Information for questions 10-12 A firm’s short-run total cost function is given by C=550 + 300 Q + 10 Q2. Capital is the only input that is fixed in the short run, that is, it cannot be changed in the short run. Labor, on the other hand, is variable, and can be changed in the short run. The rental rate is $25 per unit of capital, the wage is $50 per unit of labor. For this group, answers within 1% of the correct answer are accepted, so carry several decimals in your calculations. Enter 0 if the question cannot be answered with the information provided. Suppose that the answer to the previous question was Q=12.56. How much is the firm’s minimum Average Cost?
Information for questions 4-8 The following figure shows thr…
Information for questions 4-8 The following figure shows three isoquants for a firm that produces chocolate, with units of labor on the horizontal axis, and units of capital on the vertical axis. Each isoquant is labeled with the output of chocolate that its combinations of labor and capital produce, in tons of chocolate. Note that each grid spacing is 0.25 on both axes. Also shown are some auxiliary lines in solid black. The steepest line has slope =1, and the three flattest lines all have slope = 1/3 (all of these slopes are in absolute value, by the way). Note that each of the auxiliary lines is tangent to an isoquant, and that its tangency point is marked with a dot. For the numerical answers, only exact answers are accepted. For that purpose, adopt the convention: if a line seems to cross a grid point, assume that it does so exactly. For example, the Q=20 isoquant ends at point (L=8, K=1), exactly. Starting from a wage of 10 and a rental price of 10, suppose that the rental price increases to 30. Calculate the change in the amount of labor that the firm employs, in order to keep producing 20 tons of chocolate at minimum cost. Note that this change can be an increase in the amount of labor, or a decrease, so remember to enter the right sign: that is, enter a positive number if the firm increases the amount of labor, and a negative number if the firm decreases the amount of labor.
Which structure BEST describes the polarity of an H-O bond?…
Which structure BEST describes the polarity of an H-O bond?
Which distribution of hits on the bull’s-eye is described as…
Which distribution of hits on the bull’s-eye is described as precise but not accurate?
Thank you for a great Fall semester and good luck in your fu…
Thank you for a great Fall semester and good luck in your future endeavors!!! It has been a pleasure to be your instructor 🙂 Do not forget to register for your Spring and Summer classes at Chaffey College!!! We look forward to seeing you next semester. I hope that you know now the key to success in Chemistry…
C3H4 + O2 → CO2 + H2O When the following equation is balance…
C3H4 + O2 → CO2 + H2O When the following equation is balanced, the coefficient of allene, C3H4, is:
For the reaction Cl2 + 2 Br- → 2 Cl- + Br2, which of the fol…
For the reaction Cl2 + 2 Br- → 2 Cl- + Br2, which of the following statements is NOT correct?
How many atoms in this molecule have a tetrahedral electroni…
How many atoms in this molecule have a tetrahedral electronic geometry?
If [x] g of aspirin (C9H8O4) are produced from 79.8 g of C7H…
If g of aspirin (C9H8O4) are produced from 79.8 g of C7H6O3, what is the percent yield from the reaction below? C7H6O3 (s) + C4H6O3 (s) → C9H8O4 (s) + HC2H3O2 (aq) (C9H8O4 = 180.17 g/mol and C7H6O3 = 138.13 g/mol)
The pH of an unknown solution is 9.5. Its [OH–] is:
The pH of an unknown solution is 9.5. Its is: