Consider that a firm has, for a certain product, the following profit function: π = PQ - wL - rK Where P: Price, Q: Level of production, L: Labor , K: Capital w, r = Price of inputs for L and K, further assume that Q = LαKβ with α = β < 1/2 . Determine the optimal level (L∗,K∗) that maximizes the firm's profit.

Q: 2. A firm is a perfectly competitive producer and sells good A and good B at RM100 and RM80,…

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Q: QUESTION 3 Maximize: z = 4x + 7y Subject to: 2x + 3y ≤ 12 2x+y≤8 x≥0 y≥0

A: Note: Since the student has posted multiple questions, but the first question is incomplete, so we…

Q: y = 3(x3)/³ (max{x1,8x2})'/3 where 1, 12 and r3 are inputs and y is output. Let w1, w2 and w3 denote…

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Q: profit, in thousands of dollars, from selling and producing a pairs of sunglasses. d a simplified…

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Q: How to solve this equation y'''+2y''+4y'+8y=5e^(3t)+1 using Method of Undetermined Coefficient

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Q: 2. Consider the production function, ƒ (z1, z2) = z} zž. (a) Solve the PMP for factor demands z (p,…

A: Please comment if you need any clarification. If you find my answer useful please put thumbs up.…

Q: An electronic manufacturing firm has the profit function P(x)= x³+x² - ADX + A, and revenue function…

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Q: 3. Let R = 4500Q - 36Q² be the revenue R for a firm producing output quantity Q > 0, with total…

A: The profit function is given by        P = R – C          = (4500Q – 36Q2) – (2Q3 – 6Q2 + 900Q +…

Q: 8) The production function for an industrial country was estimated as f(K,L) = 42L04 K0.8, where L…

A: Let's find.

Q: 9. For each n E IN, let Xn be the set of polynomials of degree equal to n, and let Pn = U_0 Xk. True…

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Q: 7. A company sells two models of a product. Suppose the profit equation is P(91,92)=−16.0 +598.8q₁…

A: We have to find the profit.

Q: 13. A firm produces and sells two types of items each week. X number of type A and Y number of type…

A: Given, A firm produces and sells two types of Items each week. X number of type A and Y number of…

Q: 4. Suppose that you are a financial analyst for the popular restaurant chain Applebee's. Theregional…

A: Given information: The output of multiple linear regression is given.

Q: 4. Suppose that when x units are produced, the total cost is C(x) = 3x² + 12x+14 and the selling…

A: C(x)= 3x2+12x+14  Selling price per unit p(x)=44-x we have to find level of production for  maximum…

Q: roduction function for a firm is p(x, y) = 96xy", where x and y are the number of units of labor and…

A: According  to guidelines  we solve one question. Thanku

Q: b. A company estimates that the cost, in dollars, of producing of items in C(q) = 2,600 + 2g + 0.00…

A: The cost function is given as follows: Cq=2600+2q+0.001q2           ...1

Q: The technology for a firm is given as Y=xa  where 0 < a < 1 lets say the price of input is 5 and…

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Q: Suppose we are able to model the total utility function for the consumption of two goods, good x and…

A: Given Utility Function :  U(x, z) = 3x2 + z2 - 2xz Px = Py = $1 Total Income = $1000

Q: 24. The revenue and the cost functions for producing x gizmos are R(x) = 200 x - x² and C(x) = 5000…

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Q: 7.2. A consumer has a utility function u(1, 2) = max{1, 2}. What is the consumer's demand function…

A: Here Given that u(X1,X2)=Max{X1,X2} Since Utility function is such that MUx=MUy=1 and thus demand of…

Q: Suppose demand is given by p = 1600 − x. Find the maximum revenue.

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