Consider the following information: Q = min{ 65 L, 4 K} PL=9, PK 10, P=18 and C-3058 What is the profit maximizing level of labor?

When the quantity of a variable input is increased from 3 units to 4 units the total output increases from 70 units to 85 units the marginal product of the variable input is 15 units? True/False

FarFlung make computer keyboards. They use both labour, L, and materials, M, in their production of keyboards. The production method they use requires that at least one labour and one material is always employed. FarFlung have a Cobb-Douglas technology which means that their production function is: Q(L, K) = LM. (a) FarFlung can make and sell 160000 computer keyboards. If fixed costs are £1000000 then what is the short run total cost of production and the short run average cost of production?  (the price of labour is £100 and the price of materials is £25?) (b) FarFlung could move to a new factory, where they will be able to manufacture 360000 computer keyboards. They are confident they can sell all the keyboards, but they will need to reduce price from £20 to £10. Whilst they will be able to use the same technology, the fixed costs will increase to £2000000.   i. What is the new level of short run average costs? What does this imply about the shape of the long run average cost curve?…

(2 ex Production function is flu, X2)=min (x,, 2-x) Dwhat are the conditional factor demand of y = 10 OVA the firm faces w, and w₂ as input prices, what is the cost function?

A firm’s only variable factor is labour and it produces a single product, X. It also has fixed costs. The short-run production function is; X=-0.1L3 + 6L2 + 12L. Where X is the output in tons, and L is the number of persons employed. What is the quantity of X when average variable cost is minimized? If the weekly wage is $360 and the price of X is $30 per ton, how much X should be produced to maximize profits?

a b and c please

Assume a firms production function depends on labour hours (L) only and is given by F(L) = 5L0.8 Assume the hourly wage is $40. Then, the cost of producing 50 units, rounded to the nearest integer, is: 711 1134 541 112 1000 801 854

Please correct answer and don't use hand rating

When Average vaiable cost (AVC) = 600 and Average product (AP)= 0.14. Then find the wage rate W.

a) Calculate the marginal product (MP1) for the mixers. Does the production function have increasing, decreasing, constant marginal product for the mixers? b) Suppose in the short run the amount of machines she has is fixed at 27. How many mixers should she use? How many baklavas will she produce? How much profit will she make? c)Usinag an isoprofit, as well as the production function, draw a diagram of your soltuion from part (b). carefully label all the slopes and intercepts. d) In the long run, how many mixers should she use? How many machines? How many baklavas will she make? e) Suppose that the government decides to provide a $1 subsidy per mixer. What is the profit-maximizing amount of input to use now?