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- How firm choose optimum combination of inputs in short run and in logn run explain theoritically and graphically?Complete the table directly below by calculating MP and AP. Inputs ofL TP MP AP 0 01 152 343 514 655 746 807 838 82 Plot the TP, MP and AP and explain in detail the relationship between eachpair of curves. Explain why PM first rises, then declines, and ultimatelybecomes negative.How firm choose optimum combination of inputs in short run and long run explain theoritically and graphically?
- age=1 The short run is a time period in which: aved ut of Select one: O A. the level of output is fixed. O B. some resources are fixed and others are variable. O C. the size of the production plant is variable. O D. all resources are fixed. Clear my choice pus pageIts from Macroeconomic Assignment please solve this ?4. An iso-quant gives: O Combinations of output that can be produced using different levels of inpuis b. Combinations of inputs that can produce a constant level of output C. Combination of out puts that can be produced with a given level of upuis. d. None of the above is correct
- what are the three stages of production? explain with TP, MP, and AP graphWrite out an example Cobb-Douglas production function. Derive the signsfor the relationship between labor and output and for marginal product oflabor and labor, holding other inputs fixed. Explain with economic intuition.i wil 5 upvotes. do fast no use chagpt answer.
- Productivity decreases when O a. Output and hours worked decrease at the same rate O b. Hours worked decreases at a faster rate than output O c. Hours worked decreases at a slower rate than output Od. The cost per unit produced decreasesIn the production process, both the average product and marginal product of the variable input rise first, then fall, and then rise to infinity OFalse O True 27 WConsider this production function. Study hours 2. 4 10 11 12 14 15 or more 13 Grade 20 33 42 50 57 63 69 73 78 81 84 86 88 89 90 1007 90 - 80 70 60 S0 40 30 20 10 Hours of study per day Select one or more: a. The average product of labour is falling as hours of study increase. O b. The marginal product of labour is constant as hours of study increase. O c. The marginal product of labour is rising as hours of study increase. U d. The marginal product of labour is zero beyond 15 hours. Final grade 9-