Suppose a bakery has 14 employees to be designated as bread bakers (B) and cake bakers (C), so that B +C= 14. Given the following production functions, y = 480.5 and x= c0.5 an equation for the production possibilities frontier is y= 4/14-x Given the following production functions, y = B and x= 5c°.5, an equation for the production possibilities frontier is y =
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![Suppose a bakery has 14 employees to be designated as bread bakers (B) and cake bakers (C), so that B +C= 14.
Given the following production functions,
y = 480.5 and x= c0.5
an equation for the production possibilities frontier is
y= 4/14-x
Given the following production functions,
y = B and x= 5c°.5,
an equation for the production possibilities frontier is
y =](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F15075cbb-1585-4001-8b39-493310d05b8a%2F41dae1b6-305e-412d-bbcc-7caa470039e8%2F6fotv6b.png&w=3840&q=75)
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- please show graphs and table thank youSuppose a bakery has 14 employees to be designated as bread bakers (B) and cake bakers (C), so that B+C=14Prunella raises peaches. Where L is the units of labor she uses and T is the units of land she uses, her output is f(L, T) = L3T1/3 bushels of peaches. On the graph below, plot the input combinations for L = 1,2,4, 8, and 16 that give a total output of two bushels. To refer to the graphing tutorial for this question type, please click here. Production Isoquant 16 15 14 13 12 11 10 6. This production function exhibits returns to scale. 11
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- In economics and econometrics, the Cobb-Douglas production function is a particular functional form of ne production function, widely used to represent the technological relationship between the amounts of two r more inputs (particularly physical capital and labor) and the amount of output that can be produced by nose inputs. The function they used to model production is defined by, P(L, K) = 6LªK!-a where P is the total production (the monetary value of all goods produced in a year), L is the amount f labor (the total number of person-hours worked in a year), and K is the amount of capital invested (the onetary worth of all machinery, equipment, and buildings). Its domain is {(L, k)|L > 0, K > 0} because L nd K represent labor and capital and are therefore never negative. Show that the Cobb-Douglas production function can be written as P P(L, K) = 6LªK1-a → In K L In b+ a ln KQuestion 13 5 pts For the production function y = 4x1+ 3x2, which of the two inputs is more productive when x1 is 10 and x2 is 10? X1 X 2 neither; for this situation, they have equal marginal products cannot tell from the above information Question 14 5 pts Given the production function y = x1 1/3 x,1/3, what is the marginal physical product of x2 when x1 is 5 and x2 is 5? O 0.75 37 0.19 O 1.11Question 15 Consider the following figure (The following is a description of the figure: it shows a two-axis graph; the horizontal axis measures labor and the vertical axis measures output; for a level of K fixed, the graph shows that maximal production that the firm can achieve with different levels of labor; the graph starts at cero production for zero labor; then it is increasing in all of its range; five units of labor is shown as reference in the horizontal axis; the corresponding production for this level of labor is 200; the graphs slope is initially increasing, then there is an inflexion point to the left of five levels of labor; after this inflexion point, the slope of the graph is decreasing; a line that passes through zero and is tangent to the graph is also shown; this line is tangent to the graph for a level of labor that is to the left of 5.) Denote by APL(L,K)=f(L,K)/L the so-called average product of labor (here f is the production function of the firm). From the…
- In your "toast" production function, you used your labor and a toaster as capital. Keeping capital constant, i.e., with only one toaster if you keep adding the labor, i.e., bring your friends to help you with making toasts, which of the following might happen? Group of answer choices Marginal returns to labor will be a constant. Marginal returns to labor will keep decreasing and, after a point, it will become negative. Marginal returns to labor will keep increasing. Marginal returns to labor will keep increasing and then be a constant.Prof. Smith and Prof. Jones are going to produce a new textbook. The production function for the book is: ?=?1/2?1/2?= is the number of pages in the finished book?= is the number of working hours spent by Smith?= is the number of working hours spent by JonesSmith's labor is valued at 3 TL per working hour and Jones's labor is valued at 12 TL per working hour. After having spent 900 hours preparing the first draft, Smith cannot contribute any more to the book. Jones will revise the Smith's draft to complete the book.a) How many hours will Jones have to spend to produce a finished book of 300 pages?b) What is the marginal cost of the 300th page of the finished book?Consider an economy that produces two goods , X and Y. Use a production box diagram to construct the production possibility frontier for these two goods. Also indicate the optimal consumption point and price ratio that will prevail. Suppose now that technical progress causes the X isoquants to shift towards the origin. How will this affect the production possibility frontier, the optimal consumption point and equilibrium price ratio for X and Y