Suppose that the production function is (q=L^{0.75} K^{0.25}). a. What is the average product of labor, holding
Question:
Suppose that the production function is \(q=L^{0.75} K^{0.25}\).
a. What is the average product of labor, holding capital fixed at \(\bar{K}\) ?
b. What is the marginal product of labor? Calculate how much \(q\) changes as \(L\) increases by 1 unit for a particular pair of \(K\) and \(L\) or use calculus.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
a The average product of labor hol...View the full answer
Answered By
Aysha Ali
my name is ayesha ali. i have done my matriculation in science topics with a+ . then i got admission in the field of computer science and technology in punjab college, lahore. i have passed my final examination of college with a+ also. after that, i got admission in the biggest university of pakistan which is university of the punjab. i am studying business and information technology in my university. i always stand first in my class. i am very brilliant client. my experts always appreciate my work. my projects are very popular in my university because i always complete my work with extreme devotion. i have a great knowledge about all major science topics. science topics always remain my favorite topics. i am also a home expert. i teach many clients at my home ranging from pre-school level to university level. my clients always show excellent result. i am expert in writing essays, reports, speeches, researches and all type of projects. i also have a vast knowledge about business, marketing, cost accounting and finance. i am also expert in making presentations on powerpoint and microsoft word. if you need any sort of help in any topic, please dont hesitate to consult with me. i will provide you the best work at a very reasonable price. i am quality oriented and i have 5 year experience in the following field.
matriculation in science topics; inter in computer science; bachelors in business and information technology
_embed src=http://www.clocklink.com/clocks/0018-orange.swf?timezone=usa_albany& width=200 height=200 wmode=transparent type=application/x-shockwave-flash_
4.40+
11+ Reviews
14+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Explain your work carefully to get better marks. 1. Kenya has a die and a coin. She tosses the coin and then rolls the die. Make a tree diagram to show the possible outcomes, How many different...
-
Suppose that the production function for DVDs is given by Q = KL2 L3, where Q is the number of disks produced per year, K is machine-hours of capital, and L is man-hours of labor. a) Suppose K =...
-
What is the frequency of light that has a wavelength of 1 8 5 nm ? (c= 3 . 0 0 1 0 8 m/s)
-
Use lHospitals rule where applicable to find each limit. lim In(ex + 1) 5x
-
Return to Better Mousetraps in Problem 18. Suppose the firm can cut its requirements for working capital in half by using better inventory control systems. By how much will this increase project NPV?...
-
Specify the magnitude of F 3 and its coordinate direction angles ? 3 , ? 3 , ? 3 so that the resultant force F R = {9j} kN. F= 10 kN 13 12 30 F 12 kN
-
Define a sequence of correlated random numbers \[ s_{k}=\alpha s_{k-1}+(1-\alpha) r_{k} \] where \(r_{k}\) is a unit-variance, uncorrelated, Gaussian pseudorandom number while \(0
-
You are the manager of a paper mill and have been subpoenaed to appear before a joint session of the Senate Consumer Affairs and the Senate Environmental subcommittees. The Consumer Affairs...
-
Suppose A utility function U(x) = {ax{ +(1-)x2}" with a > 0 and p>0 is defined over the set S = {(x) | xp+x2P2 M} where P, P2 are prices. Prove that if P1, P2 and M are positive, there exists at...
-
What is the law of diminishing marginal returns? Will a firm experience diminishing marginal returns in the short run if its production function is: a. \(q=K+L\) ? b. \(q=K L\) ? c. \(q=K L^{0.5}\) ?
-
If the marginal product of labor is 2 units of output per day per worker for the first five workers and 0 units of output for the sixth worker onward, draw the total product curve, the average...
-
Find the cofactor of each element in the second row of each matrix. -1 2 0 -3 1
-
For this task you must research each of the following topics, and provide a report that identifies your understanding of each topic. What is the Universal Declaration of Human Rights and how does it...
-
An electric motor draws a current of I= 10 amp with a voltage of 110 V, as shown in the figure below, where hA = 3.5 W/K. The output shaft develops a torque of = 9.727 N-m and a rotational speed of...
-
A company has issued some 7% bonds which are redeemable at par in 5 years' time and its required rate of return is 8%. What would be the current market value of SSP 1,000?
-
Since you were not present during the exchange between Paul and Gillian, you are not aware of what happened. You are reluctant to give Gillian any advice. 1. Mention an "I feel" message that you...
-
Twenty-nine year old Janet and her husband Jack were driving home from her ob-gyn appointment when tragedy struck. Another driver, elderly and distracted by an incoming text message, ran a red light...
-
The two prisms in Fig. 8-35 (P8.19) are made of glass with n = 1:5. What fraction of the power density carried by the ray incident upon the top prism emerges from bottom prism? Neglect multiple...
-
Don Griffin worked as an accountant at a local accounting firm for five years after graduating from university. Recently, he opened his own accounting practice, which he operates as a corporation....
-
An insurance agent (interviewed in Jonathan Clements, Dare to Live Dangerously: Passing on Some Insurance Can Pay Off, Wall Street Journal, July 23, 2005, D1) states, On paper, it never makes sense...
-
After Hurricane Katrina in 2005, the government offered subsidies to people whose houses were destroyed. How does the expectation that subsidies will be offered again for future major disasters...
-
Andy and Kim live together. Andy may invest $ 10,000 (possibly by taking on an extra job to earn the additional money) in Kims MBA education this year. This investment will raise the current value of...
-
Marie is thinking of two numbers. When she adds, she gets 40. When she multiplies them, she gets 351. She Helps her younger sister, Enya, calculate the numbers.
-
"Describe business owners / executives obligation to do more for the environment than the law requires. Summarize the value of knowing about environmental law (at least some aspects of it), even if...
-
With reference to specific examples, discuss the extent to which Canadian environmental law (both public and private law) provides for opportunities for the public participation. Include in your...
Study smarter with the SolutionInn App