According to the table below,what is the marginal cost of producing 90 units of output? \[\begin{array} { | l | l | l |} \hline \mathbf { Q } & \mathbf { F C } & \mathbf { V C } \\ \hline 0 & 1,000 & 0 \\ \hline 20 & 1,000 & 350 \\ \hline 50 & 1,000 & 700 \\ \hline 90 & 1,000 & 1,050 \\ \hline 125 & 1,000 & 1,400 \\ \hline 145 & 1,000 & 1,750 \\ \hline 160 & 1,000 & 2,100 \\ \hline \end{array}\]

A) 5.32 B) 8.75 C) 11.67 D) 21.00 A) 5.32 B) 8.75 C) 11.67 D) 21.00

According to the table below,what is the average total cost of producing 160 units of output? \[\begin{array} { | l | l | l |} \hline \mathbf { Q } & \mathbf { F C } & \mathbf { V C } \\ \hline 0 & 1,000 & 0 \\ \hline 20 & 1,000 & 350 \\ \hline 50 & 1,000 & 700 \\ \hline 90 & 1,000 & 1,050 \\ \hline 125 & 1,000 & 1,400 \\ \hline 145 & 1,000 & 1,750 \\ \hline 160 & 1,000 & 2,100 \\ \hline \end{array}\]

A) 12.98 B) 16.31 C) 22.04 D) 19.38 A) 12.98 B) 16.31 C) 22.04 D) 19.38

Exam 5: The Production Process and Costs

Suppose that production for good X is characterized by the following production function,Q = K^0.5L^0.5,where K is the fixed input in the short run.If the per-unit rental rate of capital,r,is $25 and the per-unit wage,w,is $15,then the average total cost of using 81 units of capital and 9 units of labor is:

(Multiple Choice)

4.7/5

(32)

Question 61

You are an efficiency expert hired by a manufacturing firm that uses K and L as inputs.The firm produces and sells a given output.If w = $40,r = $100,MP_L = 4,and MP_K = 40 the firm:

(Multiple Choice)

4.7/5

(38)

Question 62

Costs that change as output changes are:

(Multiple Choice)

4.8/5

(40)

Question 63

Given the linear production function Q = 10K + 5L,if Q = 10,000 and K = 500,how much labor is utilized?

(Multiple Choice)

4.8/5

(29)

Question 64

The short run is defined as the time frame:

(Multiple Choice)

4.9/5

(43)

Question 65

Firm managers should use inputs at levels where the:

(Multiple Choice)

4.8/5

(32)

Question 66

You are an efficiency expert hired by a manufacturing firm that uses K and L as inputs.The firm produces and sells a given output.If w = $40,r = $100,MP_L = 20,and MP_K = 40 the firm:

(Multiple Choice)

4.9/5

(44)

Question 67

According to the table below,what is the marginal cost of producing 90 units of output? 0 1,000 0 20 1,000 350 50 1,000 700 90 1,000 1,050 125 1,000 1,400 145 1,000 1,750 160 1,000 2,100

(Multiple Choice)

4.9/5

(40)

Question 68

The production function for a competitive firm is Q = K^.5L^.5.The firm sells its output at a price of $10,and can hire labor at a wage of $5.Capital is fixed at one unit and costs $2.The maximum profits are:

(Multiple Choice)

4.8/5

(38)

Question 69

Suppose that production for good X is characterized by the following production function,Q = K^0.5L^0.5,where K is the fixed input in the short run.If the per-unit rental rate of capital,r,is $15 and the per-unit wage,w,is $25,then the average fixed cost of using 9 units of capital and 81 units of labor is:

(Multiple Choice)

4.9/5

(37)

Question 70

Which of the following "costs" could a firm that wants to remain in business avoid if it halted current production?

(Multiple Choice)

4.8/5

(39)

Question 71

In the short run,the marginal cost curve crosses the average total cost curve at:

(Multiple Choice)

4.9/5

(32)

Question 72

Fixed costs exist only in:

(Multiple Choice)

5.0/5

(36)

Question 73

Suppose that production for good X is characterized by the following production function,Q = K^0.5L^0.5,where K is the fixed input in the short run.If the per-unit rental rate of capital,r,is $25 and the per-unit wage,w,is $15,then the average variable cost of using 81 units of capital and 9 units of labor is:

(Multiple Choice)

4.8/5

(37)

Question 74

If the production function is Q = K^.5L^.5 and capital is fixed at 1 unit,then the average product of labor when L = 25 is:

(Multiple Choice)

4.8/5

(30)

Question 75

For the production function Q = 5.2K + 3.8L,if K = 16 and L = 12,we know that MP_K is:

(Multiple Choice)

4.8/5

(35)

Question 76

Show that the Cobb-Douglas production function $Q = K ^ { 1 / / 4 } L ^ { 3 } / 4$ exhibits the law of diminishing marginal rate of technical substitution.

(Essay)

4.9/5

(34)

Question 77

Which of the following is the most common source of technology?

(Multiple Choice)

4.8/5

(43)

Question 78

According to the table below,what is the average total cost of producing 160 units of output? 0 1,000 0 20 1,000 350 50 1,000 700 90 1,000 1,050 125 1,000 1,400 145 1,000 1,750 160 1,000 2,100

(Multiple Choice)

4.8/5

(36)

Question 79

The point where diminishing marginal returns has begun to affect production is best characterized by the point where the:

(Multiple Choice)

5.0/5

(37)

Question 80

Showing 61 - 80 of 186

You are an efficiency expert hired by a manufacturing firm that uses K and L as inputs.The firm produces and sells a given output.If w = $40,r = $100,MP_L = 4,and MP_K = 40 the firm:

Costs that change as output changes are:

Given the linear production function Q = 10K + 5L,if Q = 10,000 and K = 500,how much labor is utilized?

The short run is defined as the time frame:

Firm managers should use inputs at levels where the:

You are an efficiency expert hired by a manufacturing firm that uses K and L as inputs.The firm produces and sells a given output.If w = $40,r = $100,MP_L = 20,and MP_K = 40 the firm:

According to the table below,what is the marginal cost of producing 90 units of output? 0 1,000 0 20 1,000 350 50 1,000 700 90 1,000 1,050 125 1,000 1,400 145 1,000 1,750 160 1,000 2,100

The production function for a competitive firm is Q = K^.5L^.5.The firm sells its output at a price of $10,and can hire labor at a wage of $5.Capital is fixed at one unit and costs $2.The maximum profits are:

Which of the following "costs" could a firm that wants to remain in business avoid if it halted current production?

In the short run,the marginal cost curve crosses the average total cost curve at:

Fixed costs exist only in:

If the production function is Q = K^.5L^.5 and capital is fixed at 1 unit,then the average product of labor when L = 25 is:

For the production function Q = 5.2K + 3.8L,if K = 16 and L = 12,we know that MP_K is:

Show that the Cobb-Douglas production function $Q = K ^ { 1 / / 4 } L ^ { 3 } / 4$ exhibits the law of diminishing marginal rate of technical substitution.

Which of the following is the most common source of technology?

According to the table below,what is the average total cost of producing 160 units of output? 0 1,000 0 20 1,000 350 50 1,000 700 90 1,000 1,050 125 1,000 1,400 145 1,000 1,750 160 1,000 2,100

The point where diminishing marginal returns has begun to affect production is best characterized by the point where the:

The Fundamentals of Managerial Economics

Market Forces: Demand and Supply

Quantitative Demand Analysis

The Theory of Individual Behavior

The Organization of the Firm

The Nature of Industry

Managing in Competitive, Monopolistic, and Monopolistically Competitive Markets

Basic Oligopoly Models

Game Theory: Inside Oligopoly

Pricing Strategies for Firms With Market Power

The Economics of Information

Advanced Topics in Business Strategy

A Managers Guide to Government in the Marketplace

Filters

Exam 5: The Production Process and Costs

You are an efficiency expert hired by a manufacturing firm that uses K and L as inputs.The firm produces and sells a given output.If w = $40,r = $100,MPL = 4,and MPK = 40 the firm:

Costs that change as output changes are:

Given the linear production function Q = 10K + 5L,if Q = 10,000 and K = 500,how much labor is utilized?

The short run is defined as the time frame:

Firm managers should use inputs at levels where the:

You are an efficiency expert hired by a manufacturing firm that uses K and L as inputs.The firm produces and sells a given output.If w = $40,r = $100,MPL = 20,and MPK = 40 the firm:

According to the table below,what is the marginal cost of producing 90 units of output? 0 1,000 0 20 1,000 350 50 1,000 700 90 1,000 1,050 125 1,000 1,400 145 1,000 1,750 160 1,000 2,100

The production function for a competitive firm is Q = K.5L.5.The firm sells its output at a price of $10,and can hire labor at a wage of $5.Capital is fixed at one unit and costs $2.The maximum profits are:

Which of the following "costs" could a firm that wants to remain in business avoid if it halted current production?

In the short run,the marginal cost curve crosses the average total cost curve at:

Fixed costs exist only in:

If the production function is Q = K.5L.5 and capital is fixed at 1 unit,then the average product of labor when L = 25 is:

For the production function Q = 5.2K + 3.8L,if K = 16 and L = 12,we know that MPK is:

Show that the Cobb-Douglas production function Q=K1//4L3/4Q = K ^ { 1 / / 4 } L ^ { 3 } / 4Q=K1//4L3/4 exhibits the law of diminishing marginal rate of technical substitution.

Which of the following is the most common source of technology?

According to the table below,what is the average total cost of producing 160 units of output? 0 1,000 0 20 1,000 350 50 1,000 700 90 1,000 1,050 125 1,000 1,400 145 1,000 1,750 160 1,000 2,100

The point where diminishing marginal returns has begun to affect production is best characterized by the point where the:

The Fundamentals of Managerial Economics

Market Forces: Demand and Supply

Quantitative Demand Analysis

The Theory of Individual Behavior

The Organization of the Firm

The Nature of Industry

Managing in Competitive, Monopolistic, and Monopolistically Competitive Markets

Basic Oligopoly Models

Game Theory: Inside Oligopoly

Pricing Strategies for Firms With Market Power

The Economics of Information

Advanced Topics in Business Strategy

A Managers Guide to Government in the Marketplace

Filters

You are an efficiency expert hired by a manufacturing firm that uses K and L as inputs.The firm produces and sells a given output.If w = $40,r = $100,MP_L = 4,and MP_K = 40 the firm:

You are an efficiency expert hired by a manufacturing firm that uses K and L as inputs.The firm produces and sells a given output.If w = $40,r = $100,MP_L = 20,and MP_K = 40 the firm:

The production function for a competitive firm is Q = K^.5L^.5.The firm sells its output at a price of $10,and can hire labor at a wage of $5.Capital is fixed at one unit and costs $2.The maximum profits are:

If the production function is Q = K^.5L^.5 and capital is fixed at 1 unit,then the average product of labor when L = 25 is:

For the production function Q = 5.2K + 3.8L,if K = 16 and L = 12,we know that MP_K is:

Show that the Cobb-Douglas production function $Q = K ^ { 1 / / 4 } L ^ { 3 } / 4$ exhibits the law of diminishing marginal rate of technical substitution.