Suppose the production function is Q = 8L + 15K where Q is the quantity of output, L is the quantity of labor used in production, and K is the quantity of capital used in production. What can be said about this production function? It has Decreasing Returns to Scale It has Constant Returns to Scale It has Increasing Returns to Scale There isn’t enough information to determine the Returns to Scale for this production function

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: 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: Use the following information on a hypothetical short-run production function to answer questions…

A: The law of diminishing marginal returns states that, in a production process, the successive…

Q: shoes (Q) irm producing car labor. The price of K is $8 and the price of L is $2. production vhere K…

A: A firm producing cars. The production function for shoes is :        Q= K1/2 L1/2 .…

Q: 1. (Module 54) The production function for gadgeadoodles uses a variable amount of labor and a fixed…

A: The short-run production function for a firm is:  Q =f(L,K)¯Where K is constant and L is variable…

Q: 2. Suppose that a firm uses both labor (L) and capital (k) as inputs and has the long-run production…

A:

Q: Suppose an automobile manufacturer is choosing between two production options. It can produce 100…

A:

Q: Which of the following production functions exhibits decreasing returns to scale? A) Q=K^1/2 L^1/2…

A: Returns to scale are used to describe how production scale changes when all the factors of…

Q: Suppose a firm produces cars and the minimum efficient scale is 2,000,000 cars. The inputs are labor…

A:

Q: Interpret the diagram below and discuss your understanding of the concept of the inflexibility of…

A: In different time the behaviour of input changes like in short run only one factor is changeable…

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: The equation of the production function for calculators is q = 5KL + 30L, where q is total output, K…

A: Production function is done by 4 factors , land , labor , capital and entrepreneur , so here by…

Q: The production function in the image uses a variable amount of labor and a fixed a mount of capital…

A: Production function states the functional relationship among input and output produced. In the…

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: A firm faces the production function: q=10L^0.32 K^0.56  (a) What kind of returns to scale does…

A:

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: Q7. Provide your own examples for the questions below. a. An example for economies of scale using…

A: Economies of scale occur when the average cost of production decreases as output increases.…

Q: 3. The equation of the production function for calculators is q = 5KL + 30L, where q is total…

A: Given the information: q = 650 unitsq = 5KL + 30LK = 20 units

Q: Question 5 Which of the following production functions exhibit increasing return to scale?…

A: There are three types of returns to scale- Increasing returns to scale The constant return to…

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

A: Answer-

Q: 4. A firm producing cars. The production function for shoes (Q) is: Q = K"² L"² where K is capital…

A: Answer -

Q: 2. A firm has a production function given by the following table: Units of Labor 1 2 3 4 5 K=1 15…

A: Diminishing marginal returns occur when an increase in Labor led to increasing in output at…

Q: hi  Suppose you build bird houses. One day, you double the time you spend building and double the…

A: Consider the definition of returns to scale. When we change all factors of production by a certain…

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: Do the following production functions have increasing, decreasing, or constant returns to scale?…

A:

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: 2. A firm has a production function given by the following table: Units of Labor 1 2 3 4 5 K=1 3 8…

A: Diminishing marginal returns occur when an increase in Labor led to increasing in output at…

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: 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: 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: Please only answer d Consider the following Cobb-Douglas production function: Y = 10 L^0.4 K^0.4.…

A: Answer - Need to find- Effect on the total costs when wage increase from 20 to 30    Given wage Bill…

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: Q = A Lx Ky  (Quantity, A, Labor, Capital) If A; X; Y are all positive numbers, does the…

A: The production function exhibits Increasing return to scale, Constant return to scale or Decreasing…

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: Suppose that a production function for labor (L) and capital (K) is given by: q(L,K) = L K0.2  .…

A: q(L,K) = L K0.2   To find if it is increase, constant or decreasing returns to scale multiply both…

Q: Question 5 Which of the following production functions exhibit increasing return to scale?…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: 72. The resulting increase in the total output as X and Y inputs increase per unit at a time is…

A: The production function refers to functional relationship between the factors of production (or…

Q: 1. What is the fixed input use in this production? 2. What is the variable input use in this…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: 5. The production function for gadgeadoodles uses a variable amount of labor and a fixed amount of…

A: Production function refers to the quantity of physical product or output to the quantity of factor…

Q: Consider a Production Function given by the form z=F(K,L)=(K^(0.3) + L^(0.7) )^2 where K is the…

A: Production function shows the functional relationship between the output and inputs.

Q: 3. An electronics plant's production function is Q = 5LK, where Q is its output rate, L is the…

A: Given:- Here we have, Q=5LK, where labour = L=$1 per unit and capital = K=$2 per unit also Q=1000…