Margeʹs Hair Salon production function is Q = f(K, L) = K0.5L0.5 where K is the number of hair dryers and L is the number of labour hours she employs. 1. Prove, with the aid of mathematics, the type of returns to scale exhibited by this production function.

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A: Return to scale: It tells us that if we increase capital and labor by a factor of 't', then how much…

Q: the returns to scale for the following production functions: q = K.34L.34 q = KLM

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A: Returns to scale decribes how output changes when inputs change by a certain percentage.

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A: The question is what magnitude that production function returns to the firm under consideration. The…

Q: DRYERS 6 8 8 8 8 8 8 8 8 8 90 80 70 40 30 20 10 B a. C, D, and A b. B O C. C, D d. C, D, and B D 10…

A: PPF is the production possibility frontier. PPF shows the production possibility of two goods in an…

Q: For the production functions of (1) and (2) create the isoquants for q = 100, and for q = 144 with K…

A: Isoquant curve represents the influence of all inputs on the level of output.

Q: (5) Consider the Cobb-Douglas production function f(x1, x2) = Axqx½. (a) For what valucs of a and b…

A: ANS When the rise in the amount of output(o/p) is more than the rise in the amount of input (i/p)…

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A: We have given production function where each one is a function of both L and K.

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A: (a) Number of workers Output MPL 0 0 NA 1 50 50 2 110 60 3 300 190 4 450 150 5 590…

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A: Production function: Here B denotes the number of cups of Clorox bleach and G denotes the number of…

Q: Which of the following production functions exhibit(s) constant returns to scale? I. Q= KL K+L II. Q…

A: Given:  There are three production functions: 1. Q=KLK+L2. Q=2K+L3. Q=K0.8L0.2

Q: 0.5 Consider the following production function: ƒ(2₁, 22) = 21 +22 a) What kind of returns to scale…

A: Production function shows the relationship between the input and the output. Production function…

Q: Consider the following Cobb-Douglas production function, where a = ß=0.5: Q=K&LB. Find the equation…

A: An isoquant depicts all the possible combinations of inputs (labor or L and capital or K in the…

Q: A firm can manufacture a product according to the production function Q = F(K, L) = KO.50LO.50. (a)…

A: The production function refers to the functional relationship between the given input and the…

Q: 4. Characterize the returns to scale of the production function (a) (doing the same for production…

A: Solution for 4b: Production function: y = ln (1 + x1x2 + x1x3 + x2x3 )

Q: Given that the production function Q=L^0.75 K^0.25, describe the type of returns to scale exhibited…

A: Given: Q=L0.75K0.25

Q: Which of the following production function exhibits constant returns to scale. a)q=KL b)q=KL^0.5…

A: A production function is a mathematical e­xpression that depicts the re­lationship between inputs…

Q: The production function y =2( K0.3 L0.2 ) exhibits constant returns to scale.

A: Production function shows relationship between output produced and inputs used in the production.

Q: wheat is produced according to the production function q = 100(K0.8L0.2) a. Beginning with a…

A: a production function gives the technological relation between quantities of physical inputs and…

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A:

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A: MRTS is amount of one input that needs to reduced ,so that one more unit of other input can be used…

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A: Marginal product is the change in output level due to the increment of an additional unit of input.

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A: Law of diminishing marginal returns says that when one additional unit of any one of the factors of…

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A: Total cost is the sum of fixed cost and variable cost.Fixed cost is the cost that doesn't changes…

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A:

Q: Suppose that a rock star gives concerts. The production function of the concert is the following:…

A: To answer this question we are going to solve for total cost function and condition for optimally.

Q: QUESTION 1 For the production function Qs = K0.8L0.3 find the returns to scale, recall that a…

A: Return to scale: It tells us that if we increase capital and labor by a factor of 't', then how much…

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A: The Marginal Product of Labor (MPL) represents the change in output resulting from employing an…

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Q: y = F(L,K) = min(L,3K) Show if the leontie

A: Here, we have to find constant returns to scale.

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

A:

Q: Describe with the aid of an isoquant map, the relationshipb the behaviour of a firm's short-run and…

A: The link between {the quantity|the number|the quantity} of productive inputs (such as labour and…

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A: Given information: At university, you will pay $15,000 each year for tuition, $3000 each year for…

Q: Assume a Cobb-Douglas production function of the form: q=10L0.98K0.88 What type of returns to scale…

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A: The production function shows the relationship with the input used and output produced.There is…

Q: If the production function is f(x1,x2) = x1,x2. a. Show whether this production function exhibits…

A: a.  The production function is f(x1,x2) = x1.x2 f(x1,x2) = x1.x2f(λx1,λx2) = λx1 λx2f(λx1,λx2)…