Consider the following fixed proportions technologies: Technology A uses 3 units of labour and 6 units of capital to produce 10 units of output. Technology B uses 8 units of labour and 4 units of capital to produce 10 units of output. The firm has 6 units of labour and 8 units of capital. lt can use either of the technologies, or combine the two in its production. The maximum amount of output the firm can produce is O fewer than 10 units O between 10 and 15 units O between 15 and 20 units O between 20 and 25 units O greater than 25 units

Q: For the production function y = 4x1+ 3x2, which of the two inputs is more productive when x1 is 4…

A: Answer; option a (x1) Explanation: Let us calculate the marginal product (MP) of both the inputs to…

Q: introduces new techniques or methods so that firms can produce more output per unit of input. O a)…

A: New techniques and methods helps in the increase in output per unit of input i.e. the production…

Q: QUESTION 6 Which of the following production functions exhibit constant rehurns to scale? In each…

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Q: Сapital 10- 8- 7- 6- 5- A 4- 3- 2- B 1- 0- 9 10 11 Labor 1 2 4 6 7 8 Equilibrium Reference: Ref 7-5…

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Q: With the Cobb-Douglas production function Y=zK1/4nd374, if both capital and labour increase by 20%,…

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Q: $8 betv its, $18.25

A: We have  When Output 7 units Total Cost is $150 Marginal Cost = $8 (between 7th & 8th unit) When…

Q: Suppose that a firm's long-run production function where A>0 Which one of the following is true? ALK…

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Q: 2nd attempt Which of the following are examples of fixed-proportions production functions? Choose…

A: When the inputs are consumed in the fixed proportion, then it is known as perfect complementary.

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A: Given: Model; y=ax-0.23 Time taken by First widget=5 hours

Q: Suppose a production function for a firm takes the following algebraic form: Q= 4KL - (0.2)L, where…

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Q: The following data refer to Questions 23 and 24 only. Number of workers Total Product Marginal…

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A:

Q: Suppose that a firm has production function ƒ(K, L) = K2a + Lª where a > 1. Assume that pk = PL…

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Q: Units of Units of Labor, L Capital, K 1 2 3 4 1 50.0 66.7 75.5 80.0 2 66.7 100.0 120.0 133.3 3 120.0…

A: Answer: option c (long-run; can both be varied) Explanation: In the long run, both labor and capital…

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Q: 1. Given the following input-output relationship: Labor O Output O 1 10 Inputs X1 X2 2 14 A 825…

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A:

Q: production function

A: The firm produces at MRTS=w/r   MRTS=MPL/MPK =100K/100L =K/L

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Q: If a firm's MC is $8 between output of 7 units and 8 units, and TVC is $150 when output is 7 units,…

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