What is the marginal physical productivity (MPP) of the inputs given the function Q = 12x² + 2x₁2 + 2x²? Select one: O a. MPPT, = 24x₁ + 2x₁ MPP₂ = 2x1 + 4x₁ O b. MPPT MPPT2 O C. MPPT1 MPPT2 - O d. MPPT - = 24+ 2x2 + 2 2x₁ + 4x₂ 24x1 + 2x2 MPPT₂ 2x₁4x2 24x₁ + 2x1 2x₂ + 4x2 -
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- What is the difference between a fixed input and a variable input?Q1 a) Given a production function depicting the response of paddy rice tofertilizer application,Y = 3X+ 9X2 - X3(i) Calculate the exact MPP and APP.(ii) At what level of fertilizer input(X) does MPP, APP and TPP reachtheir maximum values?(iii) At what level of fertilizer input will r = 0? And what is the valueof TPP at that level?(iv) If the farmer increases the amount of fertilizer in his riceproduction in his area of diminishing returns, explain whether ornot total production will increase or decrease.What is the marginal physical productivity (MPP) of the inputs given the function Q = 18z7 + 2x1#2 + 2x3? Select one: O a. MPP = 36x1 + 2x2 MPP, = 2x1 + 4x2 ОБ. МP, — 36+ 2г2 +2 MPP, = 2x1 + 4x2 %3D %3D O. MPP, 36x1 + 2x1 %3D MPP, = 2x1 + 4x1 %3D O d. MPP MPP, = 2x2 + 4x2 36z1 + 2x1 %3D %3D
- Q1 a) Given a production function depicting the response of paddy rice tofertilizer application,Y = 3X+ 9X2 - X3(i) Calculate the exact MPP and APP.(ii) At what level of fertilizer input(X) does MPP, APP and TPP reachtheir maximum values?(iii) At what level of fertilizer input will r = 0? And what is the valueof TPP at that level?(iv) If the farmer increases the amount of fertilizer in his riceproduction in his area of diminishing returns, explain whether ornot total production will increase or decrease.b) Explain the economic significance of farm records.Q2 a) What are the major objectives of agricultural marketing?b) Explain how one can evaluate the efficiency of a marketing situation.13. Suppose you have a production technology given by f(x1, x2) = min{2x₁, x2} and you are producing at the point where x₁ = 10 and x₂ = 20. (a) Explain in words what we mean (generally) by the ‘marginal product' of an input in production. (b) For the production technology in this question and the initial point x₁ = 10 and x2 = 20, what is the marginal product of a small increase in input 1? (c) Suppose input 2 increases and you are now at the initial point x₁ = 10 and x2 = 30. Relative to your answer in part (b), does the marginal product of input 1 decrease, increase, or stay constant? Explain briefly.Complete the table directly below by calculating MP and AP. Inputs ofL TP MP AP 0 01 152 343 514 655 746 807 838 82 Plot the TP, MP and AP and explain in detail the relationship between eachpair of curves. Explain why PM first rises, then declines, and ultimatelybecomes negative.
- A company has the following production function for its product, f(k, I) = k"/2/1/2. It faces input prices v = 5 for capital and w = 20 for labor. How much does the firm use of each input if it wants to produce 10 units of its product? O a. I= 4, k = 25 O b. / = 5, k = 20 O c. 1= 20, k = 5 O d. 1= 25, k = 4 Clear my choice Suppose the market demand for a good is Qº = 2000 – 8p and market supply is QS = 5p + 700. There are 10 %3D firms with exactly the same cost function. How much does each firm produce? O a. 100 O b. 120 O c. 140 O d. 200 Clear my choiceDiminishing marginal returns occur because O average and marginal relationships behave very differently with respect to each other. O workers in some industries lack an adequate formal education. O producers are not careful enough in the manufacturing process. O the efficiency of variable resources depends on the quantity of the fixed resources.Consider this production function. Study hours 2. 4 10 11 12 14 15 or more 13 Grade 20 33 42 50 57 63 69 73 78 81 84 86 88 89 90 1007 90 - 80 70 60 S0 40 30 20 10 Hours of study per day Select one or more: a. The average product of labour is falling as hours of study increase. O b. The marginal product of labour is constant as hours of study increase. O c. The marginal product of labour is rising as hours of study increase. U d. The marginal product of labour is zero beyond 15 hours. Final grade 9-
- Which of the following production functions exhibits increasing returns to scale? OA. AY=k1/2 1/2 O B. Y=K°L1-a O.Y=k1/3L 2/3 O D. Y=K1/2L 3/4 O E. Y=K1/3L 1/3You are the operations manager for a production company. You are given the technical rate of substitution between factors ₂ and ₁ as -4. If you will like to produce the same output but you want to decrease the use of ₁ by 2 units since it cost more than ₂ to acquire, how many additional units of 2 will be required? C Select one: O a. 1 O b. 2 O c. 16 O d. 8 Time left 0:39:4 19 28°C SunrIf capital and labour are perfect complements then the marginal products of capital and labour are undefined A True Faise Question 16 A firm uses 10 units of labour and 20 units of capital to produce 10 units of output. The marginal product of labour is 0.5. If there are constant returns to scale the marginal product of labour must be 0.25 True B False Question 17 Afirm uses 10 units of labour and 30 units of capital to produce 10 units of output. The marginal product of labour is 05. If there are constant returns to scale the marginal product of labout must be 0.25 A True False
