Find the firms marginal rate of technical substitution

Find the firms marginal rate of technical substitution

Assignment Help Microeconomics

Reference no: EM13690294

Suppose a firm's production function is: q=(K 1/2+L 1/2) 2 and that wage rate is w= $8 and the rental rate is r=$4.

a) Find the firm's marginal rate of technical substitution.

b) Use the production function to define the isoquant for 9 units of output.

Reference no: EM13690294

Questions Cloud

Closest approximation of total factor productivity : Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 ..

Absolute value of the price elasticity of demand for firms : Suppose that the absolute value of the price elasticity of demand for firms A, B, C, and D is 0,0.8,1, and 1.5 respectively. An increase in the price would reduce quantity demanded for

Find the firms marginal rate of technical substitution : Suppose a firm's production function is: q=(K 1/2+L 1/2) 2 and that wage rate is w= $8 and the rental rate is r=$4. Find the firm's marginal rate of technical substitution.

Suppose the graph on the next page depicts the demand : Suppose the graph on the next page depicts the demand for football tic k ets at Grand University.

Data reveal how much each consumer is willing to pay : The following data reveal how much each consumer is willing to pay for an Alaskan cruise: Amy $900 Ed $2,000 Bob $1,100 Gigi $1,300 Carol $1,500 Hugo $1,800 Eduardo $400 Isabelle $1,500

Happen to the equilibrium price and quantity of crude oil : Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 ..

Reviews

Write a Review

Required(*) Message

Microeconomics Questions & Answers

1explain why the short-run aggregate supply curve is not

1.explain why the short-run aggregate supply curve is not vertical but the long-run aggregate supply curve is

Review on performing a learning needs assessment

Conduct a literature review to how to perofrm a learning needs assessment. Submit a minimum of 15 item annotated bibliography of literature review on performing a learning needs assessment

Using the chart below complete 1 and 2

using the chart below complete 1 and 2 below.pricenbspquantityper

Question 1 evaluate the mu of x nbspin the following

question 1 evaluate the mu of x nbspin the following utility functions at x10nbspquestion 2.suppose you obtain utility

Compute the current yield and the coupon rate

Consider a $1,000.00 face value bond with a $40 annual coupon and 8 years until maturity. Compute the current yield and the coupon rate for each of the following: The bond is purchased for $850

Describe the circular flow model

Which of the following does not describe the circular flow model between the householdand the firm? John works at a coffee shop and makes $10 per hour. He decides to leave work an hour early to go see a movie that costs $8 per ticket. The opportuni..

Labor and materials are needed to operate efficiently

Determine what changes (if any) in the relative proportions of labor and materials are needed to operate efficiently

What is an oligopoly

What is an "oligopoly" and why do they exist? Mention three or four oligopolies whose products you own or regularly purchase.

What would the costs of each action be how would you make

sometimes market activities production buying and selling have unintended positive or negative effects outside the

Scenario - labor supply and demand

Write a situation that would cause a shift in labor supply and demand. The following areas have had high job growth values and can be used for your scenario:

Find the elasticity of demand for a quantity

Find the elasticity of demand for a quantity of 12. Does this number imply that quantity demanded is sensitive to price changes or insensitive?

Computing output at shut down point

At a price of $24, should a perfectly competitive firm operate or shut down in a the short run if its TC is given as:

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

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