Consider the production function y= x^(1/2). However, assume that, for political reasons, it is not feasible...

Answer.

A. Inverse production function is x=y^2.

Differentiating withrespect to y.

dx/dy = 2y

Repeating the same

dx^2/dy^2 = 2 >0

Which shows that invesei produciopr function is convex.

B. Marginal product =1/2√x.

And average product = 1/√x.

C. VMP = 5/√x. (MP*P)

And VAP = 10/√x.

D.

For input function we maximize profit

p*y-wx

Differentiating with respect to x.

p/2√x-w=0

For p=10.

5/w= √x

So, x = 25/w^2.

As HOMEWORKLIB guidelkgui first four parts are answered.