User Account

All Pages

Provide an intuitive explanation for result

Assignment Help Microeconomics
Reference no: EM13666911

Let Q= Lα Kβ. suppose the firm seeks to produce a given output while minimizing its total input cost. TC=Pι L + P κK. Show that the optimal quantities of labor and capital satisfy L/K=(α/β) (Pκ/Pι). Provide an intuitive explanation for this result.

Reference no: EM13666911

Questions Cloud

Under the assumptions of perfect competition : Under the assumptions of perfect competition:
Smallest possible temperature of the hot resevoir : An engine does 17600 J of work and rejects 5740 J of heat into a cold resevoir whose temperature is 290 K. What would be the smallest possible temperature of the hot resevoir?
What is the velocity of the torpedo relative to the earth : A spaceship moves at a speed of 0.95 c away from the Earth. It shoots a star wars torpedo toward the Earth at a speed of 0.90 c relative to the ship. What is the velocity of the torpedo relative to the Earth?
What is the skiers launch speed : The 1994 Winter Olympics included the aerials competition in skiing. In this event skiers speed down a ramp that slopes sharply upward at the end. The sharp upward slope launches them into the air, where they perform gymnastic manoeuvres.
Provide an intuitive explanation for result : Let Q= Lα Kβ. suppose the firm seeks to produce a given output while minimizing its total input cost. TC=Pι L + P κK. Show that the optimal quantities of labor and capital satisfy L/K=(α/β) (Pκ/Pι). Provide an intuitive explanation for this res..
Small car is pushing larger truck that has dead battery : A small car is pushing a larger truck that has a dead battery. The mass of the truck is twice as large as the mass of the car. At one instant of time the truck and car both have an acceleration of 3.5 m/s2.
A brief overview of game theory : A brief overview of game theory.
Explain their motion quantitative after their impact : Two Particles A and B are moving towards each other. Particle A has mass of 50.0kg moving from the left side at 9m/s. Particle B has mass of 70.0 kg moving at 7m/s from the right. Inelastic collision takes place. Explain their motion quantitative aft..
Explain how a franchise could be considered a partnership : Explain how a franchise could be considered a partnership? what make a franchise agreement simpler than a partnership that you would start with another individual?

Reviews

Write a Review

Microeconomics Questions & Answers

  Explain ideologies of two different political systems

describe the ideologies of two different political systems. select two different countries of your choice for a

  Increase in government spending

Increase in government spending

  Marginal benefit and supply curve solutions

Suppose you manage an agency that provides Meals on Wheels to infirm elderly residents in the county. The agency operates three kitchens. Each kitchen is producing one-third of the total meals every day.

  Would higher or lower rates increase the incomes of agents

Insurance agents receive a commission on the policies they sell. Many states regulate the rates that can be charged for insurance. Would higher or lower rates increase the incomes of agents Explain, distinguishing between the short run and the lon..

  What interpretation would you provide to exponent for r why

an estimate of the demand function for household furniture produced the following results f0.0036y 1.08 exponentr0.16

  1 of us firms with less than 500 employeesnbsp less than

1. of u.s. firms with less than 500 employeesnbsp less than 25 export less than 40 export less than 5 export over 50

  Consider the table below for the neighboring nations of

consider the table below for the neighboring nations of northland and west coast. the table lists the maximum feasible

  The kingdom of the north and the iron islands produce 2 good

The Kingdom of the North and the Iron Islands produce 2 goods

  Buffalo would have more feed and would not have to compete

some years ago conservation groups paid cattlemen in the western united states to move their herds away from wild

  Health expenditures in the u.s. have increased from

Health expenditures in the U.S. have increased from 5% of GDP to 17% of GDP over the past 50 years. List and explain the 3 reasons for this increase.

  What should bob do in the short run

Suppose instead that the price of DVDs is $20. Now what is the profit-maximizing quantity of DVDs that Bob should produce? What will his total profit be now? Will he produce or shut down in the short run? Will he stay in the industry or exit in the l..

  Global organizations

Global Organizations

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd