Question 1 assume that the cobb-douglas production function, Ask an Expert

Economics

Question: 1. Assume that the Cobb-Douglas production function for a beer manufacturer is q = 1.52 L^0.6 K ^0.4. Calculate the average fixed cost if we also assume that the firm's capital is fixed at 250 units and the rental rate of capital is $5 per unit.

2. Discuss and explain the situation involving the tangency between the isocost line and the isoquant.

View complete question

Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M92598426

Have any Question?Write your Review or question?

Related Questions in Microeconomics

Question learn about current trends in servant leadership

Question: Learn about current trends in servant leadership by conducting your own research and locating an article that illustrates how the principles of servant leadership are being employed in the workplace, as part of ...

Question participation in the labor force is a personal

Question: Participation in the labor force is a personal decision that can be illustrated using indifference curves and budget constraints. A. Explain and show graphically why a person with non-labor income may choose no ...

Question suppose that the government sets a price floor for

Question: Suppose that the government sets a price floor for milk that is above the competitive equilibrium price and that the government does not purchase any surplus milk. a. Draw a graph showing this situation. Be sur ...

Question explain these questionsa compare the marginal

Question: Explain these questions a. Compare the Marginal Revenue Curve for a firm in the PC-market with the Marginal Revenue Curve for the monopolist. b. Explain in your own words why a company that creates a negative e ...

Question as a manager the following facts are in your

Question: As a manager, the following facts are in your possession at the end of ‘‘this'' year and you are asked to predict the changes in the economy ‘‘next'' year. (A) The Fed has just cut the funds rate by 3/4%, but b ...

Problem suppose firms cost function is cq 4q 2 16a find

Problem: Suppose firms cost function is C(q) = 4q ^2 + 16 a) Find variable cost, fixed cost, average cost, average variable cost,and average fixed cost. (Hint: Marginal cost is given by MC = 8q) b) Show the average cost, ...

Question consider an income tax and a head tax the sizes of

Question: Consider an income tax and a head tax, the sizes of which have been set so that the government collects the same amount of money under each tax. Which tax does the consumer prefer? The response must be typed, s ...

Question the american bakers association reports that

Question: The American Baker's Association reports that annual sales of bakery goods last year rose 15 percent, driven by a 50 percent increase in the demand for bran muffins. Most of the increase was attributed to a rep ...

Question in 1980 automobile manufacturers in the united

Question: In 1980, automobile manufacturers in the United States asserted that import quotas be instituted on foreign-produced vehicles marketed in the United States. In a critical essay, elaborate on the costs and benef ...

Question one constraint in our economy is time as a society

Question: One constraint in our economy is time. As a society, we make choices about allocation of time between work and other pursuits. In the US, most workers are eligible for overtime pay if they work more than 40 hou ...

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 Microeconomics Expert