As we move downward along a typical isoquant, the slope of the isoquant Select one: a. becomes steeper. b. becomes flatter. c. becomes linear. d. remains constant.
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Lesson 7- Production
Question 4
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- Define the strict gradient series?Please provide the excel formula because I am not understanding what I'm doing wrong with the gradient and percentages. Thank you.I have graphed the isoquant line but I can’t figure out how to graph the isocost line? Could you verify my math and show the isoquant and isocost line graphed please?
- What is MRTSL,K of an L-shaped isoquant? Please explain thank you!10. Consider the following isoquant - isocost diagram (i.e., graph). K a. C. MPL b. = W a MPL Z W O a Ob Od С MPK r MPK d. The slope of the isocost is not e. MPL must be greater than MPK. d MPK r e 31> 90 W L"IGNORE constant returns to scale" What is true about a function that has decreasing returns to scale as well as increasing returns to scale?
- I am having some trouble understanding how to graph the LRATC curve for the chart in this questionQ5. Make a hypothetical data table and try to make interrelationships between AC, MC and AVC for ten observations. Keep in mind the trend of certain variables. Support Your answer with the help of correct graphs and their respective interpretations like Q TFC TVC TC ATC AVC AFC MC 1 2 3 4 And So onCost curves Egidio Binaccio designed an ancestry app that allows people to connect with long lost Italian relatives. Egidio notices the following relationship between the number of hours he schedules and the number of downloads (sales) he gets. Below is a production function, for Egidios current company set up. NUMBER of LABOUR DOWNLOADS HOURS B) 10 C) 20 30 40 50 60 70 80 90 100 110 120 130 140 6.50 11.00 14.50 17.50 20.50 23.75 27.50 32.00 37.50 44.50 53.50 65.00 79.50 97.50 TVC TC MC AVC Suppose the firm can hire all the labour it would ever want at the going wage of $8 per labour-hour. The firm's total fixed costs are $64 per day. A) ATC Fill in the table showing total variable cost (TVC), total cost (TC), average variable cost (AVC), average total cost (ATC), and marginal cost (MC). [Remember: Marginal cost should be entered midway between rows of output.] On a graph with DOWNLOADS (per day) on the horizontal axis, draw the three "per-unit" cost curves, AVC, ATC, and MC. [Note…