Given production function: Q = L 3/4 . K1/4 Find out the optimal quantities of the two factors using Lagrangian method, if it is given that price of labor is Rs.6 and price of capital is Rs.3 and total cost is equal to Rs.120.

Q: If the production function is Q = K.SL5 and capital is fixed at 1 unit, then the average product of…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: Calvin’s Furniture store also has a Production function of TP = 90K2 − K3 1. Optimize the Marginal…

A: TP=Q=90K2-K3     where Q= Total Quantity of production, capital =90 which is fixed and Labour= K…

Q: Assume the Cobb-Douglas production function is Q= L ^0.75 K^0.5 and if price of labor per day is 5…

A: Given  Q =L0.75 K0.5     ......... (1) Price of labour = 5 birr per day  Price of capital = 10 birr…

Q: Find out the maximum possible output for a firm with 12 units of L and 24 units of K when production…

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Q: A bottling company uses two inputs to produce bottles soft drink sludge: bottling machines (K) and…

A: The optimal input bundle i.e. the cost minimizing input bundle is where the marginal product per…

Q: Given the production function Q=20L+8K and cost budget = 1000JD; w (Price per unit of labor)=8;…

A: Production function exhibits the relationship between the input and the output. The production…

Q: Consider the production function Q = (0.5K1/3 + 0.5L1/3)3 with a corresponding MRTS = K2/3/L2/3.  a.…

A: Constant returns to scale occurs when increasing the inputs by some proportion increases the output…

Q: A Cobb-Douglas production function for new company is given by ?(?, ?) = ?³/⁵ ?²/⁵ where K…

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Q: If the production function of a firm is given by Q=K2L3 and the input prices are r=Birr 8 per unit…

A: The production function shows the relationship between inputs and output produced. Inputs are the…

Q: Which of the following statements is true?    (a) If a firm is experiencing decreasing returns, it…

A: Production Possibility curve refers to graphical representation that shows all the combination of 2…

Q: A firms production function is Q(L) = 15L2-0.1L3, where output (Q) is a function of a  single input…

A: The total product of the firm is the total number of goods that the firm produces. The Production…

Q: Suppose the production is characterized by the function Q(K,L) = 50K05L05. The price of labor is $5…

A: Cost is minimized at the bundle of inputs where marginal rate of technical substitution is equal to…

Q: With a production function of  if r = $4 and w = $4, how many units of capital and labor will be…

A: Profit maximizing firm would employ labor and capital at the point where the marginal productivity…

Q: Consider the following production function: Q = K² L²

A: ‘Economies of scale’ is nothing but the cost advantage that a firm obtains due to its production…

Q: If the production function of a firm is given by Q= K2L3  and the input prices are  r= birr 8 per…

A: Production function yields the technical relationship between the units of factors of production…

Q: A Cobb-Douglas production function means that as long as either of the 2 input is nonzero, the…

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Q: 1.    A firm’s production function is Q = L1/2 K1/2 They have 16 units of capital (which is fixed in…

A: Inputs are resources that benefits the production unit in developing goods and services. In the…

Q: Production Point Capital (K)  Labor (L) Output (Q) A 1 1 2 B 2 2   C 1 3   D 2 4   E 1 5   F 2 6   G…

A: According to the guidelines, we will answer the first question for you, for the other question to be…

Q: If the production function of a firm is given by Q=K2L3  and the input prices are r=Birr 8 per unit…

A: The production function shows the relationship between inputs and output produced. Inputs are the…

Q: Output is produced according to a production process given by: Q = 4LK, where L is the quantity of…

A: A production function represents the relationship of the manufacturing output with the given factors…

Q: A lot of companies use the marginal cost function for their business models to determine the…

A: 1. We know, Average cost = AC(x) = C(x)/x  Marginal cost MC(x) = C’(x) At the critical points of…

Q: Let Q = F(K, L) = KL* denoted a production function with K as capital input and L as labour input.…

A: * SOLUTION :-

Q: The Cobb-Douglas production function for a particular product is N(x,y) = 80x0.60 4 where x is the…

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Q: Considering the Production Function →Y= 95 - 2X,2 + 3X1 + 5X,X2 - 6X22 + 18X2 Find the values of X,…

A: Given information, Production Function: Y=95-2X12+3X1+5X1X2-6X22+18X2 where Y is the output and X1…

Q: A Cobb-Douglas production function for new company is given by FF(KK, LL) = KK3/5LL2/5 where K…

A: The optimal quantity of labor and capital would be when MPL / MPK = W / R

Q: Optimize the Cobb-Douglas production function given the following parameters. The maximum about of…

A: (Q) Optimize the Cobb-Douglas production function given the following parameters. The maximum about…

Q: Let Q = F(K, L) = KL denoted a production function with K as capital input and L as labour input.…

A: We are going to answer this question using two variable maximization technique. Note: As per…

Q: Assume the production function is given by: f(x1, x2) = (2x9.253.r5)³. What is the absolute value of…

A: A production function is a mathematical relationship between the physical output of a production…

Q: which of  the following functions satisfy the following properties: i) Increasing in both inputs.…

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Q: With a production function of  Q = L + 2K if r = $4 and w = $4, how many units of capital and labor…

A: Profit maximizing firm would employ labor and capital at the point where the marginal productivity…

Q: Suppose that firms face the following production function: Q = L+7* +K+/*. Suppose also that price…

A: A firm optimal production occurs at the following point: (MPL / MPK) = (w /r)…

Q: Consider several production functions below and indicate whether they exhibit constant, increasing…

A: The markets are the place where the buyers of various goods and services tend to interact and meet…

Q: Assume the following production function for maize: Q=3K^1.2 L^0.5, where Q is the number of bags of…

A: We are going to find MRTS, factor intensity and returns to scale to answer this question.

Q: find the levels of labor and capital that maximize the level of output for a total outlay of 240…

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Q: Given the production function Q=100 L.K and cost budget=1000JD ; w (price per unit of labor)=8;r…

A: The optimal production is the point where marginal rate of technical substitution is equal to price…

Q: subject to the budget constraint 5L + 10K = 75; where L is labour and K is capital. Derive the…

A: The production function shows the relationship between the output and inputs.  The equilibrium is…

Q: For the production function Q = 0.2L2  returns to scale is: a.Constant Returns to Scale…

A: Returns to scale exhibits what happen to scale of production in long run when its factor of…

Q: Q=L3/4.K1/4 Find out the optimal quantities of the two factors using Lagrangian method, if it is…

A: Production function is  Q=L3/4×K1/4 Wages = Rs.6 Capital = Rs.3 Total Cost = Rs.120 Find: Optimal…

Q: Suppose the production of airframes is characterized by a CobbDouglas production function: Q =LK.…

A: The Cobb-Douglas (CD) production function is an economic production function that describes the…

Q: The Cobb-Douglas production function is a classic model from economics used to model output as a…

A: a) For the formulation of the model: For the max = 6 with L0.75 & C0.25 P(L,C) = 6L0.75C0.25…

Q: Suppose a Cobb-Douglas Production function is given by the function: P(L, K) = 8L0.' K0.9 %3D…

A: The cost is the amount that is incurred for using the factors of production to produce goods and…

Q: Question 4: Given production function: Q = L 3/4 . K1/4 Find out the optimal quantities of the two…

A: here we calculate the optimal Quantities by using the Lagrangian method and using the given…

Q: The following production function and cost constraints are given find the values of L, K and 2 by…

A: The production function is the maximum output that can be produced with the given technology and the…

Q: In the long run, the farmer can change both his amount of land and his amount of labor. Suppose he…

A: The graph between labour and output is represented by the table given below, the production function…

Q: The production function q = 9K0.8L0.1 exhibits: a. increasing retruns to scale  b. constant…

A: The relationship between ou>tput and proportional increase in all the inputs is referred to as…

Q: If the production function is Q = K5L.5 and capital is fixed at 1 unit, then the average product of…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…