Show your work whenever possible. A firm has the following production function. Q=K.√L the rent (cost of capital) is $100 and wage (cost of labor) is $20. In the short run, the firm uses K=2. Please answer the following questions. - Please derive the total cost as functions of Q in the short run. (Hint: first derive the use of labor as a function of Q.) - If the market price is $30, please determine the short-run profit-maximizing output and profit. - Please derive the total cost as functions of Q in the long run. (Hint: consider first condition in the cost-minimization problem, and then derive the use of K and Las a function of Q.)

Show your work whenever possible. A firm has the following production function. Q=K.√L the rent (cost of capital) is $100 and wage (cost of labor) is $20. In the short run, the firm uses K=2. Please answer the following questions. - Please derive the total cost as functions of Q in the short run. (Hint: first derive the use of labor as a function of Q.) - If the market price is $30, please determine the short-run profit-maximizing output and profit. - Please derive the total cost as functions of Q in the long run. (Hint: consider first condition in the cost-minimization problem, and then derive the use of K and Las a function of Q.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

I need help with HW.
The graph shows the market for mugs in which the government has imposed a tax of $4 per mug. Draw a point to show the price paid by buyers and the quantity bought. Draw shapes that represent the following: 1) consumer surplus. Label it CS. 2) producer surplus. Label it PS. 3) the tax revenue received by the government. Label it TR. 4) the deadweight loss created by the tax. Label it DWL. >>> A label can be repositioned by clicking on the edge of the label box and dragging it onto the shape. esc ↑. C Selected: none $ ▸ 0
How do sales taxes typically apply in a business environment?
M1
what are the 2 kinds of land ownership
There is a bar on Off‐Main Street called the Rock‐n‐Roll Bar. All the people that go to that bar like to listen to rock‐n‐roll music, and they love live bands. If the bar owner brings bands in to play music on a Saturday night, she will make a lot of money. However there are tenants in this building who get annoyed by the loud music. The benefits/costs to the owner/tenants of having zero, one, two or three bands on a Saturday night are listed in the attached table. If the tenants have the right to be free of loud music enforced through a property rule, how many bands will play in Rock‐n‐Roll Bar on a Saturday night? A. Zero B. One C. Two D. Three E. It depends on transaction costs
why choose A?
Pls help ASAP
What are the Revenue projects?
There is a bar on Off‐Main Street called the Rock‐n‐Roll Bar. All the people that go to that bar like to listen to rock‐n‐roll music, and they love live bands. If the bar owner brings bands in to play music on a Saturday night, she will make a lot of money. However there are tenants in this building who get annoyed by the loud music. The benefits/costs to the owner/tenants of having zero, one, two or three bands on a Saturday night are listed below. Assume the bar owner has the right to hire as many bands as she likes. Iftransaction costs were $90, split between the bar owner and the tenants, how manybands would play? What would social welfare be? A. Three bands would play and social welfare would be ‐100.B. Two bands would play and social welfare would be 75.C. Two bands would play and social welfare would be ‐15.D. No bands would play and social welfare would be 0.E. Three bands would play and social welfare would be ‐190
write a explanation about UN sustainability goals 8 and 12 and elkington's triple bottom line and what these entail. (400 words)
There is a bar on Off‐Main Street called the Rock‐n‐Roll Bar. All the people that go to that bar like to listen to rock‐n‐roll music, and they love live bands. If the bar owner brings bands in to play music on a Saturday night, she will make a lot of money. However there are tenants in this building who get annoyed by the loud music. The benefits/costs to the owner/tenants of having zero, one, two or three bands on a Saturday night are listed below. If the tenants have the right to be free of loud music enforced through aproperty rule, how many bands will play in Rock‐n‐Roll Bar on a Saturday night? A. ZeroB. OneC. TwoD. ThreeE. It depends on transaction costs