6. La función de Utildad en una industria es U(x1, x2) = Axxx₁, considere los siguientes problemas: P1 máx U(X) s.a p² x = m p²x p vector de precios P2: mín px s.a U(X) = U a) determine la relación entre: V₁(p, m) Эт OV₂(p,U) y au donde V₁ y V₂ son las funciones de máximo valor, con los multiplica- dores de lagrange asociados a los problemas P₁ y P2 respectivamente. b) Se conoce que V₂(p,Ū) = −E(p,Ū) y que E(p, V₁(p, m)) = m muestre que si λ₁ es el multiplicador para P₁ y λ₂ es el multiplicador para P2 entonces A₁₂ = −1|

Please complete the below table. Output TotalFixed Cost TotalVariable TotalCost AverageFixed AverageVariable AverageTotal cost MarginalCost 0     20         1   10           2             6 3   24           4           13.5   5     66         6             14 7   76           8     114

4:34 D *3 all 100% I 2. 3 When the inputs price ratio (slope of cost line) is greater than the MRTS, (MPK/PK > MPL/PL) the producer should use .. to minimize the cost. A More labar C Mare labor and more capital B More Capital D| None of the above 4 The optimal production method A maximizes output regardiess of cost C minimizes the normal rate of return B| maximizes inputs. Dminimizes cost 5. Refer to the information provided in the following figure, If this firm's cost of labor is $10 per unit, and the isocost line represents a total cost 2000. How much is the cost of capital per unit? 100 q-300 -200 -100 200 Units of labor Linits of capital

Bus Econ 4.2.11 Question Help v A juice company has found that the marginal cost of producing x pints of fresh-squeezed orange juice is given by the function below, where C') is in dolliars. Approximate the total cost of producing 276 pt of juice, using 3 subintervals over 0,276] and the left endpoint of each subinterval C'-0.000007x-0.0035x+4, for xs350 The total cost is about $ (Round the final answer to the nearest oent as needed. Round all intermediate values to the nearest thousandth as needed) Enter your answer in the answer box and then click Check Answer. Check Answer ll parts showing Clear Al 2AM Start P Type here to search 同 DELL F10 F4 %23 6. R

estions tu1et10r.07.099 O O Question 18 of 20 Which of the following statements is true? a. When marginal cost is below average cost, average cost rises; when marginal cost is above average cost, average cost falls. b. The marginal product is the output per unit of a variable input. c. When marginal productivity of a variable input is falling then marginal costs of production must be rising. d. Average variable cost and average fixed cost are U-shaped curves.

1.Suppose a chair manufacturer is producing in the short run (with its existing plant andequipment). The manufacturer has observed the following levels of production correspondingto different numbers of workers:Number of Workers  Number ofChairs              1                            10              2                            18              3                            24             4                            28            5                              30            6                             28            7                             25a. Calculate the marginal and average product of labor for this production function.b. Does this production function exhibit diminishing returns to labor? Explain.c. Explain intuitively what might cause the marginal product of labor to becomenegative.

7 which of the following are examples of fixed-proportions production functions?

4) Please indicate whether the following production function has the characteristic of CRS, IRS and DRS. (a) F(Z1, Z2)=(Zı+Z2)/2 1. CRS 2. IRS 3. DRS 4. None of the above (b) F(K, L)=[aKP +(1-a)Lº ]Ve, (1>a>0, 1>p) 1. CRS 2. IRS 3. DRS 4. None of the above

What is the difference between economies of scale andeconomies of scope? How do firms consider these wheninvesting in processes?

2) The Trouser Company has fixed costs of 2,000 per week. In addition, we have some information about its marginal costs (MC) and total variable costs (TVC). Output MC TVC 30 60 90 100 120 150 140 59 32 59 80 6,000 8,160 14,250 140 275 2,850 4,080 5,310 a) For each of the output levels in the table, calculate the Trouser Company's average variable costs (AVC) and average (total) cost (AC) Output 30 60 90 100 120 150 MC 140 59 32 59 80 140 275 TVC 2,850 4,080 5,310 6,000 8,160 14,250 b) Sketch a diagram showing the marginal cost curve, the average variable cost curve, and the firm's short run supply curve. c) Explain how the firm would maximise its profit, assuming that it faces conditions of perfect competition, in both the short run and the long run. Be careful to explain the conditions under which the firm would shut down or close.