Tuesday
September 2, 2014

Homework Help: economics

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

First Name:
School Subject:
Answer:

Related Questions

art - The statement "form follows function" means function over form, form over ...
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 - Consider the production function Q= 20K^(1/2)L^(1/2). The firm ...
Economics Help pls - Suppose you are given the following production function: , ...
managerial economics - Consider the following short-run production function (...
English - I am confused on my homework which is to name the function and the ...
Economics - Consider the production function Q = 20K 1/2 L 1/2. The firm ...
Economics/Math - Suppose you are the manager of a small chemical company ...
Management & Economics - a producer of light bulbs claims to have the folllowing...

Search
Members