Question 14 Consider a newspaper with production function f(L,K)= 4min{L,K}, where L is the units of labor and K the units of capital they use. Denote by APL(L,K)=f(L,K)/L the so-called average product of labor (here f is the production function of the firm). Is the Average Product of Labor always equal to the Average Product of Capital for this firm? No. Yes.

Q: The first two columns in the following table give a firm's short-run production function when the…

A: Given:- Price of capital=$2000 Price of labor=$500 Capital constant at 5 units

Q: Suppose that the production function for DVDS is given by Q = KL2 - L3, where Qis the number of…

A: As per the question, Q=KL2-L3. When K=600, this production function can be written as Q=600L2-L3.…

Q: Which of the following can we conclude when production has economies of scale? Marginal cost…

A: please find the answer below.

Q: 1. A firm producing hockey sticks has a production function given by q = 2Vkl The price of labor is…

A: Given information q=2KL Price of labor=W Price of capital=V Short run cost function SC=Wq24K1+VK1…

Q: Consider the following production function: Q 3K + 6L where K represents Capital, L represents…

A: Since you have posted multiple question, as per answering guideline, we will solve first question…

Q: A firm operates with the following Cobb-Douglas production function where Q is output, L is labor…

A: Given the production function  Q=5L13K23   .............(1) The wage of labor = $40 per  hour  rent…

Q: Suppose a firm’s production function is given by q = 2KL + L  , where K is capital and L is labor.…

A: q = 2KL + L  K = 5 Average product of labor = Total product / Labor

Q: Consider a firm whose production function is f(L,K)=ALaKb. Denote by APL(L,K)=f(L,K)/L the so-called…

A: The production function is given as;

Q: Suppose a soap-manufacturing production process is described by the following  equation: Y = a + b…

A: The marginal product of labor measures the change in output due to change in labor. Mathematically,…

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: Q2: Suppose that a firm's production function of output Q is a function of only two inputs, L and K…

A: As given Q = L + 4K , W = 5 and r = 25 also Given Q =100

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: 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: Imagine that the production function for tuna cans is given by Q = 6K + 4L where, q = output of tuna…

A: Rate of technical substitution refers to the ratio of marginal product of labor to marginal product…

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: 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: 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: Explain why an increase in the price of an input must typically cause an increase in the long-run…

A: As we know in long run , firms can increase both factors simultaneously and due to this firm…

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: 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: Consider the following Cobb-Douglas production function: Y = 10L04K04. Suppose that the price of…

A: since you have asked a multipart question and according to our policy we can only solve the first 3…

Q: Consider the production function: Y=Z*F (K,L,A) where Y is output, z is technology, K is capital,…

A: Answer-

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: 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: Suppose a firm’s production function is given by q = 2KL + L  , where K is capital and L is labor.…

A: The average product of labor is nothing but the total product per unit of labor.  APL = TP / L

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: Constant return to scale refers to when there is equal increase in output to increase in input…

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: 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: A fixed input is one: Select one: a. that can never produce more or less in any period. b. that only…

A: In a broad sense, there are two types of inputs (factors) used in the production i.e. fixed input…

Q: Using the information given in the table, draw the isoquant corresponding to an output level of 135.…

A: output of 135 can be produced by following combinations of labor and capital:

Q: A firm that employs labor and capital has production function q = LK. What returns to scale does the…

A: Q=LK the above production function exhibits q=lk where, Q= quantity of output L= Amount of labor K=…

Q: The simple (and silly) production function q = K/2 L-/2 (where q is output produced, and K and L +…

A: a production function gives the technological relation between quantities of physical inputs and…

Q: A small clothing manufacturer employs a production method that is approximated by the following…

A: The production function shows the relationship between the output and inputs. In other words, it…

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: 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: Suppose a firm's production function is given by: q = 2KL, where q is output per week and K and L…

A: For an isoquant, combinations will give the same level of output. So, substitute the given options…

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…

Q: Q3, A firm operates with the following Cobb-Douglas production function where Q is output, L is…

A: Given information Production function Q = 5(L1/3K2/3) Wage rate= $ 40 per hour Rent=$10 per hour The…

Q: For its current level of production, a firm is attempting to minimize its costs. The firm has…

A: The marginal product of labor is 10 =>MPL=10 ------- The marginal product of capital is 20…

Q: suppose Mark operates the production of lawnmowers at Mark Mowers and Bros. Using inputs like labor…

A: The given production function Q=500*min (L,7K) is a perfect complement production function. It…

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: 20.3 (0) A firm uses labor and machines to produce output according to the production function f(L,…

A:

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…