Calculate cost of a unit of labor, Managerial Economics

Suppose a firm's budget were large enough to employ 100 units of either labor or capital, the cost of a unit of labor being the same as a unit of capital. The production function is X = KL. Given that output must be at least 20, what is the maximum number of people the firm could employ?

Posted Date: 4/1/2013 6:11:19 AM | Location : United States







Related Discussions:- Calculate cost of a unit of labor, Assignment Help, Ask Question on Calculate cost of a unit of labor, Get Answer, Expert's Help, Calculate cost of a unit of labor Discussions

Write discussion on Calculate cost of a unit of labor
Your posts are moderated
Related Questions
what is traditional theory of cost/explain with suitable diagram

NATIONAL INCOME AND STANDARDS OF LIVING Standard of living refers to the quantity of goods and services enjoyed by a person. These goods may be provided publicly, such as in t

Open Market Operations Open market operations is another traditional or quantitative weapon at the disposal of central bank to control the volume of aggregate bank credit in t

Buffer stocks and stabilization funds In this case the government buys up part of the supply when output is excessive, stores this surplus, and resells it to consumers in time

PROPORTIONAL TAX Is where whatever the size of income, the same rate or same percentage is charged.  Examples are commodity taxes like customs, excise duties and sales tax.

discuss the significance of managerial economics in regards to business strategies employed by business entities currently operating in the global economy

Q. Describe the gift exchange model of reciprocity? George Akerlof (1982) develops a gift exchange model of reciprocity in that employers offer wages unrelated to variations in

Variable Costs (VC) These are costs, which vary with the level of production.  The higher the level of production, the higher will be the variable costs.  They are associated

Determine the Managerial economics techniques Though the most frequent applications of these techniques are as below:  Risk analysis: Numerous models are used to quantif

Explain the theory of production, Managerial Economics Explain the Theory of Production