Find the cost function-average total cost

Assignment Help Business Economics
Reference no: EM131452559

A firm has production function Y=KL+L^2. The firm faces costs of $10 wages and $1 rental rate of capital. Find the cost function, average total cost, average viable cost, and marginal cost functions.

Reference no: EM131452559

Questions Cloud

Write a discussion that reflects understanding of readings : Write a discussion that reflects your understanding of the readings.
Increase in deficit-financed govt : 1. The increase in deficit-financed govt spending causes real GDP to increase to natural real GDP.
Discussion how marie curie vision and work helped mankind : Discussion how her vision and work helped mankind and other scientists today and show any work that is currently been conducted in the area.
Define the clamping issues : The outline of the cam in Figure is to be machined in an end milling operation, using a 12.5-mm diameter end mill with two teeth.
Find the cost function-average total cost : A firm has production function Y=KL+L^2. The firm faces costs of $10 wages and $1 rental rate of capital. Find the cost function, average total cost.
What are the range of positions one could have on the issue : Do you agree with all of the features of the exemplary cases? If not, which ones do you think do not need exist in order for there to be persuasion?
Describe the data that you have collected : You need to submit a report about this project. The report should include the following components: Describe the data that you have collected
Construct a plot of fl versus cl : What sample size would be required to estimate this proportion to within 0.02 of the population proportion with 95% confidence if no prior bounds are used. What is this sample size if the sample proportion from part a is used as the prior bound?
Would you classify viruses as living or nonliving : Would you classify viruses as living or nonliving? List the differences between the lytic and lysogenic reproductive cycle of a phage.

Reviews

Write a Review

Business Economics Questions & Answers

  The consumption function assumes

The consumption function assumes that

  Company is planning plant expansion

A company is planning a plant expansion that is expected to cost $10 million. How much must the company set aside now in a lumps-sum investment to have the money in 2 years? Capital funds earn interest at a rate of 12% per year, compounded continuous..

  Broad trends in the australian dollar evaluate trends in the

Broad trends in the Australian Dollar. Evaluate trends in the Australian dollar / United States dollar (AUD/USD) exchange rate and the trade-weighted index (TWI) over the period from July 2001 through June 2016 (i.e. 15 years). Discuss whether the tr..

  Elucidate the marginal value product per ton of fertilizer

When we apply 50 tons of fertilizer, the total yield is 1500 bushels. Elucidate the marginal value product per ton of fertilizer.

  Illustrate what is price should big steel set to maximize it

Illustrate what is price should Big Steel set to maximize its profits. Explain how much steel will Big Steel sell? How much will its competitors sell.

  Purchase in seven years time if the interest rate

An energy manager expects a need for a boiler that costs $150,000 in about seven years. How much money should the manager save each year to have enough money for the purchase in seven years time if the interest rate is (a) 10% and (b) 3%.

  Analysis consistent with the proposition

Is this analysis consistent with the proposition which money has real effects in the short run but is neutral in the long run.

  Relatively small crude-oilproducing country

Ghana is a producer and exporter of crude oil. Since Ghana is a relatively small crude-oilproducing country, its actions do not affect world prices; as an exporter, Ghana faces a foreign demand curve that is perfectly elastic at a price of $ 15 per b..

  The clean air act

The Chicago Board of Trade voted to create a private market for right to emit sulfer dioxide. The Clean Air Act of 1990 established a limit, beginning in 1995, on total emmissions of sulfer dixoxide from 110 power plants. Given that firms can exceed ..

  Define the natural rate of unemployment

Define the “natural rate of unemployment” and show that its two equations are equivalent. What are its causes and what is its significance for public policy? Define “structural unemployment” and explain its causes. Use a labor market diagram to show ..

  A historical analysis of urban planning in the united states

A clear thesis statement An annotated bibliography for at least 10 scholarly or professional journal articles A summary that expresses the overall plan of the paper, including subtitles and topic sentences for each subtitle provided.

  Completed to support major new initiative

You have just spent several hundred thousand dollars on a research assignment, researching a project that your president wanted completed to support a major new initiative. The research results significantly contradict the intentions of the president..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd