« previous next »

Author Question: Suppose MPL = 20 and MPK = 40 and the rental rate on capital is 10 . If the level of production is ... (Read 76 times)

james9437

  • Hero Member
  • *****
  • Posts: 568
on: Jul 1, 2018
Suppose MPL = 20 and MPK = 40 and the rental rate on capital is 10 . If the level of production is currently efficient, the wage rate must be
 a. 10
  b. 5
  c. 20
  d. 40

Question 2

Suppose a production function is q = K1/2L1/3 and in the short run capital (K) is fixed at 100 . If the wage is 10 and the rental rate on capital is 20, the fixed cost is
 a. 2,000
  b. 200
  c. 20,000
  d. 0


Ahnyah

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jul 1, 2018
Answer to Question 1

b

Answer to Question 2

a


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

james9437

  • Hero Member
  • *****
  • Posts: 568
Reply #2 on: Jul 1, 2018
Thank you


Ahnyah

  • Sr. Member
  • ****
  • Posts: 336
Reply #3 on: Jul 1, 2018
No problemo


« previous next »
 

Did you know?

Normal urine is sterile. It contains fluids, salts, and waste products. It is free of bacteria, viruses, and fungi.

Did you know?

About one in five American adults and teenagers have had a genital herpes infection—and most of them don't know it. People with genital herpes have at least twice the risk of becoming infected with HIV if exposed to it than those people who do not have genital herpes.

Did you know?

Medications that are definitely not safe to take when breastfeeding include radioactive drugs, antimetabolites, some cancer (chemotherapy) agents, bromocriptine, ergotamine, methotrexate, and cyclosporine.

Did you know?

Once thought to have neurofibromatosis, Joseph Merrick (also known as "the elephant man") is now, in retrospect, thought by clinical experts to have had Proteus syndrome. This endocrine disease causes continued and abnormal growth of the bones, muscles, skin, and so on and can become completely debilitating with severe deformities occurring anywhere on the body.

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

Testing Visual Fields by Confrontation: The nurse and patient should be approximately at an eye to e Testing Visual Fields by Confrontation: The nurse and patient should be approximately at an eye to e
Does this child have legs of different lengths or scoliosis? Look at the level of the iliac crests a Does this child have legs of different lengths or scoliosis? Look at the level of the iliac crests a
Production of Saliva Production of Saliva
The rate of facilitated diffusion The rate of facilitated diffusion
Rapid sea level rise Rapid sea level rise
Effect of Increasing the Investment Rate on the Steady State Effect of Increasing the Investment Rate on the Steady State
Video: Congenital Heart Defects Animation

For a complete list of videos, visit our video library