User Account

All Pages

Determine the profit maximizing quantity of labor

Assignment Help Microeconomics
Reference no: EM13964567

Production function for a competitive firm is Q = K2/3 L1/2. The firm sells its product at $100 in a competitive market and can hire labor at a constant rate of wage of $50 per unit of time. Capital is fixed at 8,000 units. Determine the profit maximizing quantity of labor (L).

Reference no: EM13964567

Questions Cloud

How much will the firm produce at the market price : Find the equation for the ATC. Is it U-shaped? A simple yes/no is not enough. Use math. Find the shut-down price. How much will the firm produce at the market price of $53.4?
Calculate the resonant frequency : Calculate the total impedance Z for above circuit for ω= 2Π525 rad/sec ( f = 525 hz). For the bove mentioned series RCL circuit, if V = 120cos(2Π525t). Given Vo =120 volt, what is the value of Io = Vo/Z ?
What is the total cost of producing hundred units of output : What input combination should it choose to minimize its total cost given that w = r = $10? What is the total cost of producing 100 units of output?
Determine the heat supplied to the sir in the heat exchanger : Assuming the air in the heat exchanger acts as a heat sink having an average temperature of 25°C, determine the minimum power supplied to the heat pump, in kW
Determine the profit maximizing quantity of labor : The firm sells its product at $100 in a competitive market and can hire labor at a constant rate of wage of $50 per unit of time. Capital is fixed at 8,000 units. Determine the profit maximizing quantity of labor (L).
Implications of ppp : Today's spot rate of the Mexican peso is $.10. Assume that purchasing power parity holds. The U.S. inflation rate over this year is expected to be 7%, while the Mexican inflation over this year is expected to be 3%. Wake Forest Co. plans to import..
What is the social security retirement system : What is the Social Security retirement system. The percent of total health care costs in the United States paid for by governments is approximately.
Will you agree or disagree to patent this invention : As a patent agent, an inventor comes to you claiming that he has invented a self-powered engine that requires no fuel to run.
Find the speed of the wave along the string : Suppose you place a speaker in front the open end of a tube which is closed at the other end, and vary the frequency of a pure sound (sine wave) produced by the speaker. You find that there are resonances at 300 Hz and 500 Hz, among many others.

Reviews

Write a Review

Microeconomics Questions & Answers

  Calculate the elasticity of demand between the prices

What is the new profit maximizing output - Explain in terms of elasticity

  Suppose that starplex decides to implement third degree

Suppose that Starplex decides to implement third degree price dis-crimination. How many tickets w ll be purchased by college students? What price should Starplex charge college students? [Hint: carry youranswer out to two places past the decimal

  1 two individuals fred and helen in an economy with no

1. two individuals fred and helen in an economy with no production each have the utility function u 10xy. prices of

  What is the least-cost combination of labour and capital

What is the least-cost combination of labour and capital to employ in producing 80 units of output? Explain

  Describe what would be the likely outcomes in the economy

Describe what would be the likely outcomes in the economy.  Use the appropriate tools of analysis, such as aggregate demand and aggregate supply where appropriate, to justify and explain your answer.

  What is the estimated effect of str on testscr

What is the probability that all the population slope coefficients are actually zero, but the coefficients we estimated are different from zero due merely to random sampling variability In other words, what is the probability that the R2 is actual..

  At similar rationale seemed to be at work

I will be looking to see if you have mastered the concepts of consumer and producer surplus 1. Assume that you were ready to buy a custom tailored dress (or men's suit) and you are prepared to pay up to $200 for it. Also assume that the tailor is pre..

  Cost of aluminium utilized by soft drinks companies increase

Suppose that the cost of aluminium utilized by soft drinks companies increases.

  Reducing total remuneration costs

Suppose you were the manager for this business and charged with reducing total remuneration costs to $24,000,000. What category or categories would you cut? Why? Need to provide the equation(s).

  Firms price-earnings ratio

Question 1: The firm's price-earnings (P/E) ratio is influenced by its A. capital structure B. earnings volatility C. sales, profit margins, and earnings D. all of these

  The government will generate economic growth.

Explain why the Tea Party argument as to shrinking the government will generate economic growth.

  What happens to money supply interest rates and economy if

what happens to the money supply interest rates and the economy if the federal reserve is a net seller of government

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd