A firm's production function is 0=50L – 0.01Ľ' , where L denotes the size of the workforce. Find the value of MP in the case when: (a) L=1, (b) L=10, (c) L=100, (d) L=1000 Does the law of diminishing marginal productivity apply to this particular function?

Q: A firm can manufacture a product according to the production function Q = F(K, L) = K0.5L0.5. (a)…

A: We are going to calculate average product of labour and marginal product of labour

Q: Skylar owns a firm that produces holiday ornaments. Her production function is given by: f (L, K)…

A: Given- y = (min{x1, 2x2})^1/2 let, We increase X1, X₂ by some constant 'C' y' = ( min { CX₁ + 2 CX ₂…

Q: A firm has the following production function f(K¿) = AKª . Derive an expression for the future…

A:

Q: Imagine your short run production function is q = -0.005L3 + L2 +200L. What is the L that maximizes…

A: The average product is computed as the ratio of the total product and the units of labor.

Q: 4. The production function for puffed rice is given by q = 100\KL, where q is the number of boxes…

A: The production function is given by q = 100KL Where,The quantity of boxes is represented by qCapital…

Q: If a production function exhibits decreasing returns to scale, average cost will decrease as output…

A: Average cost is the per-unit cost of output.

Q: Which of the following production functions represent increasing returns to scale? 1. f(K, L) = 2K+…

A:

Q: Consider the production function: Q = 2K + 3L. The MRTSLK is:

A:

Q: Find the MRTS for a firm with production function f(L,K)=(L)^2+vK. Is it diminishing?

A: A production function gives the technological relation between quantities of physical inputs and…

Q: Suppose a firm’s production function is given by q = 2KL + L  , where K is capital and L is labor.…

A: The average product of labor is nothing but the total product per unit of labor.  APL = TP / L

Q: Q2. Determine the returns to scale of the following production function: Hand written plzz Y = 5K0.5…

A: Returns to scale: - returns to scale show the change in output due to the change in scale of…

Q: Find the cost function for the marginal cost function. c'(x) = 0.06 e 001x. fixed cost is S7 C(x) =|

A: We are going to find total cost function by integrating marginal cost function to answer this…

Q: Suppose you run a factory whose short-run production function is given by f (L) = 180L² – 3L³. (a)…

A: Production Function studies the fundamental difference between physical input and output. It is…

Q: If a production function exhibits decreasing returns to scale, then the average variable costs are…

A: ANSWER STEP-1 If A Production Function Exhibits Decreasing Returns To Scale, Then The Average…

Q: Suppose the production function is given by O= 2K - 5L What is the marginal product of labor when 15…

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

Q: Firm D has production function F(K,L) = aK+2L. Very briefly, what is the interpretation of a in this…

A: Given: Firm D production function, Here we have to give an interpretation of "" in this…

Q: Draw the isoquant map, be precise for at least one isoquant line, carefully determine the gaps…

A: A production function of a firm represents the relationship between the output and input factors…