Question: For the following Cobb-Douglas production function Q = 181.30.27 / 0.26 1. what is the quantity when K=9.2 , L=1.6? 2. what is the marginal

For the following Cobb-Douglas production function Q = 181.30.27 / 0.26 1. what is the quantity when K=9.2 , L=1.6? 2. what is the marginal product of capital at K=9.2, L=1.6? 3. what is the marginal product of labor at K=9.2, L=1.6? 4. output price P=10 and wages w=50, what is the profit maximizing labor, L, when capital is fixed at K=9.2? 5. output price P=10, wages w=50, what is the profit maximizing quantity Q when capital is fixed K=9.2? 6. output price P=10, wages w=50, rental rates r=30, what is the maximum profit when capital is fixed K=9.2

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

Build a Model: Ratio Analysis Start with the partial model in the file Ch07 P15 Build a Model.xlsx from the textbooks Web site. Joshua & White (J&W) Technologys financial statements are also shown...

Problem 1 (From Baye and Prince, Chapter 5) A firm can manufacture a product according to the following (Cobb-Douglas) production function. Q = F(K,L) = K0.4L0.6 a. Calculate the average product of...

Explainthese attachments. Question 1 (total 15 points). A firm has a production function:f (K, Z) = 50LK05 + L2 K2 - 13 K3 a. What is its short-run production function if capital is fixed at K=4? b....

Problem 1. (30 marks) Suppose that in a city there are 100 identical self-service gasoline stations selling the same type of gasoline. The total daily market demand function for gasoline in the...

Answer the questions. in the following attachments. Question 1. (10 marks) Consider the function z = f(x, y) = x/y. Showing all steps, use the Newton Quotient approach to find ?z/?y. Question 2. (5...

. Explain the following attachments 1. What does a positive linear relationship between x and y in a simple regression imply? (a) Increases in the independent variable are usually accompanied by...

Question 1 Suppose firm X utilizes only two inputs, namely labor (L) and capital (K). Firm X hires both inputs in competitive markets, with wages w = 5 for each unit of labor and r = 2 for each unit...

Answer with clear explanation. Question 1 (total 15 points). A firm has a production function:f (K, Z) = 50LK05 + L2 K2 - 13 K3 a. What is its short-run production function if capital is fixed at...

Use the following Cobb - Douglas production function, Q = 4 3 7 K 0 . 3 3 L 0 . 2 9 a ) What is the marginal product of capital? This will be a function of Capital and Labor. M P K ( K , L ) = What...

make sure to tackle al (i) According to the Ramsey model, what is the impact of a "fiscal stimulus" on investment, consumption and output if the stimulus is financed with lump-sum taxes? What if it...

Q2 Read the Jupiter Electronics case study in Chapter 19 and provide responses to the following questions: There are three basic features that should be incorporated into a theoretical framework: a....

You throw a rock downward into water with a speed of 3mglk, where k is the coefficient in Eq. (5.7). Assume that the relationship between fluid resistance and speed is as given in Eq. (5.7), and...

The following accounts appear in an adjusted trial balance of Pilot Consulting. Indicate whether each account would be reported in the (a) Current asset: (b) Property, plant, and equipment; (c)...

Which of the following formulas has been adopted by NAIC to determine how much the capital requirements are for a particular managed care plan? Risk - based capital ( RBC ) Meslith insurance eapital...

The Clean Air Act prohibited the production of chlorofluorocarbons (CFCs) in the United States as of 1996. One widely used CFC, refrigerant R-12, has been replaced by R-134a in many applications...

Find the force law for a central-force field that allows a particle to move in a spiral orbit given by r = k2, where k is a constant.

McCann Company has two divisions, Division C and Division D. Division C manufactures Part C82 and sells it to Division D, and also sells the same part to the outside market for $50 per unit. Division...

Figure shows a battery connected across a uniform resistor R 0 A sliding contact can move across the resistor from x = 0 at the left to x = 10 cm at the right. Moving the contact changes how much...

A review of the ledger of D. J. Moore Company at December 31, 2012, produces the following data pertaining to the preparation of annual adjusting entries.1. Salaries and Wages Payable $0. There are...

Atira women's resource society read the instruction and make assignment accoridng to the canvas Cost Structure Revenue 2.2. You may use a business model canvas to provide a visual display. However,...

4. What specific changes in the environment have taken place in relation to the information we have collected?

2. The purpose of the acquisition of the information.

1. What is the meaning of the information we are collecting?