What is the  Short run and long run period in the production function of the economics

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: The basic difference between the short run and the long run is that?

A: Short run refers to the time period which does not allow the change in capital to adjust with market…

Q: MICROECONOMIC THEORY II, ECON 202- PROBLEM SET I A firm produces a good by using a linear production…

A: Since you have posted the question with multiple sub-parts, we are answering the first three for…

Q: Consider a firm with a given fixed amount of capital. Draw an example Total Product curve of labor…

A: Economics as a subject deals with the allocation of scarce resources among humans with unlimited…

Q: Instructions: Click the buttons above the graphing window to show either production functions or…

A: Productivity in the following tables can be found out by dividing output by the number of workers.…

Q: Which of the following input resource(s) can be used to measure the productivity of a firm? a.…

A: The productivity shows the efficiency of the input used in production. In other words, it shows how…

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: Distinguish between the following and show their importance in production theory both in terms of…

A: The short run is the time period during which some factors of production (input) are fixed and some…

Q: Given the production function Y= AF (L, K, H, N), explain the determinants of productivity. (…

A: A production function is a functional relationship between the inputs which are used in the process…

Q: Question 5.05 For the production function Q = 4LK, returns to scale: Select one: O Is decreasing.…

A: Production function shows relationship between output and inputs used.

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: What is the difference between a feasible production plan in the short run and in the long run? Give…

A: Feasible production plan in the short run: In the short run, even though the firm is facing loss, it…

Q: Use the data below to calculate MP and AP. On a separate piece of paper, graph the total product…

A: Before plotting the graphs, we summarize the given information in the following table.

Q: True or False    A production function in "economics" summarizes the technological relationship…

A: Meaning of Cost: The term cost refers to the situation under which a firm occurs various expenses…

Q: In economics, the short run is a period of time  A of one year or less. B in which all inputs are…

A: In short run in economics, the factors of production are such that they cannot be changed quickly…

Q: Given the production function y=(ip - Kp )1/p , what is the technical rate of substitution, the…

A: An equation in economics that describes the relationship between the amount of a factor of…

Q: Given the production function y=( ip - Kp)1/p, what is the technical rate of substitution, the…

A: The production function shows the technical relationship between the given input and the achieved…

Q: n economy has the following Cobb-Douglas production function: ?=100?^(1/3)?^(2/3) . The economy has…

A: Marginal product of an input is calculated by differentiating the production function with respect…

Q: Consider the following production function: Q = 55 K/L4/3 A. Determine whether this production…

A: Production function is the relationship between the technology and output , so it has increasing…

Q: 12. In the following production function, Y-S(K, NA), suppose A increases by 10%. This increment in…

A: Y(K,L) = f (K, NA)

Q: Does additional input of labor entail a steady increase in the output of a firm? Why or Why not?

A: "Factors of production are resources that are used to produce goods or services." There are various…

Q: What is the difference between production in the short run and production in the long run? Explain…

A: please find the answer below.

Q: Which of the following is an implicit cost of production?   16:   A)  the utility bill paid to…

A: please find the answer below.

Q: Consider a firm that employs capital and labour and uses the production technology Q = min[K, L]…

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

Q: How does the firm increase its production in the long-run? What input/s can it use to increase…

A: The process of production is the transformation of the raw materials into the final finished goods…

Q: Why might marginal product be increasing at lower levels of output and decreasing at higher levels…

A: Marginal product (MP) is the extra output produced by one additional unit of input or raw material…

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 is the difference between short-run and long-run in production theory?  *Explain thoroughly*

A: Production is defined as the process in which factors of production or inputs are put to use in…

Q: Q.2 - a) Explain the five fundamental questions that economics attempts to answer. b) What is the…

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

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

A:

Q: antidades Be the production function Q (K, L) -12 (K + 41, which depends on the quantities Used from…

A: Given,  Production Function : Q(K, L) =23625(k1/4+4L1/4)4 and (K,L) = (2, 4)

Q: Discuss the content of the concepts of "short run" and "long run" as used in the theory of firm and…

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

Q: When do you think production is on the part of increasing returns on the production function?…

A: Returns to scale is an economic term that defines what happens to long-run returns as production…

Q: onsider a short run production function q = cL+K where the value for c=3, sing L units of labour and…

A: Marginal productivity of labor depicts how there is change in output due to additional unit of…

Q: Explain what a production function is. What is the concept of diminishing marginal product?

A: Production Function: The function that explains the relationship between the physical inputs and…

Q: mhich of the following diagrams shows isoquants for a Cobb-Douglas production function? X2 X1 X1 X2…

A: Isoquant- It is the curve that represents different combination of two inputs that produce maximum…

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

A:

Q: What is the difference between production in the short run and production in the long run? Explain…

A:

Q: Complete the table above Solve the short run production function every of the above table.

A: Marginal Product of worker shows the number of extra units of yield (amount) each extra worker…

Q: Explain how a change in the price of one input factor changes a firm’s long-run expansion path?

A: The firms, and businesses are the entities who are considered to be of utmost importance for the…