Non-Plagiarized Papers

Relying on the most credible sources and scrupulous research, we complete well-thought, plagiarism-free written papers of competitive quality.

Experienced Writers

Our cohesive group of well-trained, intelligent Master’s and PhD writers is familiar with all types of academic papers and can cope with them efficiently.

Timely Delivery

With respect to our clients, we strive to prepare every paper by the deadline and deliver it within the specified time.

Customer Support

Customer convenience and satisfaction are our major principles and we do our best for everyone to get prompt answers to their questions.

What is the MC of producing an additional engine and the MC of each lawn tractor

Economics Questions

1. A company has developed the production function of Q=80 L^(0.5) K^(0.6) where L represents labour and K represents capital.
a. If L is increased by 2% with K unchanged, what is the resulting percentage change in output?
b. Describe the nature of returns to scale for this production function.

2. A firm makes and sells lawn tractors. The sum of the costs of frames, assembly and the engine equals the cost of each tractor. The firm produces its own engines according to the cost equation CE=235,000+800Q+3Q^2. The cost of the frames and assembly is $550 per lawn tractor. The demand function is Q=320-0.04P.
a. What is the MC of producing an additional engine and the MC of each lawn tractor? Find the firm’s profit-maximizing quantity and price.
b. Assume the firm has the chance to buy an unlimited number of engines from another company at a price of $845 per engine. Will this option affect the number of lawn tractors the firm plans to produce? What would their price be? Will the firm continue to produce its’ own engines? If so, how many?

PLACE AN ORDER TODAY & GET 15 % DISCOUNT (CODE G A C 15 )

customer service software