Illustrate what will take place to the capital- labor ratio

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Reference no: EM1323126

Q. 1) Answer the subsequent question. Assume which the manager has 3000 units of capital in the short-run. Assume which price of L is 100 per unit also of K is 500 per unit.

a) For input combination "A", MPK/r is than MPL/w. Explain.

b) Why is the short-run expansion path horizontal at K = 3000?

c) If desired short-run o/p is 20,000, illustrate what are K also L?

d) If desired long run o/p is 20,000, illustrate what are K also L?

e) Illustrate what is the short-run standard cost of producing 20,000 units?

f) Illustrate what is the long run standard cost of producing 20,000 units?

2) Assume TC = 1000 + 10Q + Q2, find the formula for TFC, TVC, ATC, AFC, AVC also MC. Draw the graph for every.

3) A new OSHA rules needs which welders be given 2 hour break for every 2 hours of work to prevent carpel tunnel syndrome. Using production theory, explain illustrate what will take place to the capital- labor ratio in both the short-run also the long run.

Reference no: EM1323126

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