Suppose a firm optimizes the profit function: Y - wN, and the production function is given by Y = 500N1/4. What is the value of dN*/dw? Evaluate at w = 10. %3D

Q: Assume a Cobb-Douglas production function of the form: q = 10L0.24 K0.51 What type of returns to…

A: Return to scale define the level of production in the firm , so here we calculate the return to…

Q: The company Tres Monjitas faces the following production function: Q = L K and has t lowing prices…

A: A firm will maximise its profit at a point where marginal rate of technical substitution is equal to…

Q: The production function for a firm is:                  q=-0.6L3+18L2K+10L where q is the amount…

A: Production function  q = -0.6L3+18L2K+10L  In short-run, the capital K is fixed at K=1 So short-run…

Q: TP = 500 kº.7L0.4 B = 50,000 P₁ = 300 P₁ = 500

A: We have isocost equation as B = K*Pk + L*PL

Q: 1. Suppose the production function for sea waters during a particular period is represented by…

A: Q = F(K,L) = 6000 K2 L2 - 1000 L3This is a given production function which explains the relationship…

Q: For each of the following production functions, where y denotes the output and ti, i = 1,2 are…

A: Production Function represents the physical relationship between the input and the output. The…

Q: Consider the following CES function 0-1 0-1 = A( aK, + (1 – a)L,º As o → 0, prove the Leontief…

A:

Q: A firm produces output according to the production function Q = F(K, L) = 4K + 8L. A. If the wage…

A: Rent of capital = $20 Wage rate = $60 Total output = 32 units

Q: If the firm made total sales of $968 million (mn) in 2020, spent $121 mn on inputs and $52 mn on…

A: Gross margin is the difference between revenue and cost of goods sold, divided by revenue. Gross…

Q: 3. In the short term, a company has the following cost function and product function. C(N)= 10 000 +…

A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: factors of production

A: The production factors help the production process to run efficiently. There is main four production…

Q: If the firm made total sales of $999 million (mn) in 2020, spent $197 mn on inputs and $193 mn on…

A: Net Profit margin is a measure to calculate the profit , so here we calculate the Net Profit Margin…

Q: For the following cost function TC = a + bQ – cQ2 + dQ3, determine the equations for TFC, TVC, AFC,…

A: Given: The cost function is:  TC = a + bQ − cQ2 + dQ3 To Find: The equations for TFC, TVC, AFC, AVC,…

Q: Suppose a firm producing metal rods in the short run faces a production function of the form.   Q =…

A: Given production function  Q = 100K2L2 – L3K3  K= capital L=labor K= 10 units fixed.

Q: QUESTION 23 indicate whether the inputs below are variable (V) or fixed (F) in the short run. Input…

A: The factors of production are the resources/inputs that are used in production of goods and services…

Q: A manufacturing Company has estimated its quarterly demand (units) as shown in the following table.…

A: Before Quarter one Production should be 1600

Q: What do constant returns to scale indicate that a firm is experiencing? an increasing marginal…

A: please find the answer below.

Q: ssume that the production function of a firm is Q = L0.23K 0.10 . L = labor, K = capital.…

A: Marginal Rate of Technical Substitution (MRTS) = MPL/MPK

Q: A firm has production function q = K/2L1/2 with fixed capital of K = 16. The firm hires labour and…

A: A firm's profit function shows the margin between its costs and revenues from producing and selling…

Q: indicate whether the inputs below are variable (V) or fixed (F) in the short run. Input Output Meat…

A: Inputs also known as the  factors of production are the resources that can be used in the production…

Q: If MPL=5L*1/3 is a firm’s marginal-product function, where L is the single input labor and output is…

A: Given  The marginal product of labor: MPL=5L*1/3or MPL=5L×13 We have to find the production function…

Q: Which of the following is a typical example of a fixed cost of production in a business firm?  A.…

A: Fixed Cost is one time cost which is incurred at the setting up of a business. The difference…

Q: Assume a production function with constant returns to scale. Labour's share of income is 4/5 and…

A: Capital = α = 1/5 Labor = (1- α )= 4/5 Y= A*Kα*Lα      (Cobb Douglas)Y= A*K1/5L4/5     which is a…

Q: A Cobb-Douglas production function for new company is given by FF(KK, LL) = KK3/5LL2/5 where K…

A: The optimal quantity of labor and capital would be when MPL / MPK = W / R

Q: Consider a Cobb-Douglas production function, Y=zKα(Nd)1−α, with 0< α <1. (a) Show that this…

A: From this, it follows that production function shows a constant return to scale.

Q: R 12-2 A Japanese synthetic rubber manufacturer's production function is q = 10-L05 K Suppose that…

A: q=10L0.5K0.5 -----------------1 w=$11  r=$44 MPL = 5*K0.5L-0.5  MPK = 5*L0.5K-0.5

Q: You are a manager for a company that manufactures office furniture. To estimate the production…

A: Given; Production function, Q = 2(K)1/2(L)1/2 Amount spend on 9 units of capital equipment = $8000…

Q: The nominal interest rate is equal to i=0,04, and the rate of depreciation of capital is d=0,09. The…

A: We are going to use the relationship between Marginal product of capital and user cost of capital.

Q: There are three factors of production, capital, K, skilled labour L; and unskilled labour Ly. Which…

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

Q: It costs a firm C(q) to produce q units of output. If C(q) = q° – q² what kind of returns to scale…

A: Given  Cost function  C(q)=q3-q2  To know the return to scale of of production technology, we need…

Q: Identify the returns to scale (increasing, constant, or decreasing) for the following production…

A:

Q: Consider a firm's capital demand problem. The production function is F (K, L) = 16K 3 L3 Suppose L =…

A: Given information: F(K,L) = 16K1/3L2/3  -----------> Production function L=10 --------> Labor…

Q: 2. Which of the following production functions with inputs K, L, and H exhibits Constant Returns to…

A: The firms, and businesses are considered to be important entities in an economy who are involved in…

Q: In the short run, a firm which has production function f(L, M) = 4L"²M² must use 4 machines. If the…

A: Answer to the question is as follows :

Q: Determine the returns to scale for the following production functions. a) ? = K + 7L b) ? = KL3

A: Return to scale:- Returns to scale is a phrase that describes how proportionally fluctuations in…

Q: Shows the derivative function of: TC = 4Q² + 2Q + DC(Q) + FC, where TC = Total Cost, DC =…

A: To find the derivative function of total cost, we differentiate the total cost function with respect…

Q: Entrepreneurs are the residual claimants at their respective firms. This means that they: a. Only…

A: Entrepreneurs are the agent who combines all the resources to make a product or it is the person who…

Q: e Cobb-Douglas production function Y = AKO.3L0.7 is a(n) production function, if A, K A.…

A: Constant returns to scale occurs when increase in all factors of production leads to same…

Q: 9. For which of the following production functions could the long-run expansion path be vertical,…

A: The expansion path of the firm is that the locus of cost-minimizing mixtures of inputs at numerous…

Q: Given the production function: q(K,L) = 3K +L re6, w=3. What is the total cost function, C(a)? OA 49…

A: Given production function :- q(K, L) = 3K + L  Input prices :- r = 6, w = 3

Q: A firm produces using a production function given by F(K, L)=ln(K42+40L). The firm employs 100…

A: A production function illustrates the relationship between the quantity of inputs used and the…

Q: You own a farm that requires spending of $93,318 to generate $275,393 per year. You discover that…

A: Given; Revenue generated= $275,393 Amount spend on farm= $93,318 It is discovered that the farm is…

Q: Optimal Level of Variable Input Usage - Define the following • Total Revenue Product (TRP) = Q•P •…

A: NOTE: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

Q: Which of the following production functions will result in a non-linear long-run expansion paths? O…

A: Meaning of Production Function: The term production function refers to the situation under which a…

Q: Draw a theoretical inverted abatement cost curve when the Marginal Rate of Transformation is…

A: Marginal abatement cost curve shows the relationship between the amount of pollution abated by a…

Q: Paradise Pottery had the following costs in May when production is 800 ceramic pots: materials,…

A: Fixed and variable costs When a company manufactures a product, it will incur two types of costs:…

Q: Polyoak Containers produces milk cartons that are sold to dairy distributors.  Polyoak has estimated…

A: We are going to use Marginal rate of technical substitution to answer this question.

Q: How would you determine that a two-input Cobb-Douglas production function has decreasing returns to…

A: Answer to the question is as follows :

Q: Refer to the table below. Assume that the company involved now finds that the learning rate is 71…

A: Y = aXb. where Y = Labor Time Required to Produce the Xth Unit X = Unit Produced b = 71 percent…