QUESTION 1 Suppose that a rm's shortrun production function is F ( K , L) = \\/ 1 + KL, where capital is xed at K = 16. Then the value of Qmin is QUESTION 2 Suppose that a rm's short-run production function is F (K, L) = VK L, where capital is xed at K = 4. The rental rate of capital is $5 and the wage rate is $2. The variable cost of production of 10 units of output is 0 $20 0 $25 0 $50 0 $100 QUESTION 3 Suppose that a firm's short-run production function is F(K, L) = L + VKL, where capital is fixed at K = 4. The rental rate of capital is $24 and the wage rate is $2. The variable cost of production of 48 units of output is (Hint: The amount of labor required to produce 48 units of output is an integer.) $24 $48 O $72 $96 QUESTION 4 Suppose that a firm's short-run production function is F(K, L) = VKL, where capital is fixed at K = 6. The rental rate of capital is $ and the wage rate is $12. The firm's cost function, C(Q) is O 2 + Q 2 O 2 (1 + Q2 ) 0 2 + 3Q2 O 2(1 + 2Q2)QUESTION 5 Suppose that a firm's short-run production function is F(K, L) = (K + L + 12 + 13) 4, where capital is fixed at K = 16. Then the value of min is Oo O 1 O 2 0 3 QUESTION 6 Suppose that a firm's cost function is C(Q) = 1 + Q2. The firm's average total cost function, ATC(Q), is O Q 0 1 +Q O 1+ 2Q O (1/Q) + QQUESTION 7 Suppose that a firm's cost function is C(Q) = 1 + (Q2 - 1), and that @min = 0. The firm's fixed costs equal O $0 O $1 O $2 O $3 QUESTION 8 Suppose that a firm's cost function is C(Q) = 1 + Q2, and that Qmin = 0. The firm's average variable cost function, AVC(Q), is O Q O Q2 0 1+Q 0 1+ Q2QUESTION 9 Suppose that a firm's fixed costs equal 10, and AVC(Q) = 2Q. The firm's total cost of production of 10 units of output is $30 O $90 O $150 $210 QUESTION 10 Suppose that a firm's cost function is C(Q) = 1+ Q2, and that its marginal cost curve is MC(Q) = 2Q. The firm's marginal cost curve intersects its average total cost curve when output equals O 0 1 O 2 O A