Q.1. Use production function q(L, K) = L K and derive the followings: (a) (b) 360€ (c) (d) Short-run and long-run profit functions Short-run and long-run cost functions Short-run and long-run supply function using Hotelling's lemma. Short-run and long-run supply function using Shephard's lemma.

Q: 100 90 80 ATC 70 50 30 AVC 20 MC 10 + 0 0 5 10 15 20 25 30 35 40 45 50 QUANTITY (Thousands of pans)…

A: In perfect competition we assume that the marginal cost curve is same as the supply curve. The below…

Q: What is the Original Measure (Base Period)?

A: For comparison with other periods, the base period refers to the period of time used as the basis…

Q: 2-30 Bismarck Manufacturing intends to increase capac- ity through the addition of new equipment.…

A: The Break Even Point is the production level where total revenues equal total expenses. At that…

Q: The firm's total profit or loss is $ Price, cost $495 $450 $300 $225 205 260 Quantity MC 339 365 ATC…

A: Perfect competition is a market form with a high number of buyers and a high number of sellers.…

Q: Download Q4 and generate a model of the annual maintenance expenses based on the age of the bug. If…

A: We can construct a regression model to analyze the relationship between the age of the bus and…

Q: PLABOR МIC $7.00 -S $5.25 $4.50 MVP QLABOR 1000 1500

A: Monopolist equilibrium is found at the intersection marginal input cost curve and Marginal value…

Q: 6. What is the value of X? 72 (a) 2200 (b) 4400 8400 (d) Can't say; insufficient information = con8-…

A: Here, X is the Total Cost (TC) when the input level is 1200.

Q: Use the values in the table below to answer the following questions. MC TC АТС 46.47 15.49 20.13 -(…

A: Average total cost is the ratio of total cost and quantity. ATC = TC/Q TC = ATC*Q

Q: David gets paid $26 per hour and works 60 hours per week. He typically allots himself 80 hours per…

A: Before Change in wage -Original Wage rate = 26 per hour Working hours = 60Total Hours = 80 Leisure…

Q: PLS HELP ASAP ON BOTH

A: References: Koijen, R. S., & Yogo, M. (2022). New perspectives on insurance. The Review of…

Q: Give some examples of the project cash flow?

A: Project cash flow is the net amount associate with a project during a period of time.

Q: Question: When G is assumed to be exogenous (5#), what other methods can you think of to shift the…

A: The IS curve shows the relationship between the level of real GDP and real interest rate. Real…

Q: What is 1/2% increase of 277000

A: A figure or ratio stated as a fraction of 100 is called a percentage. The percent sign is frequently…

Q: Fill in the missing values: QP TC TB Tprofit MC MB Mprofit ATC AFC AVC 16 500-50 ΝΑ ΝΑ ΝΑ ΝΑ ΝΑ ΝΑ…

A: Fixed cost is the cost that incur even in zero level of production.  Total cost is the sum of Fixed…

Q: The graph represents the market for artichokes (in pounds per week) at a Midwest farmers' market.…

A: Economic surplus:- Whenever a seller sells something for more money than he would have been prepared…

Q: find the TP and AP unit TP AP MP 1 20 20 0 2 32 16 12 3 54 18 22 4     26

A: The table is completed as follows.

Q: Coffee Tuition Pizza Item Streaming TV Vacation Quantity 20 pounds 1 year 150 pizzas 12 months 1…

A: ItemQuantityUnit PriceExpenditure (in $)Item WeightCoffee20 pound$ 71400.22Tution1…

Q: typing clear no chatgpt used i will give 5 upvotes i need both answers

A:

Q: In the short run, a tool manufacturer has a fixed amount of capital with labor as its primary…

A: A production function illustrates the relationship between the inputs used and the output produced…

Q: PLABOR МIC $7.00 -S $5.25 $4.50 MVP QLABOR 1000 1500

A: The monopsony is a market structure which is characterized by the presence of a single buyer in the…

Short-Run Costs and Long-Run Costs

Cost of short-run and the long-run is an economic term that describes the cost involved in the production of goods in a firm in the short as well as long period.