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- The time to assemble the first unit on a production line is 17 hours. The learning rate is 0.89. Approximately how long will it take for the seventh unit to be assembled? The number of hours needed for the seventh unit to be assembled is hours. (Round to one decimal place.)Question 6 If a market basket was defined in 2014 and it cost $10,000 to purchase the items in that basket in 2014, while it cost $11,000 to purchase those identical goods in 2015, then the price index for 2015 is a (10000/11000)*100=90.9. b) 100. c) (11000/10000)*100=110. d) unknown given this data.The time to assemble the first unit on a production line is 11 hours. The learning rate is 0.93. Approximately how long will it take for the sixth unit to be assembled? The number of hours needed for the sixth unit to be assembled is hours. (Round to one decimal place.)
- Consider this formula. ?=??z=yx If ?=4.0z=4.0 and ?=9.6y=9.6, what is the value of ?x? Express your answer to the tenths place (i.e., one digit after the decimal point).In doing this problem, it helps to remember a few rule about exponents. The first rule is that, for any positive number B, (B B (in words, B raised to the power n raised to the power s equals B raised to the power n times s). Two other rules are B B (B raised to the power one just equals B), and B1 (B raised to the power zero equals 1). You'll need to use each of these rules below K1L1/2= ( KL) 12 a) Suppose that a firm's production function is given by Q This production function exhibits O A. constant returns to scale B. increasing returns to scale O C. decreasing returns to scale b) Suppose that r w 2, so that production cost in terms of K and L can be written 2K+ 2L. Just as in that previous problem, the isoquant slope MP, MP is equal isocost line yields K L. Substitute K L in the production function Q (KL)1. Then use the resulting equation to solve for L as a function of Q, using the exponent rules from above. This relations hip gives the cost-minimizing L as a function of Q. This…give the full calculation or solution...