A firm has a production function represented by ql75k25, Ask an Expert

Economics

A firm has a production function represented by: q=L^(.75)K^(.25) Find a function for how much capital and labor a firm should hire to produce a given level of production in terms of the price of labor, w, and the price capital, r. Suppose w=15 and r=5. What amounts of labor and capital should the firm choose in order to produce 100 units of this good in the least expensive manner?

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M91423208

Have any Question?Write your Review or question?

Related Questions in Business Economics

What is the theory of consumer choice and how it consumers

What is the theory of consumer choice and how it consumers facing trade-offs make decisions and how they respond to changes in their environment?

If the coefficient of determination is 0738 what percentage

If the coefficient of determination is 0.738, what percentage of the data about the regression line is unexplained?

1 explain the reason for measuring government production at

1. Explain the reason for measuring government production at cost? 2. What is the main shortcoming in valuing government production in this way?

Would it ever be rational for a firm to retain an employee

Would it ever be rational for a firm to retain an employee whose current marginal revenue product is less than her current wage? Explain.

In an inquiry into the nature and causes of the wealth of

In an inquiry into the nature and causes of the wealth of nations, Adam Smith listed three reasons for productivity to increase with specialization. What are these three reasons?

Imagine an election with just two candidates candidate a

Imagine an election with just two candidates. Candidate A asks her consultant to conduct a poll to see if she (Candidate A) is leading. What is the "null hypothesis" value that is being "tested" in this example? Your an ...

A real world example of a unfavorable result in an

A real world example of a unfavorable result in an experiment and what could have been done to avoid the outcome of the experiment?

How are prospective payments using drgs intended to change

How are prospective payments using DRGs intended to change the incentive structure for hospitals

You have to negotiate a contract with a businessperson from

You have to negotiate a contract with a businessperson from France. How will you approach them? How does the French communication pattern and listening habit differ from your own culture?

You sell bicycle theft insurance if bicycle owners do not

You sell bicycle theft insurance. If bicycle owners do not know whether they are high- or low-risk consumers, is there an adverse selection problem?

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Economics Expert