Joe’s coffee house produces coffee drinks under the production function q = 5KL where q is the number of cups generated per hour, K is the number of coffee machines (capital), and L is the number of employees hired per hour (labor). What is the average product of labor(APL)? A. APL = 5 B. APL = 5K C. APL = 5L D. APL = 5K/L

Q: Consider the following production function: Q = 2K + 5L. The price of capital is €10 per unit and…

A: Production function: Q = 2K + 5L The above production function states that inputs K and L are…

Q: Consider the following production function: Q = 2K + 5L. The price of capital is €10 per unit and…

A: As per the question ,…

Q: A firm can manufacture a product according to the production function:Q=F(K,L)=K^(3/4)…

A: The production function is given as: The average product of labor is calculated by dividing the…

Q: Consider the production function Q = 4L0.4K0.5 where Q is the total output, L is labour and K is…

A: Production function shows the different combinations of factors of production that can be used to…

Q: Dmitri's pizza restaurant uses a combination of workers and ovens to produce pizzas. The total…

A: Given  Production function: q=4K0.5L0.5            ... (1) Where q is the quantity of pizza produced…

Q: Which of the following statements is FALSE? At point "A", the average product of labor is falling.…

A: In the first stage, AP increases at an increasing rate and MP also increases at an increasing rate…

Q: If a firm uses labor to produce output, the firm’s production function depicts the relationship…

A: Answer- the number of workers and quantity of output.

Q: Explain the consequences to the farmer if the production function for milk were a linear function of…

A: The production function is the total amount of output which would result in the maximum amount of…

Q: Suppose the production function is given by Q = 5K - 3L What is the average product of capital when…

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Q: Given the production function for labor and capital: Q = L^½(K^½), and q = 100. If the firm wants…

A: Production function:- Production function can be defined as an economic equation that represents the…

Q: Provide a graph and an explanation to show that the production function Q = L.5K.5 has diminishing…

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Q: Consider the production function Q = 32K L (a) By dividing by L, find the Average Product of Labour…

A: The production function is the combinations of the labor and capital which are required to produce…

Q: Combination of capital and labor necessary to produce a given level of output is .called

A: Capital and labor are given as inputs here.

Q: A shoe factory has 500 employees and produces a thousand pairs of shoes per hour. What is the shoe…

A: Here, given information is: Number of employees= 500 Total output= 1000 pairs of shoes per hour

Q: Explain the concept of a production function. Describe the production function for hamburgers,…

A: The inputs that are used in the production process are known as the factors of production. The four…

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

A: Marginal Product of Labor (MPL) represents the change in total output resulting from employing an…

Q: Given the production function Q = min (4K, 3L), what is the average product of capital when a units…

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Q: With a Cobb-Douglas production function of Y= K$L$, What are the marginal product of capital and the…

A: Y = K25L35

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: The production function is the relationship between the maximum amount of output that can be…

A: A production function represents how firm transforms inputs into outputs.

Q: The equation below is a production function,   Q = (200)L + (100)K – (0.2)L2 – (0.1)K2     , where…

A: Production function, Q = 200L + 100K – 0.2L2 – 0.1K2To find the marginal productivity of labor…

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: In Example 6.4, wheat is produced according to the production function: q = 100 (K0.5L0.5).…

A: The technological relationship between quantities of physical inputs and quantities of products…

Q: You manage a store that mass-produces candies by teams of workers using assembly candy machines. The…

A: Q = 3KL  Where , Q = quantity produced of candies in thousands  K = Capital /Machine  L = Labor…

Q: If a firm has 5 units of capital, 10 units of labor, and the production function is  Q = 4L + 3K…

A: The average product of capital is nothing but the output per unit of capital.

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: Suppose a firm has a Cobb Douglas production function and is initially producing 50 units of output…

A: The Cobb-Douglas production function formula for a single good with two factors of production is…

Q: Consider a production function Q = (K.5 + L.5) 2    Does this production function exhibit…

A: Q=(K0.5+L0.5)2..... (1)Now, In order to check for returns to scale, multiply the variables K and L…

Q: 10: Consider a car manufacturer which uses capital K and labor L to produce q cars according to the…

A: Given, r = 3 w=1 q=f(L, K)=L18K38

Q: Company Z has the following data corresponding to the production function. Where (L) is the amount…

A: Given Q=K0.4L0.6            ... (1)

Q: Suppose the production function of an item is Q = 3L + 2K. When the inputs are doubled in this…

A:

Q: 1. The production function for the personal computers of DISK, Inc., is given by q =…

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Q: Suppose the production function is given by Q = 5K + 3L. What is the average product of capital when…

A: Given: The production function is:  Q = 5K + 3L

Q: Suppose the production function is given by Q= SK + 2L. What is the marginal product of capital when…

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

Q: Q2. The economist for the ABC Truck Manufacturing Corporation has calculated a production function…

A: We have  Production function: Q=1.3L0.75K0.3             .... (1) Also Labor Capital 100 50…

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: Consider the following production function when K is fixed. (This is a description of the figure: it…

A: To determine whether the given production function shows diminishing marginal product of labor or…

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

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Q: WickCo makes decorative candles, and its production function is given as Q = K + L, where K is the…

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Q: Given the production function Q(K,L) = 96K^0.3L^0.7, find the MPK (i.e. Marginal Product of Capital)…

A: MPL is the extra output generated per additional dollar or rupees spent on labour MPK is the…