$30 and wage rate Let the production function be given by: q = 10(L^2)K, with rental rate v = w = $20. 1. How much K and L are employed to produce 11, 250 units of output? 2. Suppose that the firm wants to increase output to 19, 440 units of output, now how much Kand Lare employed to produce with minimize cost? 3. Suppose that in the short run the amount of capital is fixed at K = 10, what is the firm short run fixed cost? 4.Suppose that in the short run the amount

$30 and wage rate Let the production function be given by: q = 10(L^2)K, with rental rate v = w = $20. 1. How much K and L are employed to produce 11, 250 units of output? 2. Suppose that the firm wants to increase output to 19, 440 units of output, now how much Kand Lare employed to produce with minimize cost? 3. Suppose that in the short run the amount of capital is fixed at K = 10, what is the firm short run fixed cost? 4.Suppose that in the short run the amount

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Fill in the missing parts in the following tables to illustrate the behavior of production and costs in the short-run; then determine the optimal level of production according to the number of inputs you are intending to use. Output Units Land Square Meters Capital Egyptian Pounds Labor Units 0 1000 1600 2100 2500 2600 Output FC VC TC MCL MPL AVC AFC ATC 0 1000 1600 2100 2500 2600 -Hint Consider land and capital as fixed factors, while labor units as variable factors. The cost of land is L.E20 per square meter. The interest rate on capital is 10%. The average wages per unit of labor is L.E1500.
Let a firm's production function Q (L)=12L^2-1/20L^3 (i.e. output as TL orthe amount of production depends on the workforce, L, as Q is the number of people with a single production input). This functionlet be the foreground 0 ≤ L ≤ 200 for. Accordingly,A) What is the number of labour force (L*) that will make output (Q) the highest?B) what is the number of workers (L**) who will make the maximum amount of output per employee(i.e. Q (L)/L)?c) in both cases the output of the L* and L** values you find and the output per employee at the mosthow can you be sure it's high? Show me.
A firm's production function is q = min (0.5K, 5L).The current wage rate, w = $10 and the price of capital, r= $5. How many units of K and Lshould the firm hire in order to produce 180 units of output with the minimum cost?Please find the solution and also draw the isoquant and the isocost curve
A. Derive the total cost function for the firm B. Suppose the cost of producing 10 units of output is Rs . 150. If the price of capital is Rs . 2 per unit at that level , calculate the price of labour for the same. C. Output expansion path shows how the optimal input usage changes with the change in output , if input prices do not change . Draw a labelled diagram showing iso - cost line and isoquant for Q = 10. Now , show the locus of output expansion path for the firm . Also find an equation for the output expansion path .
A firm uses labour, L and capital K, to produce a single product, X. capital is fixed but labour is variable. The firm’s production function is: X=-0.2L3 + 18L2 + 1620L. Where X is the number of units of the product per week, and L is the number of persons employed. A t what weekly output is marginal cost equal to average variable cost? if the price of the product is $0.20 per unit, what is the maximum weekly wage that the firm would pay rather than close down?
Economics A firm has the production function q = K0.25L0.25 , where K is capital, L is labor, and q is output. The price of capital is v = 4 and the price of labor is w = 4. [You may need this result: if Yα = Z. Then Y = Z1/α]. (i) Derive the firm’s short-run cost function if capital is fixed at K = 16. (ii) Derive the firm’s long-run cost function. (iii) Someone claims that the firm’s
can you solve for D E F please thanking you
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Suppose that a firm has a production function given by: q= 10 L² K. The firm has 10 units of capital in the short run. Which of the following will describe the marginal product of labor (MPL) for this production function? Select one: a. Constant Marginal Returns to Labor b. Increasing Marginal Returns to Labor O c. Decreasing Marginal Returns to Labor
#4a.Suppose A firm uses labour, L and capital K, to produce a single product, X. capital is fixed but labour is variable. The firm’s production function is:X=-0.2L3 + 18L2 + 1620L.Where X is the number of units of the product per week, and L is the number of persons employed.A. A t what weekly output is marginal cost equal to average variable cost?B. if the price of the product is $0.20 per unit, what is the maximum weekly wage that the firm would pay rather than close down?.
I need this in words Not handwritten or no pic