What is the marginal physical productivity (MPP) of the inputs given thefunction Q = 18z7 + 2x1#2 + 2x3?Select one:O a. MPP = 36x1 + 2x2MPP, = 2x1 + 4x2ОБ. МP, — 36+ 2г2 +2MPP, = 2x1 + 4x2%3D%3DO. MPP,36x1 + 2x1%3DMPP, = 2x1 + 4x1%3DO d. MPPMPP, = 2x2 + 4x236z1 + 2x1%3D%3D

For marginal products of each input we need to take partial derivative of Q with respect to x1 and…

What is the marginal physical productivity (MPP) of the inputs given the function Q = 18z7 + 2z1#2 + 2x3? Select one: O a. MPP, = 36z1 + 2x2 MPP, = 2x1 + 4x2 %3D ОБ. МP, — 36+ 272 +2 MPP, = 2x1 + 4x2 Oc. MPP = 36x, + 2x1 MPP, = 2x1 + 4x1 %3D %3D O d. MPP, = 36z1 + 2x1 MPP, = 2x2 + 4x2

What is the marginal physical productivity (MPP) of the inputs given the function Q = 18z7 + 2z1#2 + 2x3? Select one: O a. MPP, = 36z1 + 2x2 MPP, = 2x1 + 4x2 %3D ОБ. МP, — 36+ 272 +2 MPP, = 2x1 + 4x2 Oc. MPP = 36x, + 2x1 MPP, = 2x1 + 4x1 %3D %3D O d. MPP, = 36z1 + 2x1 MPP, = 2x2 + 4x2

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter9: Production Functions

Section: Chapter Questions

Problem 9.8P

See similar textbooks

Related questions

Q: Use the following table to answer the questions below. Number of chefs Number of pizzas produced…

A: Marginal Product of Labor (MPL): - it is the change in total production due to the employment of an…

Q: 1. Suppose we are given a production function: q = 10.5 * k0.7. a. Does this production function…

A: Returns to scale is the quantitative change in production of a corporation or industry caused by a…

Q: Suppose that a firm's long-run production function where A>0 Which one of the following is true? ALK…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: For the production function y = 4x1+ 3x2, which of the two inputs is more productive when x1 is 10…

A: y = 4x1 + 3x2 Differentiate y w.r.t x1 to get the marginal product of x1 =>MP1 = dy / dx1 =>…

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: The figure shows the production function of a farmer who produces grain by working certain hours…

A: We have given a graph showing production curve of a farmer. Labor hour is on x-axis and quantity of…

Q: Suppose a Cobb-Douglas Production function is given by the following: P(L, K) = 70L0.6 K0.4 where L…

A: Production function P(L,K) = 70L0.6K0.4 ...... (1) Where L is the labor units and K is the…

Q: Suppose a firm faces the following average and marginal products of labor: APL = 200 + 5L - 0.08L2…

A: Stage II of production begins at the point where the marginal product of labor (MPL) and average…

Q: Consider the production function q = f(L,K) = ALªK®, where A, a, b are positive constants. For what…

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

Q: combination of labor and capital maximizes output with a cost of Birr 720? b. What is the maximum…

A: With the given production function, it can be inferred that the firm uses two inputs labor (L) and…

Q: Q(K, L) = 4K²L2 Type your answers in all of the blanks and submit The production function of good x…

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

Q: Suppose that q = 50, L= 2, and K= 10 is a point on the production function q =f(L, K). Isit…

A: A production function refers to the output, which depends on inputs such as labor, capital and…

Q: A firm can manufacture a product according to the production function Q = F(K, L) = KO.50LO.50. (a)…

A: The production function refers to the functional relationship between the given input and the…

Q: (1) Suppose the production function for widgets is given by q = kl-0.8k -0.212 where q is the annual…

A: Given, The production function or total product function, q= kl - 0.8k2 -0.2l2 Here, q = quantity…

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

A: The Cobb–Douglas production function is a functional form of the production function that is widely…

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: A firm's production function is given by the 4L0.5K0.5. Which of the following equation Q = is…

A: In a market, a firm's production function can be used to analyze the contribution of input variables…

Q: 4. LR and SR: Returns to Scale and Diminishing Returns Q- LaK > Consider a general Cobb-Douglas…

A: "Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Consider the following production function: q = 100L0.8K0.4 Currently the wage rate (w) is $6.00 and…

A: The profit maximizing firm or cost minimizing firm would employ the labor and capital at the point…

Q: Suppose that a rock star gives concerts. The production function of the concert is the following:…

A: Given: The production function of the concert- Q (C, A, G) = (C-10)1/4 A1/4 G1/4 C represents an…

Q: 1) Suppose the production function for widgets is given by: q= KL – 0.8K² – 0.2L². a.) Suppose K=10,…

A: 1) Production Function : q=KL-0.8K2-0.2L2 a) K=10 q=(10)L-0.8(10)2-0.2L2 q=10L-80-0.2L2…

Q: In Example 6.4, wheat is produced according to the production function: q = 100 (K0.5L0.5).…

A: The technological relationship between quantities of physical inputs and quantities of products…

Q: A firm can manufacture a product according to the production function Q = F(K, L) = K3/4 L1/4 a.…

Q: A firm produces output according to a production function: Q = F(K,L) = min {4K,8L}. a. How much…

A: Q = min[4K, 8L] a) K = 2 , L = 3 Q = min[4(2), 8(3)] = min[8, 24] Q = 8units

Q: What is the marginal physical productivity (MPP) of the inputs given the function Q=18x21+2x1x2+2x22…

A: Marginal physical product (MPP) is the change in the level of output due to a change in the level of…

Q: Let the following table shows the short run production function where labor is variable and other…

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

Q: 600 2100 2500 2600…

A: Capital is a fixed factor. A fixed amount is assumed to be invested, the interest on which is 10%…

Q: Consider the following production function: q = 100L0.8K0.4 Currently the wage rate (w) is $12.00…

A: Labor input is measured as either the number of workers employed or the number of hours they worked…

Q: Consider the production function of gadgets: Q= 2.9K12 L0.5 where Q is units of output per month, K…

A: In the question above, it is given that : Production Function : Q = 2.9K1.2L0.5 K is hours of…

Q: Consider the production function f (x1, x2)=min{x1, x2}. Assume the price of the inputs are w1 and…

A: Production function : f(x1 , x2 ) = min {x1 , x2 } This production function is an example of…

Q: Suppose the production function for widgets is given by q=KL+6L²-0.1L³ where q represents the annual…

A: In the production process, different inputs are used to produce the final output. Several inputs…

Q: Suppose that labor is Valerie's önly Varlable cost and that SHe Has Use the orange points (square…

A: Valerie's performance pizza is a small restaurant that sells pizzas. He owns three ovens in which…

Q: What is the marginal physical productivity (MPP) of the inputs given the function Q=18x21+2x1x2+2x22…

A: Input function is differentiated to get the marginal physical productivity of x1 and X2.

Q: Consider the following production function: q = 100L0.8K0.4. Currently the wage rate (w) is $20.00…

A: The firm will maximise its cost where the marginal rate of technical substitution is equal to price…

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

A: The production function shows all the combinations of labor and capital inputs that can be used to…

Q: Consider the production function: Q = L14 K 3/4 Does this production show increasing, decreasing, or…

A: Since you have asked many sub parts in this question. So I am giving you the answer of first three…

Q: Consider the following production function for shirts: q = v6 L3/4K1/4, where L is worker-hours, and…

A: Marginal product is the additional output produced by employing an additional unit of input. There…

Q: Solve the attachment.

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

Q: Suppose the production function is given by O= 2K - 5L What is the marginal product of labor when 15…

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

Q: Assume that machine (K) and labor (L) can be used as perfect complements to perform some…

A: Given Production function: Q=10min(K,L) .... (1) Where K is machine and L is labor

Q: A firm's production function is given by the following Cobb-Douglas function: q = = Ak0.510.5 vhere…

A: MRTS = MPlMPkwhere MPl=∂q∂land MPk = ∂q∂k

Q: What is the marginal physical productivity (MPP) of the inputs given the function Q = 12a? + 2a12 +…

A: * SOLUTION :- * The OPTION A is correct answer .

Q: The Cobb-Douglas production function with output Q and capital and labor inputs K and L,…

Q: 1) Suppose a firm uses capital, K, and labor, L, to produce output. Verify whether the following…

A: Note; Since we can only answer up to three subparts, we'll answer first three please repost the…

Q: Consider the following production function: q= 100L0.8K0.4 Currently the wage rate (w) is $15.00 and…

Q: Consider the following production function: q = 100L0.8K0.4 Currently the wage rate (w) is $4.00 and…

A: Cost is minimized at the optimal level of production.

Q: Given the production function y=(l^p + k ^1/p )^1/p , what is the technical of substitution, the…

A: Technical of substitution. The marginal pace of technical substitution (MRTS) is a monetary theory…

Q: Question 1 Homework Answered Using the production function Q=(K^(3/2)) (L^(3/2)), what is the…

Question

What is the marginal physical productivity (MPP) of the inputs given the
function Q = 18z7 + 2x1#2 + 2x3?
Select one:
O a. MPP = 36x1 + 2x2
MPP, = 2x1 + 4x2
ОБ. МP, — 36+ 2г2 +2
MPP, = 2x1 + 4x2
%3D
%3D
O. MPP,
36x1 + 2x1
%3D
MPP, = 2x1 + 4x1
%3D
O d. MPP
MPP, = 2x2 + 4x2
36z1 + 2x1
%3D
%3D

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

What is the difference between a fixed input and a variable input?
What is the difference between economies of scale, constant returns to scale, and diseconomies of scale?
Production Function. Consider the Cobb-Douglas production function discussed in class:F(K, L) = AK1/3 L2/3. Suppose that parameters are initially A = 1, K = 150, and L = 10. D) Suppose that the quantity of labor L doubles. Calculate Y, w, r, Y/L, and K/L. Com-ment on how and why these numbers changed relative to (c) and why they did so.
Suppose the production function for widgets is given by q=KL+6L²-0.1L³ where q represents the annual quantity of widgets produced, K represents annual capital input and L represents annual labor input. A) Suppose K=10. At what level of labor input does average product of labor reach a maxiumum? How many widgets are produced at that point? B) Again assuming that K=10, at what level of labor input does MPL=0? C)Determine and show whether the production process exhibits law of diminishing returns.
For the following production function: Y(K,L)= 25(KL)^(1/2) a) Compute the MRTS b) Define if it exhibits increasing, constant, or decreasing returns to scale c) Is the MRTS decreasing, increasing or constant as we increase the labor input? Provide numerical evidences and an economic interpretation of your answer d) Compute again the MRTS for this new production function: Y(K,L)= 2K+5L e) Compare now the MRTS of the two production functions and explain why the second case is a special case of the general result obtained at point a).
onsider a producer with budget C = 200 who can buy labor L at a wage w = 10 and capital K at a price r = 5. The producer has the following production function F(K,L) = 3K1/3 L2/3 . a. Does F(K,L) exhibit increasing, decreasing, or constant returns to scale? Show your work. Consider a new production function F(K,L) = K1/3 L2/3 , where is a? ? positive constant not equal to 3. Does the new production function exhibit increasing, decreasing, or constant returns to scale? b. Using F(K,L) = 3K1/3 L2/3, find the optimal bundle. Show your optimal bundle on a plot (this should include isoquant and isocost curves). c. Suppose the budget is reduced to C = 100 and then C = 50. Find the new optimal bundles. Plot these bundles, along with the initial optimal bundle, on one plot. Draw the expansion path PLEASE SHOW GRAPHS do not use chat gpt
A firm produces output according to a production function: Q = F(K,L) = min {4K,8L}. a. How much output is produced when K = 2 and L = 3? 192 Numeric ResponseEdit Unavailable. 192 incorrect.unit(s) b. If the wage rate is $60 per hour and the rental rate on capital is $20 per hour, what is the cost-minimizing input mix for producing 8 units of output? Capital: 80 Numeric ResponseEdit Unavailable. 80 incorrect. Labor: 480 Numeric ResponseEdit Unavailable. 480 incorrect. c. How does your answer to part b change if the wage rate decreases to $20 per hour but the rental rate on capital remains at $20 per hour? multiple choice Capital and labor increase. It does not change. Capital increases and labor decreases. Incorrect Capital decreases and labor increases.
Given the following production function: q = 10KL. Assume that w = 25, r = 75 and C = 1200. (a) Mathematically find the minimum cost combination of capital and labour to produce a given level of output.b) Does the production function in part (a) show increasing returns to scale, decreasing returns to scale, or constant returns to scale? Explain. (c) Using isoquants and isocosts, graphically illustrate the effect of an increase in the wage rate, assuming the firm is producing at the same level of output.
1. Margeʹs Hair Salon production function is Q = f(K, L) = K0.5L0.5 where K is the number of hair dryers and L is the number of labour hours she employs. At the moment, Marge uses 16 labour hours and 16 hair dryers. Suppose that Marge can use any amount of either input without affecting the market costs of the inputs. If Marge increased her use of labour hours and hair dryers by 10%, how much would her production increase?
A firm produces output according to a production function:Q = F(K,L) = min {6K,2L}.a. How much output is produced when K = 2 and L = 3? unit(s)b. If the wage rate is $30 per hour and the rental rate on capital is $10 per hour, what is the cost-minimizing input mix for producing 6 units of output?Capital: Labor: c. How does your answer to part b change if the wage rate decreases to $10 per hour but the rental rate on capital remains at $10 per hour? (Choose one that is the best answer) Capital decreases and labor increases. It does not change. Capital increases and labor decreases. Capital and labor increase.
A firm produces output according to a production function:Q = F(K,L) = min {6K,2L}.a. How much output is produced when K = 2 and L = 3?unit(s)b. If the wage rate is $30 per hour and the rental rate on capital is $10 per hour, what is the cost-minimizing input mix for producing 6 units of output?Capital: Labor: c. How does your answer to part b change if the wage rate decreases to $10 per hour but the rental rate on capital remains at $10 per hour?multiple choice Capital and labor increase. Capital decreases and labor increases. Capital increases and labor decreases. It does not change.
True or False: The shape of the production function reflects the law of increasing marginal returns. O True O False