Instacart offers consumers a convenient form of home delivery service for groceries. Units ofoutput (q) are individual grocery deliveries/day. Grocery deliveries are achieved through the useof delivery trucks (K) and workers (L). The price of labor (w) is $10/worker. Use the provided graphto answer the question below.K16151413543212111098765432321ΠΑ ABq=501 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17r == $9/unit of capitalq=100LPoint A lies on an isocost curve consistent with total cost = $120. Use your knowledge ofisocost curves to find the price of capital (r).r = $10/unit of capitalOr $11/unit of capitalr = $12/unit of capitalNot enough information is provided to answer this question

Isocost shows the same cost at all points of the curve. Isoquant curve shows the same quantity at…

Instacart offers consumers a convenient form of home delivery service for groceries. Units of output (q) are individual grocery deliveries/day. Grocery deliveries are achieved through the use of delivery trucks (K) and workers (L). The price of labor (w) is $10/worker. Use the provided graph to answer the question below. K 16 15 14 13 12 11 10 9 8 7 6 5 4 32 2 1 B r = $9/unit of capital C D q=50 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 r = $10/unit of capital q=100 L Point A lies on an isocost curve consistent with total cost = $120. Use your knowledge of isocost curves to find the price of capital (r). r = $11/unit of capital r = $12/unit of capital Not enough information is provided to answer this question

Instacart offers consumers a convenient form of home delivery service for groceries. Units of output (q) are individual grocery deliveries/day. Grocery deliveries are achieved through the use of delivery trucks (K) and workers (L). The price of labor (w) is $10/worker. Use the provided graph to answer the question below. K 16 15 14 13 12 11 10 9 8 7 6 5 4 32 2 1 B r = $9/unit of capital C D q=50 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 r = $10/unit of capital q=100 L Point A lies on an isocost curve consistent with total cost = $120. Use your knowledge of isocost curves to find the price of capital (r). r = $11/unit of capital r = $12/unit of capital Not enough information is provided to answer this question

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Tim is a baker who produces doughnuts. He can access labour at a rate of $2 per hour, and capital at a rate of $0.25 per machine hour. He produces doughnuts according to Q = L+ K0.5. If the bakery is operating with an optimal factor allocation, and producing 40 doughnuts per day, determine the average total cost of a doughnut. The bakery employs one worker, Anil, who consumes doughnuts (d) and other goods (y) with utility U(d,y) = edy. (Assume y is the Marshallian good, with Py=$1). %3D Sketch Anil's utility curve, and his budget, which is the pay he receives from his job. Do Anil's preferences satisfy the rules of preference ordering? Are there any constraints on his consumption of either good? Derive the supply and demand curves based on Anil's individual demand, and Tim's costs of production.
Problem 1. Costs for Sedate Sedan, Inc. (adapted from Nicholson). Sedate Sedan, Inc. uses robots and workers to assemble automobiles. There is a diminishing rate of technical substitution between robots and labour: robots do well at tasks that are purely repetitive, while labour does better at jobs that are less boring and require more thought. The various combinations of hours of robot use (r) and hours of labour use (1) needed to assemble sedans are described by the Cobb-Douglas production function: q = f(r,l) = ²√√√² 50 Note that marginal products for this production function are given by: MP: = 1 √r MP₁ Please make sure you know how to calculate them. This production function 100 Vi exhibits diminishing marginal products: the marginal product of robots decreases when more robots are used; the marginal product of labour decreases when more labour is used. The company can rent all the robots it wants for v = 40 dollars per hour and hire all the workers it wants at w = 40 dollars per…
I don't believe part (b) was fully answered. Can you please solve it with more detail?
If output rises from 120 units to 140 units as another worker is hired, and this additional worker receives $20 in wages, it follows that marginal cost is: none of these $1 $20 $12
Suppose that a unit of capital costs three times as much as a unit of labor.If a firm currently has a technology such that MPK =50, MPL =30, how should this firm adjust its capital and labor choices?
Consider the following production function: q=100L0.8K0.4 Currently the wage rate (w) is $2.00 and the price of capital (r) is $4.00. If the firm is using 100 units of capital in production, how much labor should be employed to minimize costs? Labor input = units. (Enter a numeric response using a real number rounded to two decimal places.)
Instacart offers consumers a convenient form of home delivery service for groceries. Units of output (q) are individual grocery deliveries/day. Grocery deliveries are achieved through the use of delivery trucks (K) and workers (L). The price of labor (w) is $10/worker. Use the provided graph to answer the question below. K 16 15 14 13 12 11 10 9 8 7 6 5 4 32 1 A B q=50 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Long Run Total Cost Curve L Let's say you drew a curve that passed through all of the long run cost minimizing input mixes associated with each of Instacart's isoquants. What is the name of this curve? O Input Expansion Curve C Output Expansion Curve q=100 O Short Run Firm Supply Curve
Please Answer with the step solution from sub parts 4 D,E. I need in 30 minutes thank u
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