User Account

All Pages

What kind of production function does the firm have

Assignment Help Business Economics
Reference no: EM132503615

1. Suppose the production function for face masks can be represented as q=f(K, L)=0.5K^0.3 L^0.3.

a) What kind of production function does the firm have?

b) Draw two isoquant curves and label two points on each curve.

c) Does this production function exhibit increasing return to scale, decreasing return to scale or constant return to scale? Prove your answer.

d) If w=$50 and r=$25, calculate the K and L that will produce q=300 in the least costly way.

Reference no: EM132503615

Questions Cloud

What is the irr of the project and is irr acceptable : $1,800, $2,500, and then an estimated salvage value at the end of the 3rd year of $700. What is the IRR of the project and is it acceptable, why?
Pure-strategy nash equilibria of the game : Model the above strategic situation with a normal form game and find all pure-strategy Nash equilibria of the game.
What is the net cash used by investing activities : What is the net cash used by investing activities? What is the net cash provided by operating activities? What is the net cash used by financing activities?
What was the motor lodge average daily rate : Total cash receipts for the evening totaled $9,000.00. What was the motor lodge's average daily rate (ADR) for that particular evening?
What kind of production function does the firm have : 1. Suppose the production function for face masks can be represented as q=f(K, L)=0.5K^0.3 L^0.3.
What is the net present value if the discount rate : How high can the discount rate be before you would reject the project? What is the Net Present Value if the discount rate is 11%?
What will the profits be if sales turn out to be million : What will the profits be if sales turn out to be 4.5 million? What will the profits be if sales turn out to be 1.5 million? You estimate that your cattle farm
Explain the different prices for essentially same product : How do you explain the different prices for essentially the same product, given that the cost to the publisher of providing each type of book is basically

Reviews

Write a Review

Business Economics Questions & Answers

  Find better equality for them in our world trade system

In the unit lesson for this module, it is suggested that all things in trade are not equal. How would you help disadvantaged countries to find better equality for them in our world trade system? Please consider the Hecksher-Ohlin model when answering..

  Aerospace division of general aeronautics

The manager of the aerospace division of General Aeronautics has estimated the price it can charge for providing satellite launching services to commercial firms.

  Details of the first six payments

Using the tabular method, provide the details of the first six payments. Include in your answer the quarterly payment (An), interest payment.

  Provide consumers with protection against inflation

Explain how competitive privately issued currencies would work automatically to provide consumers with protection against inflation?

  Coordination problems of the economy

How does the concept of economic efficiency relate to the coordination problems of the economy?

  Tightness of the labour market

Assess the following statements S1 and S2. Are they both true, both false or is only one true? Justify your answer.

  What are the advantages or disadvantages the firm

What is an example of a firm which, one might argue, is experiencing either (a) economies of scale, or alternatively (b) diseconomies of scale. What are the advantages or disadvantages the firm in question seems to receive when its scale of operation..

  How market for tradeable pollution allowances might work

The graph below can be used to analyze how a market for tradeable pollution allowances might work. Your task is to fill in the table that follows the graph and identify the features indicated by the boxes and call-outs. The incremental cost of reduci..

  Each person has willingness-to-pay function

Suppose a small community of 200 people want to save a rare Toad. Each person has a willingness-to-pay function of P = 2.5 -2.0Q, where P is the per-Toad price that she or he is willing to pay to save Q rare Toads. To save a Toad, they must capture i..

  Action in response to the oil price increase

both the short run and the long run assuming that the government takes no action in response to the oil price increase.

  What is the project npv

Robbins Inc. is considering a project that has the following cash flow and cost of capital (r) data. What is the project's NPV? Note that if a project

  What is the relationship with gdp

Is conspicuous consumption for real or just a rational response to higher income? How does this effect the consumption curve and aggregate expenditures model? What is the relationship with GDP?

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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