production function, Business 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: 9/19/2012 4:25:38 PM | Location : United States







Related Discussions:- production function, Assignment Help, Ask Question on production function, Get Answer, Expert's Help, production function Discussions

Write discussion on production function
Your posts are moderated
Related Questions
what are the types of technical economies?

(a) Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the comm

How is the equality of income distribution measured? The Gini coefficient is a statistical type measure of income distribution. This Gini coefficient is: • 0, which impl

explain major decisions in successful implementation of sales promotion programs

Why do you assume there are an increasing number of organisations related along with the development of quality practices for IS development? Information systems frequently rep

Question: (a) Discuss the conditions necessary to achieve Pareto Efficiency. (b) Competitive markets are generally assumed to lead to a Pareto optimal allocation of resource


The Wallpaper Shop, Inc., is a rapidly growing chain of wallpaper shops that caters to the do-it-yourself home remodeling market. During the past year, 15 stores were operated in s

What is mean by stabilization policy? Taming the Business Cycle: To decrease the severity of recessions policy efforts undertaken are termed as stabilization policy. a

Foundations in Business and Commerce 1. What is logistics networking? 2. Write a short note on ethics in retailing. 3. What is the concept of insurance? 4. Describ