Q9) Complete the table and show your calculation No. of variable inputs Total product Marginal product of variable input Average product of variable input 3   18 30 4   20   5 130     6   5   7     19.5 Does the production function stated in the table given above exhibit diminishing returns? If so, at what no. of units of variable inputs do diminishing marginal return begin?

Q: Which of the following describes increasing returns to scale?     A. Long Run Average Total Costs…

A: The total cost of production refers to the monetary value of inputs used in the production of goods…

Q: Margeʹs Hair Salon production function is Q = f(K, L) = K0.5L0.5 where K is the number of hair…

A: As given Production function is Q = K0.5L0.5 Return to scale of production function is determined by…

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: H8. Which of the following production functions exhibit(s) constant returns to scale?​I. Q = Min…

A: There are CRS if the doubling the all inputs result in the double of 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: The production function feature called "increasing returns to scale" means that if we increase…

A: Meaning of Microeconomics: The term macroeconomics refers to that situation under which the…

Q: This problem is connected to module 10. Again, its purpose is to acquaint you with the summary…

A: The link between the number of productive inputs (such as labour and capital) used and the amount of…

Q: Determine the returns to scale implied by each of the production function. Q = 0.4Y1/2 +…

A: Q (Y,A,B) = 0.4Y1/2 + 0.3A1/4B1/4 + 2.0B1/2 To determine the returns to scale, we will multiply Y,…

Q: onsider the following production function: Q = 2K + 6L where K represents Capital, L represents…

A: Production function shows the different combinations of inputs that a firm uses in order to produce…

Q: Assuming that the production function [Y=A(K, L, N, H)] exhibits constant returns to scale we can…

A: In economics, the term "returns to scale" basically refers to the variation or change in…

Q: Consider this production function. Select one or more: a. The average product of labour is falling…

A: The production function shows combinations of inputs and outputs with the given level of…

Q: The following equations represent the long-run production functions for four different technologies,…

A: Production function exhibit increasing, decreasing and constant returns to scale.

Q: rising with output increase Long Run Average Total Costs are decreasing with output increase  Long…

A: Increasing returns to scale occurs when the output tends to increase in a greater proportion as…

Q: In the short-run, we assume that capital is a fixed input and labor is a variable input, so the firm…

A: The production function explains the relationship between the inputs and the resulted output. It…

Q: Consider the production of some output Q using capital K and labour L. a) Assume K is fixed. Draw a…

A: Production function refers to that function which provided maximum level of output for given level…

Q: What do constant returns to scale indicate that a firm is experiencing? an increasing marginal…

A: please find the answer below.

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: Consider the following production function: Q = 2K + 6L where K represents Capital, L represents…

A: The linear production shows inputs are perfect substitutes, meaning only one of them is used.

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. 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: (1) f(L, K) = ALªK!-a (2) f(L, K) = (min {iL, jK})²

A: Returns to scale refers to how much output changes given a proportional change in all inputs- where…

Q: The productivity of a manufacturing company is given approximately by the function f(x, y) = 20x…

A: Given: The production function for a company is: X = units of labor Y = units of capital To Find:…

Q: A motor vehicle assembly plant requires the use of both capital and labour. The Tesla manufacturing…

A: According to the law of diminishing returns when more units of variable input are used with a fixed…

Q: hen a production function exhibits constant returns to scale, it means that: A. a proportional…

A: Constant returns to scale production function means that the production function is…

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

A: Q = (200)L + (100)K – (0.2)L2 – (0.1)K2

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: 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: The following equations represent the long-run production functions for four different technologies,…

A: A production function is used to see the relationship between the inputs used by the firm and the…

Q: Determine whether the following production functions exhibit constant, increasing, or decreasing…

A: When increase in all inputs results in same proportional increase in output, production function…

Q: Given the linear production function: Log (Q) = Log (0.5) + Log (L) + Log (K) Where Q is the level…

A: Part a) Log (xy) = log (x) + log (y) Log (Q) = Log (0.5) + Log (L) + Log (K)  Log (Q) = log ( (0.5)(…

Q: Suppose the production function for widgets is given by q=kl-0.8k².0.21² where q represents the…

A: "Production function, in economics depicts the relationship between factor inputs and the amount of…

Q: What is correct about the relation between the production function and costs?   Question 10…

A: The correct answer is given in the second step.

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: Suppose that the output Q (in units) of a certain company is Q = 75K¹/32/3, where K is the capital…

A: Given information: Q=75K13L23

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: The production function for soy beans is q = K 0.25 L 0.45. Dose this production function have…

A: Given  Production function.  q = (K)^0.25 × (L)^0.45

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

A:

Q: In the short-run, we assume that capital is a fixed input and labor is a variable input, so the firm…

A:

Q: Which of the following production functions exhibits constant return to scale?

A: The production function exhibits constant returns to scale when there is a proportionate change in…

Q: The following equations represent the long-run production functions for four different technologies,…

A: To check whether the function exhibits increasing, decreasing or constant returns to scale, we…

Q: Production Function. Consider the Cobb-Douglas production function discussed in class: F(K, L) =…

A: Production function refers to a mathematical expression which states those capital-labor…

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: 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: In the short run, we assume that capital is a fixed input and labor is a variable input, so the firm…

A:

Q: From your knowledge of the relationships among the various production functions, complete the…

A: Total Product =Average product x Variable Input  Average Product = Total Product/Variable Input…

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.