Use the diagram of production function to explain why variable costs increases at a decreasing rate and then increases at an increasing rate.

Q: Draw the production function graph illustration the three stages (diminishing returns) in the…

A: Incrementing returns, falling returns and negative returns are the three stages of production. The…

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

A: please find the answer below.

Q: Q = AKBLa is a cobb doulas production function which is homogenous function of degree 4. Of what…

A: Production function refers to the functional relationship between the given input and the achieved…

Q: Is it possible to increase the labor productivity (output per unit of labor) in a given production…

A: Labor is said to be productive when the output per unit labor increases overtime. Diminishing…

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

A: The production function given is a short-run production function as one factor of production (labor)…

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: Joe’s coffee house produces coffee drinks under the production function q = 5KL where q is the…

A: Production function shows the functional relationship between inputs and outputs. Average product of…

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

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

Q: Question 5 Show that if a production function exhibit constant returns to scale, then the cost…

A: Constant returns to scale means when inputs increases by some percentage then output increases by…

Q: Which of the following production functions exhibit constant returns to scale? In each case y is…

A: Given: The production functions are: 1y=K12L132y=3K12L12(3)y=k12+L12(4)y=2K+3L

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

A: Meaning of Law of Variable Proportions: The term law of variable proportions refers to the…

Q: Using illustrations/diagrams, show the relationship between production function and MPL (Marginal…

A: Production function is the technical relationship between inputs and output.  Marginal product of…

Q: The following table gives the output achievable for various combinations of inputs. There are only…

A: Isoquant shows all the possible combinations of inputs that provide the same amount of output.

Q: F(Kt, Lt, At) Explain through example how diminishing marginal products can occur in the production…

A: Constant returns to scale means diminishing returns to factor. The second derivative of marginal…

Q: Define production function

A: Production is the process of merging numerous material and immaterial inputs (plans, information) to…

Q: If an increase of an equal percentage in all factors of production increases output by the same…

A: The marginal product of labor (MPL) represents the effort put by the labor resource in the…

Q: Does the production function 50 q = 1000L - exhibit increasing, decreasing, or constant returns to…

A: Production function refers to a functional relationship between input and output.

Q: Assume that the marginal cost of production is less than the average variable cost. Can you…

A: Average Variable Cost refers to the variable cost per unit of output. It can be calculated by…

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: Question 19 Consider the following graph of a production function when capital is constant. (The…

A: The correct answer to the above-mentioned question is MPL(L1, K)>MPL(L2, K).

Q: Underground Sandwiches, a sandwich shop, has the following marginal product curve (labeled MP) for…

A: Total product is calculated in the below table. When labor increase from two to three workers, the…

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

A: Answer-

Q: Does the production function 10 q = 1000L – K exhibit increasing, decreasing, or constant returns to…

A: Production function: The link between the number of productive inputs (such as labor and capital)…

Q: 1. Show that the two-input Cobb-Douglas production function used in this lecture has DRS, CRS or IRS…

A: As asked Q1 is solved below: To show that two input Cobb-Douglas production function has IRS, DRS…

Q: Graph the change on the production function when a firm decreases its labour

A: Production function shows the relationship between output and number of labor employed. Change in…

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: Draw labeled graph according to the question: The change in the optimal capital-labor ratio if both…

A: If both the inputs(labour and capital) are perfect complements in production, they are to be used…

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: Maria produces pizzas using labor, an oven, and flour. When Maria uses 4 workers she can produce 100…

A: The condition that communicates the connection between the amounts of useful elements (like work…

Q: Define Production Function, Marginal Product, and Diminishing Marginal Product

A: The production of a quantity is associated with different factors in an economy. The process used to…

Q: Find the marginal product of capital for the following production function and show if it has…

A: Returns to scale explain how production evolves over time in response to an increase in all inputs.…

Q: a. Isoquants can be convex, linear, or L-shaped. What does each of these shapes tell you about the…

A: The three criteria can be explained as: The convex shape isoquant- The nature of the production…

Q: What is the law of diminishing marginal product, In which stages of production it manifest and What…

A: According to the rule of decreasing marginal returns, any manufacturing process will reach a point…

Q: What kind of returns to scale does this production function exhibit? f(z1, za) = z1(z2 - 8) for 21 >…

A: f(z1,z2) = z1(z2-8) z1>0 z2>8

Q: What is the distinction between the laws and of returns and the returns to scale?

A:

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: Q2. Given a production function Q =f (K, L) = K+ 2L, both capital and labour are doubled, does this…

A: A production function shows the relationship between the inputs used and the output produced in a…

Q: Give an quantitative example of marginal and average cost.

A: Average cost is the equivalent of total fixed cost (TFC) and total variable costs (TVC) divided by…

Q: oj Consider the Cobb-Douglas production function P(L, K) total units of production when 19 units of…

A: Here we calculate the total unit of production of the given Cobb-Douglas production function by…

Q: Explain Linearly Homogeneous production function with the numerical example.

A: