1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
grigory [225]
3 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]3 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

You might be interested in
"During the project life cycle, project managers encounter many occasions to employ their negotiating skills in interactions wit
lesantik [10]

Answer:

A. True

Explanation:

Manager need to employ their negotiating skill in different areas.

And the subject of negotiation written are all correct

7 0
3 years ago
Rick eats only french fries and burgers at his office cafeteria. His weekly lunch budget is $48. Each burger costs $6 and each o
Zigmanuir [339]

Answer:

The correct answer is 16 utils.

Explanation:

Amount spent by Rick to get utility of 8 = $6*2 + $3 * 4 = $24

$48/ $24 = 2

$48 will give Rick 2 sets of products combination that give him utility of 8.

At his utility-maximizing point, Rick's utility is 2* 8 = 16 utils.

7 0
3 years ago
Concord Company uses the FIFO method to compute equivalent units. It has 4000 units in beginning work in process, 20% complete a
Andrej [43]

Answer:

67,840 units

Explanation:

The computation of the equivalent units for material by using the FIFO method is shown below:

<u>Particulars       Unit       Percentage completion   Equivalent units</u>

Opening

inventory       4,000 units     50%                          2,000 units

Completed

& transferred

(67,000

- 5,800)        61,200 units    100%                         61,200 units

Closing  

inventory      5,800 units      80%                         4,640 units

Total                                                                       67,840 units

8 0
3 years ago
Carla Vista Co. issued $590,000, 10-year, 7% bonds at 101. Prepare the journal entry to record the sale of these bonds on Januar
34kurt

Answer:

cash             595,900 debit

     bonds payable               590,000 credit

     premium on bonds             5,900 credit

Explanation:

We have to record the issuance of the bonds:

<em><u>cash proceeds:</u></em>

face value x quote:

590,000 x 101/100 = 595,900

face value                <u> (590,000)</u>

<em>premium </em>                        5,900

<em>There is a premium as we are receiving more than we are going to pay at maturity.</em>

We will debit the cash proceeds form the bond

and credit the bonds and premium

6 0
3 years ago
A popular cartoon channel on television ran a holiday feature on the best and worst high-tech gifts for children. in the feature
VashaNatasha [74]

Video news release (ignore what im typing in the parenthesis im taking up space)

4 0
3 years ago
Other questions:
  • Tony decides to hold the company’s first adventure race on December 15. Four-person teams will race from checkpoint to checkpoin
    13·1 answer
  • Municipal bonds are issued by what?
    6·1 answer
  • Which statement would apply to a consortium?
    15·1 answer
  • What type of advertising communicates the specific features, values, and benefits of a product offered by a particular company?
    10·1 answer
  • The Administrator of the state of Wisconsin has designated the Investment Adviser Registration Depository (IARD) as the approved
    9·1 answer
  • Which of the following best defines health insurance? (1 point)
    7·1 answer
  • Personal finances-- multiple choice!
    10·2 answers
  • Which statement describes an advantage of buying a home?
    10·2 answers
  • Lori wants to give her daughter $25,000 in 8 years to start her own business. How much should Lori invest today, at an annual in
    6·1 answer
  • this is the percentage of each dollar of income, on average, that is spent for current needs and wants, rather than saved.
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!