Given the production functions, (i) Q 20L L, (ii) Q 225L L (a) Find an expression for MPL Show that MP decreases indefinitely as labour input, L, increases (i e , the law of diminishing returns applies) (b) Find an expression for APL (c) Plot MPL and APL State the relationship between them Given t...

MPL dQ d L APL Q L Explanation a iMPLd20LL2dL MPL 20 2L Now dMP ...

Given the production functions, (i) Q = 20L-L, (ii) Q = 225L - L: (a) Find...

Fantastic news! We've Found the answer you've been seeking!

Question:

Related Book For answer-question

Numerical Analysis

ISBN: 978-0538733519

9th edition

Authors: Richard L. Burden, J. Douglas Faires

See More Books

Posted Date: Oct 04, 2022 11:19 AM

See More Questions

The notion of diminishing returns applies to all inputs to the production process. For example, one of the inputs in the production of corn is nitrogen fertilizer. Suppose a farmer has a fixed amount...
An equilateral triangle is shown below. (a) Find an expression for its height h in terms of a. (b) Find an expression for its area A in terms of a. 1
Find an expression for E(Yk) if MY(t) = (1 t/)r, where is any positive real number and r is a positive integer.
Austin Limited is trying to determine the value of its ending inventory as of February 28, 2019, the companys year-end. The following transactions occurred, and the accountant asked your help in...
George and June are active volunteers in their local church. George serves as an usher one Sunday morning a month. June sings in the church choir every Sunday morning and attends choir practice each...
Use the saving and investment equation to explain why the United States experienced large current account deficits in the late 1990s.
How is the California court system structured?
Thomas is an employer with one employee, Sarah. Sarahs wages are $19,450, and the state unemployment tax rate is 5.4 percent. Calculate the following amounts for Thomas: a. FUTA tax before the state...
You are requested to identify the sources of information and report the data corresponding to the Net Fund Supply of the US in 2020 for the following categories: - Households - Corporate Equity (both...
A pension fund manager is considering three mutual funds. The first is a stock fund, the second is a long-term government and corporate bond fund, and the third is a T-bill money market fund that...
What is the importance of a Job Analysis and who is responsible for this process. Discuss.
Explain how the debtors collection period is calculated.
What are the effects of powerless verbal and nonverbal communication patterns?
This news item shows how strategic management is helped by surveys that evaluate relative competition. Research and Markets (http://www.researchandmarkets.com/reports/c11963) has announced the...
The following statement was made in the finance directors report of a company making retail sales: The increase in cash has resulted from improved trading, the benefits of a working capital reduction...
Explain what is meant by economic value added.
Suppose that the quote for Euro is 1.1120-44/EUR. If you want to buy 259, which of the following is closest to that amount of Euros that you will need to pay? O a EUR 232.41 O b. EUR 288.32 OC. EUR...
Why is it necessary to study the diffusion of molecules in biological systems?
Tri diagonal matrices are usually labeled by using the notation To emphasize that it is not necessary to consider all the matrix entries. Rewrite the Crout Factorization Algorithm using this...
Use the modified algorithm developed in Exercise 9 to solve the linear systems in Exercise 8. In Exercise 7 a. 2x1 x2 = 3, x1 + 2x2 x3 = 3, x2 + 2x3 = 1. b. 4x1 + x2 + x3 + x4 = 0.65, x1 + 3x2 x3...
Show that if { (, (1, . . . , (n} is an orthogonal set of functions on [a, b] with respect to the weight function w, then {(0, (1, . . . , (n} is a linearly independent set.
The following table presents the temperature, in degrees Fahrenheit, and barometric pressure, in inches of mercury, on August 15 at 12 noon in Macon, Georgia, over a nine-year period. a. Compute the...
Following is a residual plot produced by MINITAB. Was it appropriate to compute the least-squares regression line? Explain. 50 50 Residuals Versus x 40 40 30 20 20 Residual 10 10 0 -10 -20 20 + -3 -2...
Following is a residual plot produced by MINITAB. Was it appropriate to compute the least-squares regression line? Explain. Residual -2 -3 1 2 3 5.0 5.5 09 6.0 Residuals Versus x 6.5 X 7.0 7.5 8.0

Given the production functions, (i) Q = 20L-L, (ii) Q = 225L - L: (a) Find...

Question:

Expert Answer:

MPL dQ d L APL Q L Explanation a iMPLd20LL2dL MPL 20 2L Now dMP... View the full answer

Numerical Analysis

Students also viewed these mathematics questions