Swim coach Rob teaches athletes how to swim freestyle while keeping their hips raised. Let q represent the number of swimmers that learn the technique, and let h represent the number of hours of individual training Rob provides in which the swimmers focus on their hips. The team's production function is 0.10 Rob is paid $160 per hour of practice What is the cost function, C (q) ? The cost function is C) 160q10 (Properly format your expression using the tools in the palette. Hover over tools to see keyboard shortcuts. E. g, a superscript can be created with the character.) What is the marginal cost function m (q) ? M (a) 1600q9 (Properly format your expression using the tools in the palette) Now suppose that Rob has learned a new method to teach swimmers how to swim with their hips raised. His new team production function is qh0 80 What is the cost function? C () Properly format your expression using the tools in the palette.)

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Adriana

10 October, 22:54

Swim coach Rob teaches athletes how to swim freestyle while keeping their hips raised. Let q represent the number of swimmers that learn the technique, and let h represent the number of hours of individual training Rob provides in which the swimmers focus on their hips. The team's production function is 0.10 Rob is paid $160 per hour of practice What is the cost function, C (q) ? The cost function is C) 160q10 (Properly format your expression using the tools in the palette. Hover over tools to see keyboard shortcuts. E. g, a superscript can be created with the character.) What is the marginal cost function m (q) ? M (a) 1600q9 (Properly format your expression using the tools in the palette) Now suppose that Rob has learned a new method to teach swimmers how to swim with their hips raised. His new team production function is qh0 80 What is the cost function? C () Properly format your expression using the tools in the palette.)

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Katrina Novak · Answer 1

q = h0.80

Raising both sides to (1/0.8) - th power,

q1.25 = h

Total cost, C (q) = $160 x h

New cost function: C (q) ($) = 160 x q1.25

New M (q) = dC (q) / dq = 160 x 1.25 x q0.25 = 200 x q0.25