Question 4 (part of QUESTION B1) Firm Catabet Ltd. has the production function: Q2 = (L K)/2.5 where Q is output quantit

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899603
Joined: Mon Aug 02, 2021 8:13 am

Question 4 (part of QUESTION B1) Firm Catabet Ltd. has the production function: Q2 = (L K)/2.5 where Q is output quantit

Post by answerhappygod »

Question 4 Part Of Question B1 Firm Catabet Ltd Has The Production Function Q2 L K 2 5 Where Q Is Output Quantit 1
Question 4 Part Of Question B1 Firm Catabet Ltd Has The Production Function Q2 L K 2 5 Where Q Is Output Quantit 1 (30.46 KiB) Viewed 50 times
Question 4 (part of QUESTION B1) Firm Catabet Ltd. has the production function: Q2 = (L K)/2.5 where Q is output quantity. Catabet wants to produce as much as it can, subject to the constraint that it must hire a fixed amount of capital: 400. Output quantity Q and labour L can vary. The price of each unit sold is £1. The wage, and the cost of hiring a photocopier, are both £10. Write an equation for profit. Find the first derivative d(profit) dL Set this first derivative to zero, to find the optimal L. Type your calculation of L in this box: Answer:
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!
Top
Post Reply

Return to “Archived Questions & Answers”