Question
In: Economics
a) If the production function is: ? = 2 ∗ ? .5? .6 find the function...
a) If the production function is: ? = 2 ∗ ? .5? .6 find the function for the marginal product of labor and the function for the marginal product of capital.
b) Use the marginal products that you just found and the wage of $100,000 and the rental rate of $1,000,00 to determine if the last dollar rule is satisfied when there are 50 engineers (L) and 2 prototyping facilities (K). If it is not satisfied, should the firm use more engineers or more prototyping facilities.
c) Use a Lagrangian (or another method) to find the optimal combination of capital and labor when the budget is $11 million. It is okay that the resulting amounts of labor and capital may not be integer (whole number) values.
d) Use a Lagrangian (or another method) to find the optimal combination of capital and labor to reach a production target of 50. It is okay that the resulting amounts of labor and capital may not be integer (whole number) values.
Solutions
Rahul Sunny answered 9 months agoRelated Solutions
Find the derivative of the function. y = [x + (x + sin2(x))6]5
Find the derivative of the function.
y = [x + (x + sin2(x))6]5
Find Eigenvalues and eigenvectors 6 -2 2 2 5 0 -2 0 7
Find Eigenvalues and eigenvectors
6 -2 2
2 5 0
-2 0 7
Find the point (s) on the surface function ??^2 ?^3 = 3 + 8 + 6...
Find the point (s) on the surface function ??^2 ?^3 = 3 + 8 + 6
that are closest to the origin.
Given f''(x)= 4x-6 and f'(-2)=5 and f(-2)=1 FIND: Find f'(x)= and find f(2)=
Given f''(x)= 4x-6
and f'(-2)=5 and f(-2)=1
FIND: Find f'(x)=
and find f(2)=
Consider the function f(x)=arctan [(x+6)/(x+5)] Express the domain of the function in interval notation: Find the...
Consider the function f(x)=arctan [(x+6)/(x+5)] Express the
domain of the function in interval notation: Find the y-intercept:
y= . Find all the x-intercepts (enter your answer as a
comma-separated list): x= . Does f have any symmetries? f is even;
f is odd; f is periodic; None of the above. Find all the asymptotes
of f (enter your answers as comma-separated list; if the list is
empty, enter DNE): Vertical asymptotes: ; Horizontal asymptotes: ;
Slant asymptotes: . Determine the...
Consider the function f(x)=arctan [(x+6)/(x+5)] Express the domain of the function in interval notation: Find the...
Consider the function f(x)=arctan [(x+6)/(x+5)]
Express the domain of the function in interval notation: Find
the y-intercept: y= . Find all the x-intercepts (enter your answer
as a comma-separated list): x= . Does f have any symmetries? f is
even; f is odd; f is periodic; None of the above. Find all the
asymptotes of f (enter your answers as comma-separated list; if the
list is empty, enter DNE): Vertical asymptotes: ; Horizontal
asymptotes: ; Slant asymptotes: . Determine the...
5. Consider the function f(x) = -x^3 + 2x^2 + 2. (a) Find the domain of...
5. Consider the function f(x) = -x^3 + 2x^2 + 2.
(a) Find the domain of the function and all its x and y
intercepts.
(b) Is the function even or odd or neither?
(c) Find the critical points, all local extreme values of f, and
the intervals on which f is increasing or decreasing.
(d) Find the intervals where f is concave up or concave down and
all inflection points.
(e) Use the information you have found to sketch...
2. Suppose that the production function is Y=20K0.3N0.7. With the production function, the marginal product of...
2. Suppose that the production function is
Y=20K0.3N0.7. With
the production function, the marginal product of labor is
MPN=14K0.3N-0.3.
The capital stock is K=214. The labor supply curve is
NS=100[(1-t)w]2, where
w is the real wage rate, t is the tax rate on
labor income, and hence (1-t)w is the after-tax
real wage rate.
a)Assume that the tax rate on labor income, t, equals
zero. Find the equation of the labor demand curve. Calculate the
equilibrium levels of the real...
5. For each piecewise linear function, graph the function and find: ...
5. For each piecewise linear function, graph the function and
find: 2 lim x f x 2 lim x f x (a) { ? + 3 ?? ?
< 2 2? + 1 ?? ? ≥ 2 (b) ?(?) = { ? − 2 ?? ? < 2 ? + 1 ?? ? ≥
2 6. For each piecewise linear function, graph the function and
find: x...
Find the modulus of: (a) (3 – j4) (-5 + j12) (b) (2+?)/(4?+(1+?)^2) Express (6 –...
Find the modulus of:
(a) (3 – j4) (-5 + j12)
(b) (2+?)/(4?+(1+?)^2)
Express (6 – ?8)^−3 in the standard form ? + ??. Find its
conjugate.
If ? + ?? = (?+?)/ (?−?) ,where a, b and c are real, prove that
?^2 + ?^2 = 1 and ?/?= (2?)/ (?^2−1)
Please show all your steps so I can understand
Thank you
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