Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 30, 2024

there is a production function f(L,K)=sqrt(L)*sqrt(K). -short run -K is fixed at 64. 1. With 1 unit of labor, how much is produced? 2 units

there is a production function f(L,K)=sqrt(L)*sqrt(K).

-short run

-K is fixed at 64.

1. With 1 unit of labor, how much is produced? 2 units of labor? 3? 4?

2. What is the marginal product of labor when there is one unit of labor? two unit of labor? three? four?

.3.

To find the Marginal Revenue Product, we need to multiply MPL by what? O Capital O Quantity O Price

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored 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

Business Economics Methods And Techniques

Authors: Chandra Kant Singh

1st Edition

9353147018, 9789353147013

More Books

Students also viewed these Economics questions

Question

★★★★★

For each of the following items, calculate the cash sources or cash uses that should be recognized on the statement of cash flows for Baldin Co. for the year ended December 31. 2016: a. Sales on...

Answered: 1 week ago

Question

★★★★★

1. Under what circumstances will a string of an arbitrary number of inverters with a feedback loop, as in Figure 11.1, produce a stable network?

Answered: 1 week ago

Question

★★★★★

2.40 Given the following data set: 8, 7, 1, 4, 6, 6, 4, 5,7,6,3,0 a. Find the five-number summary and the IQR. b. Calculatex and s. c. Calculate the z-score for the smallest and largest observations....

Answered: 1 week ago

Question

★★★★★

When Brunos basis in his LLC interest is $150,000, he receives cash of $55,000, a proportionate share of inventory, and land in a distribution that liquidates both the LLC and his entire LLC...

Answered: 1 week ago

Question

★★★★★

#include #include using namespace std; class City { public: void ReadSizeAndName(); void Print() const; private: int size; string name; }; void City::ReadSizeAndName() { cin >> size; cin >> name; }...

Answered: 1 week ago

Question

★★★★★

Harmony Co. used $31,920 of direct materials, worked 840 direct labor hours, and utilized 560 machine hours to complete a custom fishing boat for a customer. Harmony's direct labor rate is $22.00 per...

Answered: 1 week ago

Question

★★★★★

LaPaz Companys standard fixed overhead rate is based on budgeted fixed manufacturing overhead of $$9,000$ and budgeted production of 30,000 units. Actual results for the month of October reveal...

Answered: 1 week ago

Question

★★★★★

The following accounting information pertains to Frost and Wells companies at the end of 2011. The only difference between the two companies is that Frost uses FIFO while Wells uses LIFO. Required a....

Answered: 1 week ago

Question

★★★★★

Match each of the following transactions of Ardon Peralta \& Company, a landscape design firm, with the appropriate letters, indicating the debits and credits to be made. The key for the letters...

Answered: 1 week ago

Question

★★★★★

The ACER group, created in Taiwan in 1976, was by 2011 the second-biggest PC and notebook company in the world. With revenue of around $20 billion it employs 8,000 people worldwide. Since its...

Answered: 1 week ago

Question

★★★★★

Identify at least five products or brands that probably could not use that strategy. Develop a clear rationale to support each example. Heineken is the second-largest brewer in the world, with sales...

Answered: 1 week ago

Question

★★★★★

5. What does it mean when we say the evaluation comes before the presenta-tion?.

Answered: 1 week ago

Question

★★★★★

1. Discuss the following statements: a) Predetermined is not the same thing as predictable. b) When we are aware of the consequences of our behaviour, we can change our behaviour. c) What we know is...

Answered: 1 week ago

Question

★★★★★

2. In this chapter, the reader should reflect on the following concepts:

Answered: 1 week ago

Previous Question Next Question