FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Suppose in the short run a firm's production function is given by Q = LAK4 and that K is fixed at K = 16. If

image text in transcribed

image text in transcribed
Suppose in the short run a firm's production function is given by Q = LAK4 and that K is fixed at K = 16. If the price of Labor, w = $20 per unit of Labor, what is the firm's marginal cost of production when the firm is producing 72 units of output? J

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Principles of Economics

Principles of Economics

Authors: Robert Frank, Ben Bernanke

5th edition

73511404, 978-0073511405

More Books

Students also viewed these Economics questions

Question

★★★★★
Classical economists assumed that velocity was stable in the short run. But suppose that, because of a change in the payments mechanism -for example, greater use of credit cards - there was an...

Answered: 1 week ago

Question

★★★★★
use a PICO (patient or population, intervention, comparison, and outcome) format to search for current best evidence or practices to address a problem

Answered: 1 week ago

Question

★★★★★
Explain possible uses for single-case research.

Answered: 1 week ago

Question

★★★★★
The following data were extracted from the accounting records of Wedgeforth Company for the year ended November 30, 2010: Merchandise inventory, December 1, 2009 $ 210,000 Merchandise inventory,...

Answered: 1 week ago

Question

★★★★★
Which cloud characteristic states that iOS, Android, and Windows users should all be able to use cloud resources?

Answered: 1 week ago

Question

★★★★★
Lakeside Bakery makes pies. Each pie requires 1/2 of a direct labor hour. The variable overhead rate is $0.50 per direct labor hour. Lakeside's estimated fixed overhead is $425,000. Lakeside budgets...

Answered: 1 week ago

Question

★★★★★
The following is the -adrenergic receptor and a small G protein (shown in blue) oriented in the membrane. Answer parts (a)-(d) by using the options: Cytoplasm/ nucleus/ rough endoplasmic reticulum...

Answered: 1 week ago

Question

★★★★★
a) Specific ion channels and pumps regulate the resting membrane potential and action potential of aneuron. You treat a neuron in vitro (in a plate) with a reversible ATP synthase inhibitor. Would...

Answered: 1 week ago

Question

★★★★★
C. elegans shows ethanol-responsiveness through body-flattening. Loss-of-function mutants in the slo gene are resistant to ethanol and do not flatten their bodies. Null mutants in the npr gene show...

Answered: 1 week ago

Question

★★★★★
The following is the regulatory network that controls the activity of the mitotic regulatory kinase (Cdk-1) that is critical for the G2M phase transition of a cell during the cell cycle. DNA damage...

Answered: 1 week ago

Question

★★★★★
The following drawing represents a cardiac stem cell (CSC) lineage commitment and differentiation in mice. a) List two characteristics of CSC that qualifies them as stem cells. b) Briefly describe...

Answered: 1 week ago

Question

★★★★★
Dear Legal Professional: Our client, Ellis-Elan Jewelry Design, LLC, is entering into a distribution agreement with a Latin American fashion distributor, Moda Hermosa. Moda Hermosa is planning to...

Answered: 1 week ago

Question

★★★★★
The geographical location of the sender, i.e. where the sender resides

Answered: 1 week ago

Question

★★★★★
Subjective norms, i.e. the norms of the target group

Answered: 1 week ago

Question

★★★★★
The temporal rule: The closer temporal proximity we have to an event or action, the more probable it is that the distortion of information is less than if the event or action happened longer ago.

Answered: 1 week ago

Previous Question Next Question