Question: please answer CAREFULLY READ THE QUESTION. THERE MAY BE MORE THAN ONE QUESTION RELATED TO THE FIRM(S) DESCRIBED BELOW SO IT IS ADVISABLE TO WRITE

please answer

CAREFULLY READ THE QUESTION. THERE MAY BE MORE THAN ONE QUESTION RELATED TO THE FIRM(S) DESCRIBED BELOW SO IT IS ADVISABLE TO WRITE DOWN YOUR ANSWER BEFORE YOU PROCEED to the next question. Consider a price-taking firm whose production function is given by q = 4 L1/5 K1/8 where L and K denote respectively the amount of labour and capital the firm uses to produce q units of output. Suppose the price of labour is w = 14, the price of capital is 26 and the price of the firm's output is p=279 . Find the firm's cost function. Then enter below the value of the firm's average cost at the point where q = 100

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!

CAREFULLY READ THE QUESTION. THERE MAY BE MORE THAN ONE QUESTION RELATED TO THE ONE BELOW SO IT IS ADVISABLE TO WRITE DOWN YOUR ANSWER BEFORE YOU PROCEED to the next question. If Maria were a price...

Please answer each of these. Question 6 You have gathered the following information about your firm: Current Stock Price (Common) ==> $46 Forecasted Dividend (D1) ==> $2.66 Beta ==> 1.2 YTM on Debt...

Attached is a homework for Finance. It is 4 questions and includes a link highlighted in yellow where one can get the financial information. Price is flexible, I just need a great grade on this hwk!...

HI! can you please answer the Long answer question #1, part h), on the attached file! Thank you very much UNIVERSITY OF MANITOBA Faculty of Management Department of Accounting and Finance Professors:...

TVforall CC, a television and related equipment retailer is conducting a capital budgeting exercise for the coming year. The company has decided that it needs to urgently review its plans and...

Assignment 8: Instruction 1 Assignment 8: Final Assignment (100 points) * No assignments will be accepted late without written documentation of an unavoidable or unforeseeable event. Why this...

The Call Center Customer Care (C4) Case Study provided in the folder presents an initial high level (Level 1) architectural breakdown for the system used by a large telecommunications company. This...

help please Lab Assignment #2: Claims and Validities IMPORTANT. Be sure to carefully read each question and address all parts! PART 1: Identifying Claims 1. The following headlines appeared in online...

Consider an investor who is looking into the performance of a particular portfolio. She found that the historical estimates of the mean and variance of the portfolio's monthly return are 0.95% and...

2(a) Briefly explain how the protein test for dairy products was cheated by the adulteration of the products with melamine. 2(b) Briefly explain why occasionally it was found that some fresh seafood...

ABC plans to issue an 1 8 - year, 1 2 % coupon, $ 1 , 0 0 0 face value bond that pays annual coupons. The yield is currently 1 1 % and will change to either 6 % with 5 1 % probability or 1 6 % at the...

What are 6 to 8 major steps to take to implement each of the following marketing strategies? (Gantt Chart) Can be a timeline of start to finish for each of the ideas. - Creating a shoe line (the...

9. How much of the information collected will be used in decision-making?

1. Background knowledge of the subject and

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