What is the cost function cw for the production technology

Assignment Help Econometrics

Reference no: EM13218573

production of widgets (W) uses labor (L) as its only input. The production function is given by W=F(L)=8*L^.5 and the marginal productivity MPL=4/L^.5. If widgets sell for $10, the price of labor is $8/hour, and there is a fixed cost of $25. What is the cost function C(W) for this production technology? choose one of the following: a)C(W)=8W+25 c)C(W)=8*W^2+25 b)C(W)=W^2/8 + 25 d)C(W)=W/8 + 25

Reference no: EM13218573

Questions Cloud

Compute the energy per unit volume per energy wavelength : Consider radiation of wavelength of 4000 Angestroms, at a temprature of 3000 K. using a rayleighs- jeans law, calculate the energy per unit volume per energy wavelength?

What quantity will the firm produce to maximize profits : A firm is operating in a competitive market. The firm has a cost function C(Y)=2Y^2+2 and marginal cost MC=4Y. If the price is $20. a) what will the maximum profit be b) If the inverse demand is given by P=30-Y, what quantity will the firm produce..

Compare and contrast accessing the internet via a modem : Compare and contrast accessing the Internet via a modem, DSL, a cable modem, and satellite. Identify which of these access mechanisms is the most popular today, and identify which will be most widely used five to ten years from now.

Explain what is the final energy and n value of the atom : A ground-state H atom absorbs a photon and makes a transition to n=4 energy level. It then emits a photon of energy 4.085 x 10^-19 Joules. What is the final energy and n value of the atom?

What is the cost function cw for the production technology : production of widgets (W) uses labor (L) as its only input. The production function is given by W=F(L)=8*L^.5 and the marginal productivity MPL=4/L^.5. If widgets sell for $10, the price of labor is $8/hour, and there is a fixed cost of $25.

State light beam through the sample and minimal light passes : If you shine a light beam through this sample, minimal light passes through ( assume no light passes through). What if your sample allows 50% of light to pass through? How many bacteria are in your sample.

How many hours of labor should be hired to maximize profits : Production of widgets (W) uses labor (L) as its only input. The production function is given by W=F(L)=8*L^.5 and the marginal productivity MPL=4/L^.5. If widgets sell for $10, the price of labor is $8/hour, and there is a fixed cost of $25.

Explain complete dissociation of the solute : Assuming complete dissociation of the solute, how many grams of KNO3 must be added to 275 mL of water to produce a solution that freezes at -14.5 C? The freezing point for pure water is 0.0 C and Kf is equal to 1.86 C/m.

What is the pdv of the net earnings under the plan : Suppose that college education raises a person's wage by $30,000 per year, from $40,000 to $70,000. Assume that the interest rate is 3 per cent and there is no growth in wages. Suppose you are a high school senior and deciding whether or not to go..

User Account

All Pages