Posted by **mary** on Thursday, October 28, 2010 at 2:48pm.

The cost function for an enterprise has the following form:

TC = 10L + 20K

The production function has the form: 4 ln L + 10 K 1/2

a. Derive the mathematical forms of the marginal and average products of capital and

labor. How is the marginal product of labor affected by changes in capital?

b. Describe the production position and combinations of inputs for when total costs are

equal to 300 and 700.

## Answer This Question

## Related Questions

- Economics - Consider the production function Q= 20K^(1/2)L^(1/2). The firm ...
- Economics Help pls - Suppose you are given the following production function: , ...
- Math Calculus - Economists use production functions to describe how output of a ...
- Math (UBC) - Economists use production functions to describe how output of a ...
- Economics - Initially suppose that both countries have the same production ...
- economics - HELP!!!!! One and only Inc is a monopolist. The demand function for ...
- MATHS - A company is a monopolist. The demand function for its product is as ...
- Economics - Consider the production function Q = 20K 1/2 L 1/2. The firm ...
- Business Calculus - A company has operating costs of $2000 per thousand items ...
- home economics - The economist for the Grand Corporation has estimated the ...

More Related Questions