Posted by **Lisel** on Saturday, September 17, 2011 at 4:22pm.

a producer of light bulbs claims to have the folllowing production function: Q=10L*G.

a) what is the marginal product of labor? or glass?

b)Draw the relavant isoquant map and isocost line if the cost of labor is $4 per work-hour and the cost of glass is $4 per pound and 90 light bulds are to be produced.

What is the cost minimizing combination of glass and labor>

c) If Q were to increase to 160 light bulbs, would this firm exhibits constant, increasing or decreasing returns to scale. Explain.

## Answer this Question

## Related Questions

- economics - The cost function for an enterprise has the following form: TC = 10L...
- Economics - Consider the production function Q= 20K^(1/2)L^(1/2). The firm ...
- managerial economics - Which of the following are characteristics of a typical ...
- Economics - Economics Production Schedule The owner of a car wash is trying to ...
- Economics - Consider the production function Q = 20K 1/2 L 1/2. The firm ...
- 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 - explain how a firm's production function is related to its marginal ...
- economics - Pyramid corporation is currently employing 20 tons of cement and 40 ...
- eceonomic - The isoquant line is described on this forms: a)y=[x1/2 + x1/2]2 (1/...

More Related Questions