« 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 66 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?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

Did you know?

Calcitonin is a naturally occurring hormone. In women who are at least 5 years beyond menopause, it slows bone loss and increases spinal bone density.

Did you know?

The strongest synthetic topical retinoid drug available, tazarotene, is used to treat sun-damaged skin, acne, and psoriasis.

Did you know?

Anesthesia awareness is a potentially disturbing adverse effect wherein patients who have been paralyzed with muscle relaxants may awaken. They may be aware of their surroundings but unable to communicate or move. Neurologic monitoring equipment that helps to more closely check the patient's anesthesia stages is now available to avoid the occurrence of anesthesia awareness.

Did you know?

Though “Krazy Glue” or “Super Glue” has the ability to seal small wounds, it is not recommended for this purpose since it contains many substances that should not enter the body through the skin, and may be harmful.

Urinometer. In this procedure, a urine sample and urinometer are placed within a tube, and the liqui Urinometer. In this procedure, a urine sample and urinometer are placed within a tube, and the liqui
Great Britain Production of Glass 1800s Great Britain Production of Glass 1800s
Top Ten States Ranked by Rate or Reported Bacterial STI Cases in 2011 Top Ten States Ranked by Rate or Reported Bacterial STI Cases in 2011
Higher-Level Thinking Skills Used in Massage Therapy Higher-Level Thinking Skills Used in Massage Therapy
Saving Rate by Decile of Income per Capita Saving Rate by Decile of Income per Capita
You make 4 semi-annual deposits starting at $350 and increasing at a constant rate of 2.14%. ... You make 4 semi-annual deposits starting at $350 and increasing at a constant rate of 2.14%. ...
Video: Negative Feedback Regulation of Blood Pressure

For a complete list of videos, visit our video library