Q: the returns to scale for the following production functions: q = K.34L.34 q = KLM
A: DISCLAIMER “Since you have asked multiple question, we will solve the first 3 question for you. If…
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: H8. Which of the following production functions exhibit(s) constant returns to scale?I. Q = Min…
A: There are CRS if the doubling the all inputs result in the double of output.
Q: A business whose only inputs are labour and capital expands its employment level in the long run…
A: a. When labor is 12 and machine is 4 then TC = 100 × 12 labors + 20 ×4 machines=1200 + 80=$1280TC…
Q: Find out the maximum possible output for a firm with zero unit of L and 10 units of K when its…
A:
Q: Which of the following production functions demonstrates constant returns to scale? I. Q=5L+2K II.…
A: Constant returns to scale condition.Q(λK,λL)=λQ(K,L)
Q: Given the production function Q=30K0.7 L 0.5 the input price are w=30 a Determine the equation…
A: Given the production function Q=30K0.7 L 0.5 the input price are w=30 and r=20 Determine the…
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: The engineers at Morris Industries obtained the following estimate of the firm’s production function…
A: Firm’s production function is shown below.
Q: A firm has a short-run production function as Q = 50 L + 6 L2 – 0.5 L3 Where Q = Quantity of…
A: The short-run is the time period where at least one factor is fixed and others are variable. In…
Q: For K > 0 andL > 0, the production function F(K,L) = 2KL + K has a. increasing returns to scale b.…
A: It has given that, K > 0 and L > 0 Now,F(K,L)=2KL+KAs K>0 and L>0lets assume K=2 and…
Q: The production function f(L, K) =50k0.25 L0.75 exhibits increasing returns to scale. decreasing…
A: In economics, returns to scale measures the proportionality of change in output when the inputs are…
Q: Show whether the following production functions exhibit decreasing returns to scale (DRS), constant…
A: Production function shows the output produced in an economy by using the available factors of…
Q: Answer all the following seven parts. (a) Show the conditions for a Cobb-Douglas production function…
A: The term "long-run" refers to a period during which the production function is determined solely by…
Q: The engineers at Morris Industries obtained the following estimate of the firm's production…
A: Production Function i.e., Q = F(K,L) where, Q is the total number of output produced, k…
Q: Labor, L, and capital, K, are the only inputs in each of the following production functions: 91 =…
A: The production function is a relationship between the number of inputs (independent) that a firm…
Q: If the fixed input is the two hectare of land and the variable input is fertilizer explain how the…
A: The law of diminishing marginal utility states that when an individual absorbs an object or a good,…
Q: If a firm's production function is given by Q = K0.3L0.3 then it exhibits а. Decreasing returns to…
A: Returns to scale: - returns to scale, show the change in output due to the change in scale of…
Q: Suppose that the production function is given as follows: TPL = 10L + 5L2 + L3 Find the total…
A: The total product of labour represents the total output produced by labour in a firm. The average…
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: At what level of output will average variable cost be at a minimum? What is the minimum average…
A: The average variable cost or AVC is the total (TVC) variable costs per unit of (Q) output. These…
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: 6. Optimize the Cobb-Douglas production function given the following parameters. The maximum about…
A: Answer Given : q= K0.4 L0.6 LPl + KPk = C Where C= Cost Lagrange function: La= q-a(Lpl+KPk-C)…
Q: The chief economist for Argus Corporation, a large appliance manufacturer, estimated the firm’s…
A: We can use the given regression equation to estimate the average variable cost for the level of…
Q: Determine whether the following production functions exhibit constant, increasing, or decreasing…
A: When increase in all inputs results in same proportional increase in output, production function…
Q: Consider several production functions below and indicate whether they exhibit constant, increasing…
A: The markets are the place where the buyers of various goods and services tend to interact and meet…
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: verage fixed cost (AFC) A) rises as output rises. B) rises as output falls. C) falls as output…
A: Average fixed cost (AFC): - it is the per-unit fixed cost or we can say the average value of fixed…
Q: The chief economist for Argus Corporation, a large appliance manufacturer, estimated the firm’s…
A: Average variable cost: It is a company's variable costs partitioned by the amount of yield created.…
Q: The Cobb-Douglas production function for a company building widgets is given by Y = AL K*- where Y…
A: Given: β = 0.81Y = ALβK1-β
Q: The production function is y = (L^0.5)(C^0.5), this technology exhibits constant returns to scale.…
A: Production function can exhibit constant returns to scale, decreasing returns to scale or increasing…
Q: 1. Find the returns to scale for the following production functions: a. q = K 34L_34 b. q = KLM c. q…
A:
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: 71. Diminishing returns can be caused by: the physical limitations of variable inputs the physical…
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: Q2. Determine the returns to scale of the following production function: Y = 5K0.5 +3L0.5 (a)…
A: Returns to scale refers to how production of a good changes when units of both inputs change.
Q: 6. Optimize the Cobb-Douglas production function given the following parameters. The maximum 12 and…
A: Here taking derivatives with the function given with respect to L & K: With respect to…
Q: Questions 3. For each of the following production functions, determine whether it exhibits…
A: "In economics, production function indicates the relationship between the factor inputs used in the…
Q: Consider the following production functions and match them to the word that describes their returns…
A: When considering the production function and test their returns to scale. We multiply the production…
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: . The chief economist for Argus Corporation, a large appliance manufacturer, estimated the firm’s…
A: Given: AVC = a + bQ + cQ2 Total fixed cost each month is- $180,000. To Find: Are the estimates ˆa,…
Q: What is the cheapest way of producing 850 units of output if a firm operates with the production…
A: It is given that;
Q: Does this production function q = 9K0.8L0.1 exhibits [increasing return to scale, constant return…
A: Given: q = 9K0.8L0.1
Q: A firm’s production function is - y = f(X1, X2)= X11/2 + X1X2 , Where X1≥0, X2≥0 1. Find its…
A: The returns of scale are of three types 1. Increasing returns of scale 2. Constant returns of scale…
Q: Find out the maximum possible output for a firm with two units of L and 50 units of k when its…
A:
Q: A firm produces according to the following production Function: Q= K^0.4L^0.5. MCK is $10 per K, and…
A: Returns to scale is the increase in production due to same unit increase in the inputs, labor and…
Do the following production functions exhibit increasing, constant, or decreasing returns to scale? Provide calculations supporting your answers.
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- A trailer manufactor has multiple products designed to be towed by a pickup (Ford F-150, Toyota Tacoma, etc). The production of one of their products - the XL7 5x10 trailer - referred to as XL7510 here, has a fixed 9 cost of $62,308 and a variable cost per unit of XL7510 equal to 202 + - dollars, where is the total 10 number of XL7510s produced. Suppose further that the selling price of this product is 1118 The x-values of the break-even points are The maximum revenue is Form the profit function: P(x) = = The maximum profit is The price that will maximize profit is 1 - dollars per unit of XL7510. 10 dollars (round to the nearest cent) dollars (round to the nearest cent)-All constraints and linear programs should be derived with explanation and hand written. Linear programs (when asked for) should then be written in COMPLETE PROPER FORM (ALL constraints , organized order and clear identication of variable meanings). All diagrams and graphics should be presented (repeated) enough times to clearly demonstrate the work process that was followed in carrying out your work. Legibility is necessary. Excel can be used for calculations, but the pdf of this work must be \hand" augmented with clear indications of what was being carried out Excel sheets involving solver must be fully explained and the solver window itself should be screen capped and submitted as part of your presentation to show the linear program youasked excel to solve. This is the Steps please follow. And I need you to write the steps please. Step by Step= 2. The cost of operating a jet-powered commercial (passenger- carrying) airplane varies as the three-halves (3/2) power of its velocity; specifically, Co kny3/2, where n is the trip length in miles, k is a constant of proportionality, and vis velocity in miles per hour. It is known that at 400 miles per hour, the average cost of operation is $300 per mile. The company that owns the aircraft wants to minimize the cost of operation, but that cost must be balanced against the cost of the passengers' time (CC), which has been set at $300,000 per hour. At what velocity should the trip be planned to minimize the total cost, which is the sum of the cost of operating the airplane and the cost of passengers' time?
- Problem 1 Brutus Corporation produces two products, Paper Towel (P) and Foot Mop (F), which must be processed in two departments, Cutting and Finishing. Cutting has 130 hours available per month, while Finishing has 185 hours. The number of hours required to process the products in the two departments and the contribution margin per unit of the products are as follows: CM per unit Required hours per unit: Cutting Finishing Required: Paper Towel (P) 18 4 hours 6 3) In the Cutting constraint, if F=0, how much is P? 4) In the Finishing constraint, if P=0, how much is F? Foot Mop (F) 24 8 hours 10 |||Parts g) and h) onlySOLVE STEP BY STEP IN DIGITAL FORMAT The company Cielito S.A. It manufactures clothing for older adults and has a large presence in Mexico, due to the comfort and good taste of its garments. It has 60 seamstresses who work 8 hours a day; Indirect manufacturing expenses are $9,500.00 MXN. Every day Cielito S.A. produces 1,500 garments. The cost per hour of labor is $55.00 MXN. With this data, you must calculate: a. Labor or labor productivity. b. The productivity of manufacturing indirect expenses. c. The total productivity of Cielito S.A.
- Question 9 Trenny has asked her assistant to prepare estimates of cost of two different sizes of power plants. The assistant reports that the cost of the 150 MW plant is $220,000,000, while the cost of the 270 MW plant is $400,000,000. If Trenny has a budget of only $300,000,000, estimate how large a power plant she could afford using linear interpolation (Enter your answer rounded to one decimal place and in MW eg. XX.X)?An Apple Cars plant operates most efficiently (average unit cost is minimized) when producing 18,300 cars each month. It has a maximum output capability of 22,000 units per month (e.g., when its CEO, Tim Chef, forces everyone to work crazy amounts of overtime), and can make as few as 7,000 units per month without forcing the hand of executives to shift production to another plant. If the plant makes 12,770 cars in December, what was the capacity utilization rate? Round your final answer to 1 decimal place, and enter it as a percent without the percent sign; for example, use 18.9, not 18.9% or .2. Capacity utilization rateContour crafting was invented by a creative genius engineer whose idea was originally focused on constructing molds for industrial parts. He later expanded his thinking to rapid home and building construction to help during storm recovery. Think of it as 3-D printing of a home where electrical, plumbing, utilities, custom electronics, and such are installed as the home is "printed" layer by layer and potentially in one day. Precision computer-controlled near-concrete material is applied layer by layer by an apparatus with material feed, various controls for shaping in three dimensions, electronic connections, and for larger applications it uses lattice-like tower elements for support and control of the configuration. Consider a "CC Apparatus" of the appropriate size for contour crafting an industrial building. The initial cost is $215,000 and may be sold in year t for 0.6^t of the original price. Operating costs are $65,000 the 1st year, increasing by 6% per year. Due to the continual…
- 10K L%. 1). Consider the production function Q = (a) What is the output when K = 100000 and L = 243? (b) Use the marginal analysis to estimate Q(99995, 243) and Q(100000, 245). (c) Use a calculator to compute these two values of Q to three decimal places and compare these values with your estimates in (b). (d) How big must AL be in order for the difference between Q(100000, 243+AL) and its linear approximation Q(100000, 245) + -DAL, to differ by more than two units?I need the solution of Part (c,d,e)Price and cost ($ per 1,000-gallon unit) Return t A municipal water utility employs quasi-fixed capital inputs-the water treatment plant and distribution lines to homes-to supply water to 20,000 households in the community it serves. The figure below shows the cost structure of this utility for various levels of water service. Quantity of water consumption is measured in 1,000-gallon units per month. AQFC is the average quasi-fixed cost curve, and LAC is long-run average cost. Long-run marginal cost, LMC, is constant and equal to $4 per 1,000-gallon unit. The inverse demand equation is P= 24 -0.0004Qd 10 14 MR Quantity (1,000-gallon units per month) Quasi-fixed capital inputs cost per month is $ LAC AQFC LMC D