the amount of labor at the…

Q: Input Total Product 20 32 42 50 55 58 8. 58 56 1. From the table given above, answer the following…

A: AP is the average product which is the ratio of total product and input.MP is the Marginal product…

Q: When the quantity of a variable input is increased from 3 units to 4 units the total output…

A:

Q: For K > 0 andL > 0, the production function F(K,L) = 2KL + K has a. increasing returns to scale b.…

A: It has given that, K > 0 and L > 0 Now,F(K,L)=2KL+KAs K>0 and L>0lets assume K=2 and…

Q: A firm estimates its production function as Q = 2.4 + 30*L -.5*L2 + 30*K -1.00*K2 + 15*F -.3*F2.…

A: Q = 2.4 + 30*L -.5*L2 + 30*K -1.00*K2 + 15*F -.3*F2. Total cost is TC = $2.5*L + $2*K + $.75*F. w =…

Q: a) The production function q = 9KO.8LO.1 exhibi [ increasing returns to scale, constant return to…

A: Increasing returns to scale occurs when the output increases by a larger proportion than the…

Q: The production function f(L, K) =50k0.25 L0.75 exhibits increasing returns to scale. decreasing…

A: In economics, returns to scale measures the proportionality of change in output when the inputs are…

Q: Which of the following is an example of a Variable Cost? A. an employee who makes $40,000 a year B.…

A: Fixed cost is the cost that remain same at all levels of output. Variable cost is the cost the…

Q: Theoretically and mathematical prove that the slope of isoquant curve is equal to the ratio of…

A: An isoquant is a graph that depicts the many capital and labor combinations that a firm can utilize…

Q: Labor, L, and capital, K, are the only inputs in each of the following production functions: 91 =…

A: The production function is a relationship between the number of inputs (independent) that a firm…

Q: If a firm's production function is given by Q = K0.3L0.3 then it exhibits а. Decreasing returns to…

A: Returns to scale: - returns to scale, show the change in output due to the change in scale of…

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: 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: 1.3) The figure below depicts the production function of grain for farmers under average growing…

A: We will answer the first question since the exact one was not specified. Please submit a new…

Q: A firm has the production function f(x, y) = 20x1/5 y4/5. The slope of the firm's isoquant at the…

A: A production function is a mathematical equation that expresses the relationships between the number…

Q: Suppose that workmen are assembling a particular product for 40 working hours. Then they work on…

A: Learning curves capture the benefit that arises when workers and organizations get efficient at…

Q: If a firm has a constant returns to scale production function F(K,L), then the break even price does…

A: Return to scale: Returns to scale is a term used in economics that shows when the output level of a…

Q: onsider a short run production function q = cL+K where the value for c =: sing L units of labour and…

A: Returns to scale measures the proportionate change in output if all inputs are changed by the same…

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: Q2. Determine the returns to scale of the following production function: Hand written plzz Y = 5K0.5…

A: Returns to scale: - returns to scale show the change in output due to the change in scale of…

Q: In detail, What is one example of a non-linear cost function and explain what factors cause the…

A: A cost function whose graph of total cost within a relevant range is not a straight line is defined…

Q: Siven the production function Q = L0.75 K0.25 . If the fixed quantity of capital in the short run is…

A: In the short run, the production function is assumed to have a fixed capital. So, if a firm uses two…

Q: m estimates its production function as Q = 2.4 + 30*L -.5*L2 + 30*K -1.00*K2 + 15*F -.3*F2. Total…

A: Q= -2.4 + 20L - 0.5L2 + 30 K - K2 + 15F - 0.3F2 TC = 2L + 2.5K + 1.75F w = 2, r = 2.5, f=1.75 (the…

Q: Given: Y = 20(L.5K.4N.1) L is labor K is capital N is land L = 100 K = 100 N = 100 Does this…

A: Given data. Y = 20(L.5K.4N.1

Q: Which of the following production functions do not exhibit constant returns to scale? A. F(K, L)= AK…

A: Introduction Returns to scale refers to the how much output changes given a proportional change in…

Q: The ff are true about economies of scale except one a. It is concept in cost function b. Costs…

A: Economies of scale arises from efficiency in labor productivity which causes long run average cost…

Q: How would you determine that a two-input Cobb-Douglas production function has decreasing returns to…

A: Answer to the question is as follows :

Q: 15) For any cost function, you can find min ATC by etting ATC = and solving for q. %3D

A: Average total cost = total cost/ quantity

Q: c) Show that the following production function exhibits increasing returns to scale Q = 20K*L² Where…

A: Returns to scale is a long-run concept, during this time interval both the capital and labor can be…

Q: Isoquants are convex because... a. Both factors are subject to increasing returns. b. Both factors…

A: In economics, isoquant curve is usedd to represent the relationship or trade-off between two input…

Q: Answer the question on the basis of the following cost data. Output Total Cost $ 24 33 1 2 41 3 48 4…

A: We can calculate the Average total Cost by using following formula Average total cost = Total…

Q: - production function is given by: Q (K.L) min ven this production technology, returns to scale…

A: Return to scale depicts relationship between the input and output. Return to scale can be increasing…

Q: What is the parameter in the production function in the following equation? F(K,N) = K®N} a A. N O…

A: F(K,N) = KaN1-a

Q: A rainfed wheat farmer has available Rs.200. What will be the slope of iso-outlay line when, price…

A: A firm minimizes its cost of producing a given level of output by producing at a point where the…

Q: When there are diminishing returns to a factor the total product always decreases 1)True 2)False

A: According to the given question Diminishing returns to a factor is basically caused by when the…

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.