Question
(1)Suppose a production function is q = K 1/2 L 1/3 and in the short run capital ( K ) is fixed at 100.If the
(1)Suppose a production function is q = K1/2L1/3 and in the short run capital (K) is fixed at 100.If the wage is $10 and the rental rate on capital is $20, the short run production function is
(2)Suppose a production function is q = K1/2L1/3 and in the short run capital (K) is fixed at 100.If the wage is $10 and the rental rate on capital is $20, the fixed cost is
(3)Suppose a production function is q = K1/2L1/3 and in the short run capital (K) is fixed at 100.If the wage is $10 and the rental rate on capital is $20, the short run average cost is
(4)Suppose a production function is q = K1/2L1/3 and in the short run capital (K) is fixed at 100.If the wage is $10 and the rental rate on capital is $20, the short run marginal cost is
(5)Suppose MPL = 20 and MPK = 40 and the rental rate on capital is $10.If the level of production is currently efficient, the wage rate must be
(6)Suppose MPL = 40 and MPK = 20 and the rental rate on capital is $10.If the level of production is currently efficient, the wage rate must be
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Managerial economics applications strategy and tactics
Authors: James r. mcguigan, R. Charles Moyer, frederick h. deb harris
12th Edition
9781133008071, 1439079234, 1133008070, 978-1439079232
