Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 07, 2024

please help Question 11 1 pts A firm has the production function q=L2K The wage rate is w=51 and the rental rate is r=29. In

please help
Question 11 1 pts A firm has the production function q=L2K The wage rate is w=51 and the rental rate is r=29. In the long run, what is the optimal quantity of labor to produce q=3,951? Round your answer to the nearest whole number. Question 10 1 pts A firm has the following production function: q=35KL2-8L3 In the short run, the firm has a fixed amount of capital of Ko=67 At what quantity of labor does Diminishing Marginal Returns begin. Round your answer to the nearest 0.01 (provide 2 decimal places)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Cases An Active Learning Approach

Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt

2nd Edition

0130674842, 978-0130674845

Students also viewed these Economics questions

Question

★★★★★

Explain the difference between specification limits and control limits. Is there a desired relationship between the two?

Answered: 1 week ago

Question

★★★★★

What do you need to know about motivation to solve these problems?

Answered: 1 week ago

Question

★★★★★

You have been assigned to the audit of Oshkosh Truck Corporation. The company is the leading manufacturer of fire trucks and heavy duty army trucks. All of the basic components are warranted for...

Answered: 1 week ago

Question

★★★★★

16. Your company plans to produce a product for two more years and then to shut down production. You are considering replacing an old machine used in production with a new machine. The Old machine...

Answered: 1 week ago

Question

★★★★★

derive the function rule that models each situation. 1. Chris invested his 3,000 pesos to a venture that offers a 10% annual interest rate compounded twice a year. derive the function rule that...

Answered: 1 week ago

Question

★★★★★

The Alpine House, Incorporated, is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Sales Selling price per pair of skis Variable...

Answered: 1 week ago

Question

★★★★★

Ocean Fishers Ltd had a 22-foot fishing boat with an inboard motor that was purchased on April 9, 2015, for $74,000. The PPE subledger shows the following information regarding the boat b....

Answered: 1 week ago

Question

★★★★★

A spaceship is orbiting around the Earth. The mass of Earth is 5.98 x 1024 kg, and the mass of the spaceship is 8600 kg. Let R be the distance from the center of Earth. If this distance changes from...

Answered: 1 week ago

Question

★★★★★

5. Two events occur at positions on the x-axis separated by a distance of Ax and by a time interval of At, according to one observer (Ann). Ann notes that when the first event occurs (a flash of...

Answered: 1 week ago

Question

★★★★★

A transverse mechanical wave is traveling along a string lying along the x-axis. The displacement of the string as a function of position and time, y(x, t), is described by the following equation:...

Answered: 1 week ago

Previous Question Next Question