Question: please find the solution of this attached math. 1.a) Find the homogeneity and returns to scale for following production function: Q=x3-2xy+ y3 and Q=0.8Ko.6Lo.6 .

please find the solution of this attached math.

1.a) Find the homogeneity and returns to scale for following production function: Q=x3-2xy+ y3 and Q=0.8Ko.6Lo.6 . b) Find the income elasticity and find all the different cross price elasticity for the following function and comment. Q1=500-P1-0.55P2+0.45P3+0.0085Y. Where P1 =20, P2= 30 and P3 =60 and Y=20000 a=500. c) Suppose marginal revenue R'(Q) =28q-eo.3q find the total revenue TR. d) The probability in minutes of being waited on in a doctor's chamber is given by the fre- quency function f(t)=120to.5What is the probability of being waited on between 1 and 2 minutes. End of document

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!

Find Req and io in the circuit of Fig. 2.102. Figure 2.102 For Prob. 2.38 60 VM 12 60 80 15 20 40 V

Give correct answers please... Problems 1. A monopoly faces a market demand curve given by P = 42 - Q. Its marginal cost curve is given byMC = Q. a. What is the equation for the marginal revenue?...

Please solve on paper so I can follow the step and learn it 5. Given the demand function Q=10-3P + 2P, +0.2Y , where O is the quantity demanded, P is the price of the good, PA is the price of an...

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...

This question is about firms and cost functions, 1. [Duality in production theory] Consider a firm with production function q = VE, using one input (e.g., labor) to produce units of output q. The...

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....

ANSWER THE FOLLOWING QUESTIONS 1. On Farmer Jones' farm, only honey is produced. There are two ways to make honey: with and without bees. A bucket of artificial honey, absolutely indistinguishable...

Please help me answer the following questions.,,, 3 The pension scheme of a certain company provides an annual pension on retirement (for 'age' or 'ill- health' reasons) of amount equal to one per...

There are 10 potential entrants into the market for tomatoes. All tomato growers are identical. They face a fixed cost of 500 if they choose to enter the market and then have a marginal cost of 10...

tax Consider the market for apple juice. In this market, the supply curve is given by QS = 10PJ 5PA and the demand curve is given by QD = 100 15PJ + 10PT , where J denotes apple juice, A denotes...

Hey i need help with a final semester project that i am doing where i was trying to do it by my self but could not do and this final assignmentis due by the first week of december. When doing the...

The following information pertains to Jazon, Inc., for last year: Beginning inventory, units ............ Units produced ................60,000 Units sold ...................57,400 Variable costs per...

"Hizli Uretim AS" has 2 manufacturing facilities; one is in anakkale and the other one is in Gaziantep. Each has 50000 pallets monthly production capacity. Because of the increasing demand and...

If a fund sponsor allows an investor to move funds from one fund to another within its fund family, this is called A ) a 1 2 b - 1 waiver. B ) a reinvestment right. C ) an exchange privilege. D ) a...

Social Systems, Higher Education, and Corporate Learning" Please respond to the following: From the second e-activity, discuss at least two ways constructivism, as a learning theory, supports and is...

An organization owes 300,000 tax at 1.7.X4 and 450,000 at 30.6.X5. Its income statement for the year to 30.6.X5 includes a tax charge of 400,000. How much tax was actually paid in the year to 30.6.X5?

An organization buys a tangible non-current asset for 200,000. It has an estimated scrap value of 20,000 and an expected useful economic life of 10 years. What depreciation will be shown in the...

With the next information: Build the company's P&L (Profit and losses). Use only those accounts that you consider relevant to fully comply with your work. Account Financial expense Financial...

Perform a full analysis on how this new technology will disrupt the construction industry domestically. What areas specifically will be impacted? how much? in 5 years , 10 years ? who will be the new...

Question A (20 points) True or False. For each of the following statements determine whether each is true or false. Justify your answer. You will not get credit if you do not justify your answer! 1....

5. It is the needs of the individual that are important.

6. It is what the person has previously done for the group that is the deciding factor.

3. It is the commitment you show that is the deciding factor.