Solve for marginal product (MP) given the following If x = 25 units, Total Product  = 100 units; if x is increased to 50 units, TP = 75 units

Q: Beginning with a capital input of 4 and a labor input of 49, show that the marginal product of labor…

A: q = 100 x K0.75L0.25 Marginal product of labor, MPL = dq / dL = 100 x 0.25 x (K / L)0.75 = 25 x (K /…

Q: Suppose the hourly wage is $20 and the price of each unit of capital is $2. The price of output is…

A: The firm maximizes profit by hiring the number of workers at a point where MPE = w/p

Q: Consider a firm who owns capital K and has the following production technology Y = zF(K, N)= 2K³N³,…

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

Q: Draw the total physical product curve on graph below. . Beyond what number of workers do diminishing…

A: Here we have to find,  A firm produces good X with just two factors such as capital and labour .…

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: Assuming labor is the only variable factor and paid at a constant wage rate ? show that the average…

A: The productivity metrics (TP, AP, and MP) and the cost measures have some significant correlations.…

Q: Suppose that a firm has the following production function Q(K,L) = AKL² – BL³ where K represents…

A: We are going to answer the question by calculating marginal product of labor using differentiation…

Q: You are given the production function: Q(k,L)=10KaLB a) What is the average product of labour,…

A: Average product of labor (APL), is total product (TP) divided by the total quantity of labor.

Q: If we assume that labor is the only variable input, the slope of the short run total product curve

A: Marginal Product of labour is defined as the increase in total production of the company when one…

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: Whenever the total factor cost function and the total value of the product function are parallel to…

A: In the market, total cost curve depicts the amount of money used by the firm to make production…

Q: A firm's marginal product of labor is 5 and its marginal product of capital is 4. If the firm adds…

A: Marginal product to labor = 5  Marginal product to capital = 1

Q: the total product of two workers is 80 and the total product of three workers is 90, then the…

A: The given information can be summarised in the following table :- Workers TP MP AP 2 80 - 40…

Q: Suppose that a firm has the following production function Q(K,L) = AKL² – BL³ where K represents…

A: Given: The production function of a firm- Q (K, L) = AKL2 - BL3 A company has- 1200 units of capital…

Q: hire any more workers? She estimates that the additional workers would generate the following…

A: The following problem has been solved as follows:

Q: Fill in the blanks in the accompanying table shown at the bottom of page and answer the following…

A: Hello, thank you for the question. Since there are multiple sub-part questions asked here, only the…

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: Suppose that you are the Production Manager of Mini Me, Inc., and you have estimated the…

A: The marginal product of labor (or MPL) refers to a company's increase in total production when one…

Q: For a linear production function what is the short-un production function given that capital is…

A: Given information: q=f(L,K) = 10L + 4K Where q is the quantity produced; L is labor; K is capital…

Q: Which of the following statements is (are) correct? (x)  Economists distinguish between short run…

A: Short run and Long run are related to the time period of a business or firm.

Q: Q = 180√LK^0.8 L=5, K = 10 1)  construct marginal product of labour and marginal product of capital…

A: we have different formulas for different parts of this question  MPL = partial derivative of Q with…

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: 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: Question 3 The board of a firm wanted to get value for money by employing the right number of…

A: We are going to use single variable maximisation method to answer this question.

Q: Answer the following questions clearly in computer-typed print with Make sure you label your graphs…

A: The isoquant reflects the different consumption combination of two inputs (L and K) that a firm can…

Q: Refer to the figure at right. At which point on the total product curve is the average product of…

A: Total product refers to total output produced by the firm. Average product refers to total product…

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 the production function F(K,L) = In(K*L). What is the marginal product of capital equal to…

A: Given  Production function: F(K,L)=lnKL             ... (1) We have to calculate MP of capital at…

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: F(L, K) = LK^3 and F(L,K) = L+3K for each of these production functions: a) draw the corresponding…

A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…

Q: If a firm's marginal product of labour is less than its average product of labour, then an increase…

A: Average product of labor is the total product divided by the quantity of labor employed.  Marginal…

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: For each of the following examples, draw a representative isoquant. What can you say about the…

A: Marginal rate of technical Substitution is the slope of isoquant curve. And it is denoted by  MRTS =…

Q: Consider the production function Y = K1/2 N12 a. Compute output when K = 49 and N = 81 b. If both…

A: Plugging given values, Y = (49)1/2 x (81)1/2 Y = 7 x 9 Y = 63

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: Solve the attachment.

A: Marginal product of labor shows the change in output due to employment of an addition unit of labor.…

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: You are given the production function: Q(K,L)=10KαLβ Does the above function exhibit increasing,…

A: The since long run alludes to a time-frame where the production function is characterized based on…

Q: What do economists mean by "deminishing returns" to an input? What causes diminishing returns? Where…

A: Diminishing Returns It means when we employ one additional unit of variable factor then the marginal…

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 an economy characterized by the production function Y = ĀK2 L"2 where the productivity…

A: PRODUCTION FUNCTION =  Y = AK1/2L1/2

Q: A certain production process employs two inputs--labor (L) and raw materials (R). Output (Q) is a…

A: Given total production function,  Q=6L2R2-10L3R3                ............ (1) Since R is fixed at…

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…

Q: The AC curve is U-shaped because of the declining AFC and the effects of the diminishing marginal…

A: The average cost is the per-unit cost that is equal to the total cost divided by the number of units…