Question suppose q 2 middot k13 middot l12a what are the, Ask an Expert

Economics

Question: Suppose q = 2 middot K^1/3 middot L^1/2.

a. What are the returns to scale of this production function?

b. Find the short run cost function.

c. Find the short run supply function.

d. Suppose that in the short run k = 100, r = 1, and w = 4. Where does the short run marginal cost curve intersect with the short run average cost curve?

e. Find the long run cost function. [Use the lagrangian method]

f. Find the long run supply function.

g. How many units will this firm produce if p = 6, w = 1, and r = 5?

View complete question

Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M92586792

Have any Question?Write your Review or question?

Related Questions in Microeconomics

Quesyion intermediate microeconomicssuppose that a firms

Quesyion: Intermediate Microeconomics Suppose that a firm's technology is given by the following production function: f(k, l) = 6k^1/6 l^1/6 Prove that this production function exhibits diminishing marginal product in bo ...

Question what is the time value of money and how can

Question: What is the time value of money and how can compound interest be used to calculate the present value of any future amount of money? How is the word "risk" used in financial economics and what is the difference ...

Question an electricity producer owns two plants fixed in

Question: An electricity producer owns two plants (fixed in size) but can burn different amounts of fuel in each of them to produce electricity. It must produce a certain amount of electricity or the area will be blacked ...

Question you borrowed 100000 with an interest rate of 12 to

Question: You borrowed $100,000 with an interest rate of 12% to be paid back with 10 equal end-ofyear payments. How much is your outstanding debt after 5 payments? The response must be typed, single spaced, must be in ti ...

Question consumer service at sce consists of handling

Question: Consumer service at SCE consists of handling outages, resolving bill disputes, extending service to new customers, and similar activities. Consumer service is a major functional department of the company, but t ...

Question jared bernstein an economist at the center on

Question: Jared Bernstein, an economist at the Center on Budget and Policy Priorities, has stated: "I want to see receipt of unemployment insurance go up in recessions." If government unemployment insurance payments didn ...

Question a countrys economy is described in table 2 using

Question: A country's economy is described in Table 2. Using information in Table 2, answer questions (2.1), (2.2), (2.3) and (2.4) Phillips curve p -p-1=-0.55x( U-Un) Natural rate of unemployment uN = 5% Previous year's ...

Question suppose two bonds apple inc and samsung

Question: Suppose two bonds (Apple Inc. and Samsung Electronics Co., Lid) are traded in the bond market and Ms. Wilson needs your advice on which one to buy. For the Apple bond, there is a probability of 60% (hat this bo ...

Question do two variations on the tycoon problem with 100

Question: Do two variations on the tycoon problem with 100 firms. In the first, all numbers are the same as in the text, except the probability that a company is good is now .4 instead of .6. How many winner firms will b ...

Quesiton where does the inspiration for new technology

Quesiton: Where does the inspiration for new technology (knowledge, not material items) come from? How is it moved from thought to fruition? Your APA paper should be typed, double-spaced on standard-sized paper. You shou ...

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