题目

ECON3200001.1251 Homework Assignment 5

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Consider the utility functions (i) L2K2, (ii) 2L + 3K. Find MPL and MPK for both of them. We can say: MPL (i) is: Increasing . MPK (i) is: [選擇] Constant Increasing Decreasing . MPL (ii) is: [選擇] Decreasing Increasing Constant . MPK (ii) is: Constant .

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To tackle the problem, we first identify the two utility functions and compute their marginal products. Option set for MPL (i): 'Increasing' vs 'Constant' vs 'Decreasing' corresponds to how ∂U/∂L changes as L changes holding K fixed. - If U(i) = L^2 K^2, then MPL(i) = ∂U/∂L = 2L K^2. Holding K fixed, MPL(i) is proportional to L, so as L increases, MPL(i) increases. Therefore, 'Incre......Login to view full explanation

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ECON3200001.1251 Homework Assignment 5

Consider the utility functions (i) L2K2, (ii) 2L + 3K. Find MPL and MPK for both of them. We can say: MPL (i) is: Increasing . MPK (i) is: [選擇] Constant Increasing Decreasing . MPL (ii) is: [選擇] Decreasing Increasing Constant . MPK (ii) is: Constant .

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类似问题

For a firm hiring labor in a perfectly competitive labor market, the marginal revenue product curve slopes downward after some point because as more of a factor is employed, which of the following declines?

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ECON3200001.1251 Homework Assignment 5

Consider the utility functions (i) L2K2, (ii) 2L + 3K. Find MPL and MPK for both of them. We can say: MPL (i) is: Increasing . MPK (i) is: [選擇] Constant Increasing Decreasing . MPL (ii) is: [選擇] Decreasing Increasing Constant . MPK (ii) is: Constant .

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类似问题

For a firm hiring labor in a perfectly competitive labor market, the marginal revenue product curve slopes downward after some point because as more of a factor is employed, which of the following declines?

Assume that a firm hires an additional employee. If the marginal product for that employee is greater than for the previous employee hired, it must be that

The marginal physical product of the second worker is

Table 13-1 ​ Labor (Number of Workers) Output (Units) Marginal Product (Units) 0 0 – 1 30 2 45 3 60 4 50 5 40 ​ ​ Refer to Table 13-1. What is total output when 1 worker is hired?

Locotek produces toy trains and pays each worker $350 per week. Five workers can produce 40 trains per week and six workers can produce 45 trains per week. The marginal product per week of the sixth worker is

Question at position 2 Locotek produces toy trains and pays each worker $350 per week. Five workers can produce 40 trains per week and six workers can produce 45 trains per week. The marginal product per week of the sixth worker is $350$705 trains42.5 trains7.5 trains

5. Given the data below on labor and output in the short run: L Q 1 10 2 18 3 24 The marginal product of the second worker is:

更多留学生实用工具

希望你的学习变得更简单

Table 13-1 Labor (Number of Workers) Output (Units) Marginal Product (Units) 0 0 – 1 30 2 45 3 60 4 50 5 40 Refer to Table 13-1. What is total output when 1 worker is hired?