Let 0 =AK"L!-a be a production function. The average product of factor L (labour force) is equal to: O a. AK“ O b. A(KL)“-1 Oc (1-a)a(K/L) -- (K/1)" d. A
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Let be a production function. The average product of factor L (labour force) is equal to:
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- What is the parameter in the production function in the following equation? F(K,N)=K N' ® OA. N O B. F OC. K OD. aThe amount of fish caught per week an a trawler is a function of the crew size assigned to operate the boat. Based on past data, consider the following production function identifying the relationship between output and labor input. You may assume that capital is fixed at 10 units.Labour Input (No of. Workers) (L) Total Product TPL (Q). From the table below :-(a) Calculate APL and MPL. (b) Graph APL and MPL. Do they have the expected shape? (c) On your graph, identify the three stages of production Labour input (No of Workers) (L) Total Product TP L (Q) 0 0 1 80 2 170 3 300 4 450 5 540 6 620 7 700 8 770 9 830 10 880 11 920 12 950 13 970 14 980 15 985 16 988 17 988What is total product at 4th unit of labor
- Based on the graph below, how much is the marginal product of labour of the sixth worker, if Q5=67 units per period and Q6=88. Q in Units/period Q6 Q5 6. Lin Workers/period Ca15 units per peciodCoosider the production function characterizing garri plant as: Q= 20L + 60k - L^2 - K^2 If total outlay for both capital, K =N50, and a Labour, L= N20, is N4,600. Find: a. The optimal quantity of K* and L* to be employed. b. Calculate the maximum possible output of garri that the plant can produce.USE R LANGUAGE TO SOLVE THE equation The output of a production process, Q is given by the function2K^(-3)L^(5/2)/2K log4 6L^2where K and L denote capital and Inbour. Calculate the output when the capital and labour are 10 and 20 units, respectively.
- Based on the notations and assumptions used in class, which of the following is/are TRU regarding the production function y=k, where 0 < a <1? (i) It is expressed in per capita form. (ii) The function exhibits constant returns to scale. (iii) Production per worker depends on the amount of capital per worker. O a. (i), (ii), and (iii) O b. Only (1) O c. Only (iii) Od. Only (ii)JayZee is the new sensation in the fashion industry, his cloth line is being appreciated and liked by the masses. Due to increased demand he decided to hire more labour (variable factor) while it is not possible for him to extend his warehouse size. If he hires you as an expert to ensure maximum profits with following information, take the best decisions. Total Product Units of Capital Units of Labour 0 5 0 100 5 1 240 5 2 400 5 3 500 5 4 560 5 5 570 5 6 570 5 7 520 5 8 460 5 9 Find: AP, MP and TR (show calculation) Find: Identify the three stages of production Construct the curves of TP, MP and AP Suggest how many labour should JayZee hire and why.The change in ourtput or total product the business would achieve in the current period byexpanding the usė of an input by another unit is: O The Marginal physical product (b) Thie Total physicał product (0) The Average pbysical product (d) The Marginal valuè product,
- Given the following production function, complete the missing values. Labour Quantity of chicken per Average Product Marginal Product week 10 XXX 1 100 100 100 300 150 450 4 140 110 680 126 11070,0001 Norway 60,000 United States 50,000- Netherlands Denmark •. Germany France 40,000- :UK South Korea Jарan. Italy" • Spain 30,000- Greece Russia 20,000- Mexico Chile Turkey 10,000- 0. 6,400 6,500 6,600 6,700 6,800 6,900 7,000 7,100 7,200 7,300 7,400 7,500 Average annual hours of free time per worker According to the graph: Select one or more: а. UK workers have more free time than Greek workers. b. UK workers have lower GDP per capita than Spanish workers. O c. The relationship between GDP per capita and free time is downward sloping. d. US workers work longer hours than French workers. GDP per capita (USD PPPS)Sean la función de producción Q(K, L) 23 625 (Ki + Ki + 4 Li) , que depende de las cantidades 7. utilizadas de los inputs K y L, y sea el punto (K,L)= (2,4). (a) ¿Cuál es el efecto sobre la producción de un aumento de una unidad en la cantidad utilizada del input L, ceteris paribus? (b) ¿Cuál es el efecto sobre la producción de un aumento de un 1% en la cantidad utilizada del input L, ceteris paribus?