What is the firms short-run production function

Assignment Help Econometrics

Reference no: EM13188062

Let a firm's long-run production function be
Q= 1/10LK +3L^2K-1/10L^3K

Assume that in the short-run the firm's labour input is fixed at 10 units.
a) What is the firm's short-run production function?
b) What are the short-run average and marginal product of capital functions?

Reference no: EM13188062

Questions Cloud

Will the industry expand or contract in the long run : assuming product price is $32. With $32 in place of $56, its costs us $52.50 and we sell it for $30. This does not produce in the short run. The loss-minimizing outcome would be a loss of $22.50. The economic loss would be if you take the loss of ..

How many bacteria will there be after 3 hours : A bacteria population starts with 400 and grows at a rate of r(t)=(450.268)e^(1.12567t)bacteria per hour. How many bacteria will there be after 3 hours ?

State the plots of the boiling point : From the plots of the boiling point versus the volume of distillate in the simple distillation experiments, what can you conclude

What must be true about the radicand : When adding or subtracting radical expressions, what must be true about the radicand (the data under the radical symbol) and the index? If the problem does not meet this criteria, what must be done?

What is the firms short-run production function : Let a firm's long-run production function be Q= 1/10LK +3L^2K-1/10L^3K Assume that in the short-run the firm's labour input is fixed at 10 units. a) What is the firm's short-run production function? b) What are the short-run average and marginal prod..

State boiling points of the pure components of mixture : In either of the simple distillation experiments, can you account for the boiling point of your product in terms of the known boiling points of the pure components of your mixture?

What is the agreement between manufacturers and distributors : the manufacturer of perfume enters into agreement with several distributor about the price at which the distributors can resell the perfume. The manufacturers who do not agree to the pricing suggestion are not able to sell the perfume.what is The..

State what is the ph of sodium acetate solution : What is the pH of Sodium Acetate solution before the HCL is added and after the HCL is added?

State procedure that used to separate p-dichlorobenzene : Describe a procedure that might be used to separate p-dichlorobenzene

User Account

All Pages