Suppose the production function is given by Q K 1 2 L 1 2 , and that Q 30 and K 25 How much labor is employed by the firm ...

To find out how much labor is employed by the firm ...

Suppose the production function is given by Q = K 1/2 L 1/2 , and that Q

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

Question:

Suppose the production function is given by Q = K ^1/2L ^1/2, and that Q = 30 and K = 25. How much labor is employed by the firm?

Related Book For answer-question

Microeconomics

ISBN: 978-0073375854

2nd edition

Authors: Douglas Bernheim, Michael Whinston

See More Books

Posted Date: Mar 06, 2024 11:48 PM

See More Questions

Suppose that a firm's production function is given by Q = KL + K, with MPK = L + 1 and MPL = K. At point A, the firm uses K = 3 units of capital and L = 5 units of labor. At point B, along the same...
A firm has a production function for output Y given by Y = F(K, AL, Q) = K(AL) Q , K is capital input, L is labor input, and Q is use of land. Capital can be hired at the rental rate R per unit,...
1. Consider a firm in the short run, when capital is fixed and the only variable input is labor. For simplicity, we will simply ignore capital. In this situation, suppose that the firms production...
Following are the most recent balance sheets for Country Kettles, Inc. Excluding accumulated depreciation, determine whether each item is a source or a use of cash, and the amount. COUNTRY KETTLES,...
Use your results from Exercises 6-2 and 6-4 to calculate the gross margin for Creative Kaos Store under both the FIFO and the moving-weighted-average-cost methods. Explain why the gross margin is...
(a) What is a hybrid composite? (b) List two important advantages of hybrid composites over normal fiber composites.
On February 11, 2009, plaintiff Levista, Inc. (plaintiff) filed against defendant Ranbaxy Pharmaceuticals, Inc. (defendant), pursuant to this Courts diversity jurisdiction under 28 U.S.C. 1332(a),...
The following information was taken from the records of Gibson Inc. for the year 2012: income tax applicable to income from continuing operations $119,000; income tax applicable to loss on...
C Av > == Paragraph I LZ Question > |-- > 17 Styles 17 Seled Editing The Operations Manager of Toshiba's laptop manufacturing plant is about to prepare her annual report to the Board of Directors....
3. A metal disc of radius Ro is spinning with frequency f in horizontal plane about the vertical axis passing through its center. The disc is placed in a uniform and constant magnetic field pointing...
A background in business ethics is as important as knowledge of specific laws.(True/False)
What does due process require?
How can something be the basis of a bargain?
Congress can regulate any activity that substantially affects commerce. (True/False)
Rescission is the unmaking of a contract so as to return the parties to the positions they occupied before the contract was made. (True/False)
You are an assurance services senior at Reeves & Associates and have noted the following independent issues in relation to the audit of Fancy Pty Ltd: . The accounting system at Fancy Pty Ltd did not...
Determine whether the lines are parallel, perpendicular, or neither. 2x + 3y = -12, 2y - 3x = 8
In a general equilibrium analysis with two substitute goods, X and Y, explain what would happen to the price in market X if the supply of good Y increased (i.e., if the supply curve for good Y...
Suppose that you are a monopolist who produces gizmos, Z, with the total cost function C(Z) = F + 50Z, where F represents the firm's fixed cost. Your marginal cost is MC = 50. Suppose also that there...
The market demand for sorghum is given by Qd = 500 10Pd, while the market supply curve is given by Qs = 40Ps. The demand and supply curve are shown below. The government would like to increase the...
If you make multiple measurements of your height, you are likely to find that the results vary by nearly half an inch in either direction due to measurement error and actual variations in he ight....
Loveland, Colorado, is 18 km due south of Fort Collins and 3 1 km due west of Greeley. What is the distance between Fort Collins and Greeley?
Migrating geese tend to travel at approximately constant speed, flying in segments that are straight lines. A goose flies 32 km south, then turns to fly 20 km west. Afterward, how far is the goose...

Suppose the production function is given by Q = K 1/2 L 1/2 , and that Q

Question:

Expert Answer:

To find out how much labor is employed by the firm ... View the full answer

Microeconomics

Students also viewed these economics questions