hey there I am doing a hypothesis testing research and was wondering if im doing this correctly.
October 11, 2020
Suppose you have 10 individuals with values {$1,2,3,4,5,6,7,8,9,10}. Your marginal cost of productin is $2.50. What is the profit mazimizing price?
October 11, 2020
Show all

Suppose the production function for widgets is given by q = KL- .8K2 – .

Suppose the production function for widgets is given byq = KL- .8K2 – .IV,where q represents the annual quantity of widgets produced, K represents annual capital input,and L represents annual labor input.a. Suppose K— 10; graph the total and average productivity of labor curves. At what levelof labor input does this average productivity reach a maximum? How many widgets areproduced at that point?b. Again assuming that K= 10, graph the MPL curve. At what level of labor input doesMPL = 0?c. Suppose capital inputs were increased to K — 20. How would your answers to parts (a)and (b) change?d. Does the widget production function exhibit constant, increasing, or decreasing returnsto scale?


Connect with a professional writer in 5 simple steps

Please provide as many details about your writing struggle as possible

Academic level of your paper

Type of Paper

When is it due?

How many pages is this assigment?

“Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!”

Looking for a Similar Assignment? Let us take care of your classwork while you enjoy your free time! All papers are written from scratch and are 100% Original.