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grigory [225]
4 years ago
12

Consider the following production function: q = 7LK + 5L^2 - (1/3) L^3. Given the following expressions for the marginal product

ivity of each input: MP_L = 7K + 10L - L^2 and MP_K = 7L Assuming capital is plotted on the vertical axis and labor is plotted on the horizontal axis, determine the value of the marginal rate of technical substitution when K = 30 and L = 15. (Round your answer up to two decimal places and include the proper sign.)
Business
1 answer:
natali 33 [55]4 years ago
6 0

Answer:

The  value of the marginal rate of technical substitution when K = 30 and L = 15 is 1.285

Explanation:

MRTS_KL = MP_L/MP_K

                 = (7K + 10L - L^2)/7L

                 = (7*30 + 10*15 - (15)^2)/7*15

                 = 1.285

Therefore, The  value of the marginal rate of technical substitution when K = 30 and L = 15 is 1.285

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B. Economic classes

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Answer:

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April             Factory Overhead                           $16,720

                    Indirect materials                                                    $10,500

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3 0
3 years ago
consumption vs. saving. Do you think these preferences are more influenced by advertisements for products that are consumable to
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Consumption is influenced by advertisements for products that are consumable today and savings from ads that advocate in investing tomorrow.

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Both are important to run the circular flow of economy. If a person invests savings on a product, so there should be someone to consume it, this will help in achieving equilibrium point between aggregate demand and aggregate supply.

Increase in one shall result in decrease in other and in both cases either there will be more products to be consumed rather than the actual consumption resulting in surplus if there is excess saving or vice versa .

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4 years ago
1. Peter's Audio Shop has a before-tax cost of debt of 7%, a cost of equity of 11%, and a cost of preferred stock of 8%. The fir
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Answer:

9.14%

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Debt = $500,000 × 1.02

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Preferred = 40,000 × $34

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Common = 104,000 × $20

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Total = $0.51 m + $1.36 m + $2.08 m

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Therefore for computing the weighted average cost of capital we simply applied the above equation.

7 0
3 years ago
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