Explain how the firm can produce the same output, Managerial Economics

A firm is employing 100 hours of labor and 50 tons of cement to produce 500 blocks. Labor costs Rs 4 per hour and cement costs Rs 12 per ton. For the quantities employed MPL = 3 and MPC = 2. Show this situation in an isoquant-isocost diagram. Explain and show in the diagram, how the firm can produce the same output at a lower total cost.

 

Posted Date: 4/1/2013 6:17:16 AM | Location : United States







Related Discussions:- Explain how the firm can produce the same output, Assignment Help, Ask Question on Explain how the firm can produce the same output, Get Answer, Expert's Help, Explain how the firm can produce the same output Discussions

Write discussion on Explain how the firm can produce the same output
Your posts are moderated
Related Questions
Electron Control, Inc., sells voltage regulators to other manufacturers, who then customize and distribute the products to quality assurance labs for their sensitive test equipment

Long-Term Policies One long term option of tackling balance of payments deficit is export promotion .  In the long run this is the best method of improving a balance of payme

Aside from the price of a product and its substitutes, another significant element of demand for a product is consumer's income. As noticed previously, relationship between demand

DIRECT TAXES A direct tax is one where the impact and incidence of the Tax is on the same person e.g. Income Tax, death or estate duty, corporation taxes and capital gains

Using the discounting principle calculate the present value of an annuity of five years at Rs. 500 payments made at the end of each of the next five years at 10% interest. stion..

TYPES OF UNEMPLOYMENT   A  person  can  be  either  in the labour force  or  not  in  the  labour  force  of  an economy. The person not  included  in  the  labour force includ


Hayek explaination Under a fractional reserves system, it is possible for the banking system to supply resources to entrepreneurs for investment in excess of resources that are

Hawtrey views about Trade Cycle Hawtrey views trade cycle as a purely monetary phenomenon. According to him, inventory cycles result from fluctuations caused in the desired rat

What market type does the company you work for operate under? What makes you think this? Do you think that this is the right market type for your company to operate in? Explain you