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if you could answer all 4 questions it be great. I put it all together because question 5 is related to all the other questions.
if you could answer all 4 questions it be great. I put it all together because question 5 is related to all the other questions. thank you
Question I115 The table below is :5: modified version of Table 5.1 in the textbook. Hint: You can adopt the spreadsheet you creotedfor the test quiz to answer the next questions. Eeoital Labor Dutout it L cl 5 D D 5 1 5 a 2 13.5 E 3 23.5 5 4 31 5 5 3T 5 5 42 3 1' 45 E E 49 E 9 51.4 5 1D 53.4 Let r = $20 he the price of one unit of capital, and w = 55D he the price of one unit of labor. Assume the table represents the production technology of a firm. Consider the production decisions of this firm in the short run. Which of the following alternatives is correct? {a} When the price is p = 56, the firm produces 23.5 units {bl When the price is p = $3, the firm produces 31 units it.) When the price is p = 58, the firm produces 13.5 units {d} When the price is p = $10, the firm produces units. Question DE Consider the same information in question [15 and, again, the production decisions of this firm in the short run. Which of the following alternatives is correct? {a} When the price is p = $6, the firm makes zero profits {n53 = } [b] When the price is p = $3, the firm loses SIED {negative profit is PIER = 16l]] {c} When the price is p = $8, the firm loses $152 {negative profit is n53 = 152] [d] When the price is p : $10, the firm earns 5m {positive profit is It\" : TU} QUESHDI'I III? Consider the same information in question D5. Assume the market is formed by lCICI identical firms and consider the short-run market supply. Which of the following alternatives is correct? [a} When the price is p : 56, the shortrun market supply is Q33 : 2,3513 units [b] When the price is p : ll], the shortrun market supply is Q39 : LUCIE! units {c}: When the price is p : 51:], the short-run market supply is Q39 : ELDCICI units [d] When the price is p = 515, the short-run market supply is E21\" 2 4,6139 units Question 03 Consider the same information in question US, but now assume we are in the long run. Consider the production decisions of an indiyidual firm. Which ofthe following alternatiyes is correct? la} When the price is p = 58, the firm's long run output is 31 units [b] When the price is p : Eli], the firm's long run output is 3? units {c} When the price is p : 512, the firm's long run output is [II units [d] When the price is p : 515, the firm's long run output is D unitsStep by Step Solution
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