Review Question 111 Question 1/1 pt Suppose thata firm's production functionistur q=10155 Is n aigiga product functions arecious an MP=5K0.50.50.50.5 112- 98- 84- and MR = 5L05/K5=0.5x05 Review Question 14: Question 1/1 pt! Exercise 11 The cost of a unit of labor, w, is and the cost of an nit of capita, r, is $50. Isoquants farli outub of 143 and 280 are illustrated in the figure to the right. 714 KUnits of capital 70- 56- 42+ ts 28- Question 0/1/pt Initially, the firm is producing 14d units of output and has determined that the cost-minimizing t quantities of labor and capital are:14 and 14, trespectively. IN E P 16. 14- Concept Question 5.4 Question 0/1 pt: Suppose now that the firm want to increas acoutput to 280 units. If capital is fixed in the t short run, how much labor will the firm Irequire? i 37 44380 4.140 14 28 42 56 70 8-4 112 L, Units of labor This firim wilinow require 56 units of labor.tEnter your response rounded to two decima! plabes). 115 b Concept Question 5.7" K 3+ 1:41: units. (Enter your LT ΕΝ Question 03 pt 1 Exercise 12: Question C1 pt> Concept Question 16.4.44 Question 0/1 pt: Concept Question 7.33 Question 01 p If thieimarginal rate of technicall tubstitutions find the optimal level of capital and labor required to produce the 280 unhs of cutput: c ut t The optimal level of capital is a units and the optim: I level of labor is responses as integers.) Ive this Etext pagge: Get mare halp > Clear all Check answer
Review Question 111 Question 1/1 pt Suppose thata firm's production functionistur q=10155 Is n aigiga product functions arecious an MP=5K0.50.50.50.5 112- 98- 84- and MR = 5L05/K5=0.5x05 Review Question 14: Question 1/1 pt! Exercise 11 The cost of a unit of labor, w, is and the cost of an nit of capita, r, is $50. Isoquants farli outub of 143 and 280 are illustrated in the figure to the right. 714 KUnits of capital 70- 56- 42+ ts 28- Question 0/1/pt Initially, the firm is producing 14d units of output and has determined that the cost-minimizing t quantities of labor and capital are:14 and 14, trespectively. IN E P 16. 14- Concept Question 5.4 Question 0/1 pt: Suppose now that the firm want to increas acoutput to 280 units. If capital is fixed in the t short run, how much labor will the firm Irequire? i 37 44380 4.140 14 28 42 56 70 8-4 112 L, Units of labor This firim wilinow require 56 units of labor.tEnter your response rounded to two decima! plabes). 115 b Concept Question 5.7" K 3+ 1:41: units. (Enter your LT ΕΝ Question 03 pt 1 Exercise 12: Question C1 pt> Concept Question 16.4.44 Question 0/1 pt: Concept Question 7.33 Question 01 p If thieimarginal rate of technicall tubstitutions find the optimal level of capital and labor required to produce the 280 unhs of cutput: c ut t The optimal level of capital is a units and the optim: I level of labor is responses as integers.) Ive this Etext pagge: Get mare halp > Clear all Check answer
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter21: Production And Costs
Section21.5: Production And Costs In The Long Run
Problem 1ST
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Transcribed Image Text:Review Question 111
Question 1/1 pt
Suppose thata firm's production functionistur
q=10155
Is n aigiga product functions arecious an
MP=5K0.50.50.50.5
112-
98-
84-
and
MR = 5L05/K5=0.5x05
Review Question 14:
Question 1/1 pt!
Exercise 11
The cost of a unit of labor, w, is and the cost of an nit of capita, r, is $50. Isoquants farli
outub of 143 and 280 are illustrated in the figure to the right.
714
KUnits of capital
70-
56-
42+
ts
28-
Question 0/1/pt
Initially, the firm is producing 14d units of output and has determined that the cost-minimizing t
quantities of labor and capital are:14 and 14, trespectively.
IN E P
16.
14-
Concept Question 5.4
Question 0/1 pt:
Suppose now that the firm want to increas acoutput to 280 units. If capital is fixed in the t
short run, how much labor will the firm Irequire? i
37
44380
4.140
14
28
42
56 70 8-4
112
L, Units of labor
This firim wilinow require 56 units of labor.tEnter your response rounded to two decima!
plabes).
115 b
Concept Question 5.7"
K
3+
1:41:
units. (Enter your
LT
ΕΝ
Question 03 pt 1
Exercise 12:
Question C1 pt>
Concept Question 16.4.44
Question 0/1 pt:
Concept Question 7.33
Question 01 p
If thieimarginal rate of technicall tubstitutions find the optimal level of capital and labor
required to produce the 280 unhs of cutput: c
ut t
The optimal level of capital is a units and the optim: I level of labor is
responses as integers.)
Ive this
Etext pagge:
Get mare halp >
Clear all
Check answer
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