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
Increase in demand SS is the supply curve and D 1 D 1 the initial demand curve shifts to the right, to position D 2 D 2 .  P 1 is the initial equilibrium price and q 1

Problem 1: All economies of the world can be said to be ‘mixed', to a greater or lesser degree, in that there is no economy where there is no state activity and no economy wher

Measurement of Inflation The rate of inflation is measured using the Retail Price Index.  A retail Price Index aims to measure the change in the average price of a basket of g

Consumer Demand is how much of something that consumers are wanting. A company requires to know the consumer demand so they know how much of a product to build.

COSTS OF UNEMPLOMENT AND INFLATION   In  an  economy  both  unemployment  and  inflation  have  adverse effects  and policy makers  formulate policy instruments to contain both

In the short-run the firm can't modify or change overhead factors like equipment, plant and scale of its organisation. In the short-run output can be decreased or increased by chan

Ann owns a lawn-mowing company. She has 400 lawns she requires to cut every week. Her weekly revenue from these 400 lawns is $20,000. Given an 18-inch-deck push mower, a laborer ca

In the national income analysis, investment refers to the value of than part of the aggregate output for any given time period which takes the form of construction of new structure

In the long run, because of the assumption of free entry and exit of the firms, it's not possible for the firms to make super-normal profits nor it is possible for them to incur lo

a critique of the relevance of managerial economics