Managerial economics, economics, Microeconomics

A company a product using labor (L) and raw material (R) with Q = 80L^0.2 R^0.8. If labor costs $20 per hour and raw material $40 per unit, what is the optimal combination (least cost) of labor and raw material if the company wants to produce 1602 units of output? [The answers are may not be round numbers. You can round to 1 decimal point]
Posted Date: 2/12/2012 1:43:08 PM | Location : United States







Related Discussions:- Managerial economics, economics, Assignment Help, Ask Question on Managerial economics, economics, Get Answer, Expert's Help, Managerial economics, economics Discussions

Write discussion on Managerial economics, economics
Your posts are moderated
Related Questions
If demand goes down what happens to the equilibrium?

Insurance - Risk averse are willing to pay to keep away from risk. - If cost of insurance equals expected loss, risk averse people will buy sufficient insurance to totally r


what are the forecasting techniques

importance of monopolistc competition in Indian market.

Determinants of Private Demand - Regional Disparity There is imbalance in distribution of facilities. There are over 600000 villages in India. And there were over 8737 degree

If the quantity demanded of Pepsi Cola goes up, and its supply enhances what will occur in the market for Pepsi?

Demand for Risky Assets *  Assets - Something which provides a flow of money or services to its owner. -  The flow of money or services can be explicit or implicit . *

a monopolist faces a demand curve Qd- 120-2p and has costs given by C(Q)=20Q+100 (marginal cost is constant at $20) a. What is the optimal Price and Quantity for this monopolist?

What happens when oil eventually runs out?? can''t we just pay doctors and nurses more money?? The unemployed should get off their backsides and get a job??