Labor required to produce 100 Frisbees per hour, when capital input is fixed at 10 per hour.

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Answer 1

Question

Chapter 6, Problem 6.2P

a.

To determine

To calculate: Labor required to produce 100 Frisbees per hour, when capital input is fixed at 10 per hour.

b.

To determine

To calculate: Labor required to produce 100 Frisbees per hour, when capital input is fixed at 25 per hour.

c.

To determine

To draw: Isoquants at output of100 frisbees, indicating points of sub-part a and b and determination of rate of substitution along the isoquants with reason for it being constant.

d.

To determine

To draw: Isoquants at output of 50 frisbees and 100 frisbees, stating the shape of entire isoquant map.

e.

To determine

To evaluate: Sub parts (a) to sub part (d) with new production function.

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Students have asked these similar questions

Frisbees are produced according to the production function q = 2K+Lwhere q =output of frisbees per hour, K =capital input per hour, L =labor input per hour. a) If K = 10, how much L is needed to produce 100 frisbees per hour? b) If K = 25, how much L is needed to produce 100 frisbees per hour? c) Graph the q = 100 isoquant. Indicate the points on that isoquantd defined in part a and part b. What is the RTS along this isoquant? Explain why the RTS is the same at every point on the isoquant.

The production function for hamburgers can be written as q = 0.1X + 0.1Y, where X is Canadian ground beef and Y is U.S. beef, both measured in pounds. Which graph in the figure best represents the isoquants for the hamburger production when U.S. ground beef is on the vertical axis and Canadian ground beef is on the horizontal axis?

Suppose the production function is given by 0 = 2K - 5L What is the marginal product of labor when 15 units of capital and 10 units of labor are employed?

Answer 2

Question

Chapter 6, Problem 6.2P

a.

To determine

To calculate: Labor required to produce 100 Frisbees per hour, when capital input is fixed at 10 per hour.

b.

To determine

To calculate: Labor required to produce 100 Frisbees per hour, when capital input is fixed at 25 per hour.

c.

To determine

To draw: Isoquants at output of100 frisbees, indicating points of sub-part a and b and determination of rate of substitution along the isoquants with reason for it being constant.

d.

To determine

To draw: Isoquants at output of 50 frisbees and 100 frisbees, stating the shape of entire isoquant map.

e.

To determine

To evaluate: Sub parts (a) to sub part (d) with new production function.

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Answer 3

Question

Chapter 6, Problem 6.2P

a.

To determine

To calculate: Labor required to produce 100 Frisbees per hour, when capital input is fixed at 10 per hour.

b.

To determine

To calculate: Labor required to produce 100 Frisbees per hour, when capital input is fixed at 25 per hour.

c.

To determine

To draw: Isoquants at output of100 frisbees, indicating points of sub-part a and b and determination of rate of substitution along the isoquants with reason for it being constant.

d.

To determine

To draw: Isoquants at output of 50 frisbees and 100 frisbees, stating the shape of entire isoquant map.

e.

To determine

To evaluate: Sub parts (a) to sub part (d) with new production function.

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Answer 4

Question

Chapter 6, Problem 6.2P

a.

To determine

To calculate: Labor required to produce 100 Frisbees per hour, when capital input is fixed at 10 per hour.

b.

To determine

To calculate: Labor required to produce 100 Frisbees per hour, when capital input is fixed at 25 per hour.

c.

To determine

To draw: Isoquants at output of100 frisbees, indicating points of sub-part a and b and determination of rate of substitution along the isoquants with reason for it being constant.

d.

To determine

To draw: Isoquants at output of 50 frisbees and 100 frisbees, stating the shape of entire isoquant map.

e.

To determine

To evaluate: Sub parts (a) to sub part (d) with new production function.

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Answer 5

Chapter 6, Problem 6.2P

a.

To determine

To calculate: Labor required to produce 100 Frisbees per hour, when capital input is fixed at 10 per hour.

b.

To determine

To calculate: Labor required to produce 100 Frisbees per hour, when capital input is fixed at 25 per hour.

c.

To determine

To draw: Isoquants at output of100 frisbees, indicating points of sub-part a and b and determination of rate of substitution along the isoquants with reason for it being constant.

d.

To determine

To draw: Isoquants at output of 50 frisbees and 100 frisbees, stating the shape of entire isoquant map.

e.

To determine

To evaluate: Sub parts (a) to sub part (d) with new production function.

Answer 6

Chapter 6, Problem 6.2P

a.

To determine

To calculate: Labor required to produce 100 Frisbees per hour, when capital input is fixed at 10 per hour.

Answer 7

Chapter 6, Problem 6.2P

a.

To determine

To calculate: Labor required to produce 100 Frisbees per hour, when capital input is fixed at 10 per hour.

Answer 8

b.

To determine

To calculate: Labor required to produce 100 Frisbees per hour, when capital input is fixed at 25 per hour.

Answer 9

b.

To determine

To calculate: Labor required to produce 100 Frisbees per hour, when capital input is fixed at 25 per hour.

Answer 10

c.

To determine

To draw: Isoquants at output of100 frisbees, indicating points of sub-part a and b and determination of rate of substitution along the isoquants with reason for it being constant.

Answer 11

c.

To determine

To draw: Isoquants at output of100 frisbees, indicating points of sub-part a and b and determination of rate of substitution along the isoquants with reason for it being constant.

Answer 12

d.

To determine

To draw: Isoquants at output of 50 frisbees and 100 frisbees, stating the shape of entire isoquant map.

Answer 13

d.

To determine

To draw: Isoquants at output of 50 frisbees and 100 frisbees, stating the shape of entire isoquant map.

Answer 14

e.

To determine

To evaluate: Sub parts (a) to sub part (d) with new production function.

Answer 15

e.

To determine

To evaluate: Sub parts (a) to sub part (d) with new production function.

Answer 16

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Answer 17

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Answer 18

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Answer 19

Ch. 6.2 - Prob. 1TTA Ch. 6.2 - Prob. 2TTA Ch. 6.2 - Prob. 1MQ Ch. 6.2 - Prob. 2MQ Ch. 6.3 - Prob. 1TTA Ch. 6.3 - Prob. 2TTA Ch. 6.3 - Prob. 1MQ Ch. 6.3 - Prob. 2MQ Ch. 6.4 - Prob. 1TTA Ch. 6.4 - Prob. 2TTA

Labor required to produce 100 Frisbees per hour, when capital input is fixed at 10 per hour.

Solution Summary: The author explains how a production function describes the relationship between factors of production and quantity of goods produced.

Concept explainers

To calculate: Labor required to produce 100 Frisbees per hour, when capital input is fixed at 10 per hour.

To calculate: Labor required to produce 100 Frisbees per hour, when capital input is fixed at 25 per hour.

To draw: Isoquants at output of100 frisbees, indicating points of sub-part a and b and determination of rate of substitution along the isoquants with reason for it being constant.

To draw: Isoquants at output of 50 frisbees and 100 frisbees, stating the shape of entire isoquant map.

To evaluate: Sub parts (a) to sub part (d) with new production function.

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Chapter 6 Solutions