{"id":55,"date":"2016-07-26T04:10:04","date_gmt":"2016-07-26T04:10:04","guid":{"rendered":"http:\/\/essayparlour.com\/paperhelp\/uncategorized\/the-fir-show-more-suppose-a-firm-in-a-competitive-market\/"},"modified":"2016-07-26T04:10:04","modified_gmt":"2016-07-26T04:10:04","slug":"the-fir-show-more-suppose-a-firm-in-a-competitive-market","status":"publish","type":"post","link":"https:\/\/essayparlour.com\/paperhelp\/economics\/the-fir-show-more-suppose-a-firm-in-a-competitive-market\/","title":{"rendered":"The fir&#8230; Show more Suppose a firm in a competitive market"},"content":{"rendered":"<p>The fir&#8230; Show more Suppose a firm in a competitive market has the following production function : q= L^0.5K^0.5 The firm has the following info: K=25, price of capital &#8220;r&#8221;=4 going wage rate &#8220;w&#8221;=50 1) This function exhibits constant returns to scale, violate the law of diminishing returns? 2) This firm sells in a competitive market at a price of $60 unit per unit. Find the profit maxiizing level of output, total revenues, total costs and economic profits. 3) Find this firm&#8217;s short run supply function 4) At what price and output level will this firm just break even? \u2022 Show less<\/p>\n<p><a href='http:\/\/essayparlour.com\/order'><img id='order_now' class='aligncenter' src='http:\/\/essayparlour.com\/wp-content\/uploads\/2016\/07\/8952039_orig.png' alt='Order Now' name='order_now'><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The fir&#8230; Show more Suppose a firm in a competitive market has the following production function : q= L^0.5K^0.5 The firm has the following info: K=25, price of capital &#8220;r&#8221;=4 going wage rate &#8220;w&#8221;=50 1) This function exhibits constant returns to scale, violate the law <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-55","post","type-post","status-publish","format-standard","hentry","category-economics"],"_links":{"self":[{"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/posts\/55","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/comments?post=55"}],"version-history":[{"count":0,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/posts\/55\/revisions"}],"wp:attachment":[{"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/media?parent=55"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/categories?post=55"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/tags?post=55"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}