User Account

All Pages

How many units of labor and capital does firm employ

Assignment Help Microeconomics
Reference no: EM13876951

A firm operates with the production function Q = 1.4K 0.4 L0.5.

(a) If the prices of labor and capital are $10 and $20, respectively, and the firm's allocates only $8,000 a day for production costs (net of fixed cost) how many units of output can the firm produce? (Use the substitution method).

(b) How many units of labor and capital does firm employ?

(c) If the price of the good is $35 per unit, what is the daily profit of this firm?

Reference no: EM13876951

Questions Cloud

What level of labor input does it drop to zero : A firm has the following short run production function Q = 45L2.5 - 4L3- Write the equations for the marginal and average product of labor.
What was the direct labor efficiency usage variance : The actual labor rate per hour for the month was $8.40. The company used a total of 980 labor-hours. What was the direct labor efficiency (usage) variance for the month?
How do factors or processes actually cause to obesity : list factors and processes that indicate this pattern, need at least 2. what is a process? how do factors/processes actually cause or contribute to obesity? how does obesity affect people in different parts of the world socially and economically
Perform a sensitivity analysis on the selling price : Expected Value (EV), should Business Fellow buy or not buy the Pullovers and every calculation should be with the minimum order.
How many units of labor and capital does firm employ : A firm operates with the production function Q = 1.4K 0.4 L0.5-If the prices of labor and capital are $10 and $20, respectively, and the firm's allocates only $8,000 a day for production costs (net of fixed cost) how many units of output can the fi..
Advantage and one disadvantage of hybridisation : Hybridisation has often been practised in horticulture and agriculture. Identify one example of hybridisation.  Explain one advantage and one disadvantage of hybridisation
What portion is due to a combination of selling price : What portion is due to a combination of selling price and costs (variable cost per unit and total fixed costs) being different from budgeted amounts?
What was the sales price variance for the year : Actual sales volume was 5 percent less than budget. What was the sales price variance for the year? Label this variance F (favorable) or U (unfavorable), as appropriate.
What impact did shortfall in volume have on profitability : Actual fixed costs were $46,000. With everything else held constant, what impact did the shortfall in volume have on profitability for the year?

Reviews

Write a Review

Microeconomics Questions & Answers

  Profit made on the stock at the end of one year

There are two stocks in the stock market, stock A and stock B. If bought today, each would cost $10. Market analysts have constructed the following table of joint outcomes, with associated joint probabilities. An outcome is defined as the profit made..

  What will be the average cost of producing the 40th watch

Suppose that the learning effect coefficient in the production of wrist watches is -0.2. If the average cost of producing the first watch is $100, what will be the average cost of producing the 40th watch?

  Which is better strategy for various countries and for

in the globalizing economy of the late 20th and early 21st century liberalized trade has been sought by way of regional

  314 million people living in the united states

314 million people living in the United States.

  Apply economic principles to a business decision

Ability to apply economic principles to a business decision - Price Elasticity of Demand facing you in your scenario, including actual calculation of it using the midpoint formula.

  Teresa and sam need to decide which one will take of work

teresa and sam need to decide which one will take of work to dig holes. teresa is faster and can do it in 30 min but

  Students often confuse a change or shift in demand

Students often confuse a change or shift in demand with a change in the quantity demanded.  Briefly describe the difference between the two.  If you can, also provide an example.

  Dscribe are monopolies always bad

Write your individual answers to the questions listed above together using a minimum of 300 words in essay format in APA style. use APA template in Doc Sharing, using correct economic terms covered in the discussions.

  Describe if free trade can ever be fair justify the

many americans feel that their jobs at home should be protected and that free trade should be limited. however global

  What factors can contribute to unemployment

What factors can contribute to unemployment and how can technology lead to greater unemployment, or is it a benefit to the economy?

  The production function

The production function

  Treasury security carries a 3 annual interest rate find

if the expected default rate on a particular mortgage backed security is 4 per year and the corresponding treasury

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