33- If an increase in the price of one good leads to a fall in the quantity demanded of other than these goods are complementry good A- True B- False

Q: Use the following information on a hypothetical short-run production function to answer questions…

A: The law of diminishing marginal returns states that, in a production process, the successive…

Q: Assume that a firm is using the cost-minimizing combination of its only 2 inputs, capital and labor.…

A: Cost is minimized when the firm produces where the MPL/PL = MPK / PK  MPL is the marginal product of…

Q: For a production function, diminishing marginal product says that O holding one factor fixed, as…

A: Law of diminishing marginal product: According to this law, as an increase in variable factor…

Q: Which of the following are true (check all that apply) Note: IRTS=increasing returns to scale,…

A: Cobb-Douglas production function represents the relationship between the inputs used and the total…

Q: The Long-run production function is given by; Y = 180 L0.8 K1.8Where, Y = Output (mt/day), L =…

A: Hey, Thank you for the question. According to our policy we can only answer up to 3 sub parts per…

Q: The marginal product of labor (MPL) is defined as

A: The firm would result in profit maximisation by maximising the revenue which would be earned by the…

Q: ... Assume that the price of a car wawsh is $10 and the marginal product of labor at the car wash is…

A: Marginal product is the change in total product due to an additional labor hired.  Marginal revenue…

Q: 6.14. Consider the following production functions and their associated marginal products. For each…

A:

Q: (a) Consider the production function whose equation is given by the formula Q = VKL. What is the…

A: Answer: Given: Production function: Q=KL Calculation: (a). Isoquant: it refers to the curve that…

Q: Consider an economy whose real marginal product of labor MPN is as follows: MPN = A(1000 – 0.2N)…

A: MPN = A (1000 - 0.2N)   -------------> Marginal product of labor NS =500 + 5 (1-t)w…

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: Consider the following production functions, to be used in this week’s assignment: (A) F(L, K) =…

A: The marginal productiveness of labor (MPL) refers to the exchange in output or manufacturing ensuing…

Q: None

A: To complete the table and answer the questions based on the provided data, let's go through the…

Q: Suppose life expectancy in years (L) is a function of two inputs, health expenditures (H) and…

A: The marginal product of a business is the additional output created as a result of additional input…

Q: What will be the MRTSLK, if the quantity of labor used increases by one unit, the firm can give up 2…

A: MRTS or Marginal rate of technical transformation is  the rate at which one input is substituted by…

Q: The Marginal Rate of Technical Substitution for isoquants in a fixed-proportion production function…

A: here we can discuss about the isoquants relation with MRTS and choose the correct option below which…

Q: 2 Suppose that production for good X is characterized by the following production function, O= K005…

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

Q: Consider this production function. Study hours 1 4 5. 10 11 12 13 14 15 or more Grade 20 33 42 50 57…

A: [1] Lets discuss options one by one:-a. UK workers have more free time than Greek workers.Ans. UK's…

Q: The term defined by more units of the variable factor of production are added to the fixed…

A: In a production process, there are two types of factors of production, namely fixed and variable.…

Q: Suppose the hourly wage is $10 and the price of each unit of capital is $25. The price of output is…

A: The production function is, f(E, K) = E 1/2K 1/2 The marginal product of labour is, MPE = (1/2)(K/E)…

Q: Given a production function with a specific amount of fixed resources and one variable resource,…

A: The total product refers to the total output produced by the firm with the given resources and…

Q: production-function-Q=100k^0.5L^0.5.During the last production of tyres .The inputs were 100 and 25…

A: In economics, a production function is a means of examining the relationship between input and…

Q: 1. The following production function is used to produce wheat, q, from capi- tal, K, and labour, L:…

A:

Q: A firm’s only variable factor is labour and it produces a single product, X. It also has fixed…

A:

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: When the production function is linear, q = 0.20L + 0.10K, the factors are perfect substitutes for…

A: Given  Production function: q=0.20L+0.10K              ........(1) In this case the labor and…

Q: The marginal product of labor can be determined using the total product of labor Production Function…

A: Given:  Production Function  q=8LK+5L2-13L3 where L is labor given as 5 units K is capital given as…

Q: Coosider the production function characterizing garri plant as:   Q= 20L + 60k - L^2 - K^2   If…

A: Production Function:  Q= 20L + 60k - L^2 - K^2 Total Expenditure = 4600 Price per unit of Labour(w)…

Q: In the example presented by this graph, at what number of workers does the point of diminishing…

A: Diminishing MP(marginal product) shows that when the labor(number of workers) rise, the MP falls and…

Q: The Whoville Marble Collective (WMC) makes fancy marbles for picky Whos. WMC's output is given by Q…

A: The production function determines all the input bundles that produce the same output level.The…

Q: Assume the budget line is Y = 900 = pBB + pZZ = 9B + 18Z. Further assume that the marginal rate of…

A: Marginal rate of substitution is that rate at which one factor of production or input can be…

Q: Suppose that this conveyor-manufacturing firm has another location and would like you to evaluate…

A: Answer: Given, Marginal rate of technical substitution (MRTS) = 0.5 The marginal product of labor at…

Q: Consider this production function. Study hours 1. 21 3 4. 10 11 12 13 14 15 or more 6 8. 6. Grade o…

A: Average Product is the total product per unit of output. Marginal Product is the additional amount…

Q: Consider the following production function: q = 9LK + 6L2 - Assuming capital is measured on the…

A: