Please see the attached photo, and Only solve part d, e, and f Prunella raises peaches. She uses L units of labor, and T units of land to produce peaches. Herproduction function is f(L, T)= L1/2+1/2a. Write the equation and plot the isoquant for the output quantity 4.b. What is the returns to scale of this production function?C.Find the marginal products of labor and land. What is the rate of technical substitutionbetween land and labor?d. In the short-run, Prunella cannot vary the amount of land she uses. Plot the output as afunction of labor only for the fixed level of land of T=1.e.Find the marginal product of labor from L=4 and show it on the graph. Is the marginalproduct of labor diminishing, constant or increasing in labor?f. Suppose wages are constant and equal w, fixed costs are zero. Find the short-run profitmaximizing level of labor for T=1.

Factors of production is used in production process and production function establishes the…

d. In the short-run, Prunella cannot vary the amount of land she uses. Plot the output as a function of labor only for the fixed level of land of T=1. e. Find the marginal product of labor from L=4 and show it on the graph. Is the marginal product of labor diminishing, constant or increasing in labor? f. Suppose wages are constant and equal w, fixed costs are zero. Find the short-run profit maximizing level of labor for T=1.

d. In the short-run, Prunella cannot vary the amount of land she uses. Plot the output as a function of labor only for the fixed level of land of T=1. e. Find the marginal product of labor from L=4 and show it on the graph. Is the marginal product of labor diminishing, constant or increasing in labor? f. Suppose wages are constant and equal w, fixed costs are zero. Find the short-run profit maximizing level of labor for T=1.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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