Draw the isoquants for this production function

Assignment Help Business Economics
Reference no: EM13853451

The production function at Ginko's Copy Shop is q = 1000 x min(L, 3K), where q is the number of copies per hour, L is the number of workers, and K is the number of copy machines. As an example, if L = 4 and K = 1, then the minimum of L and 3K, min(L, 3K) = 3, and q = 3,000.

A) Draw the isoquants for this production function.

B) Draw the total product, average product, and marginal product of labor curves for this production function for some fixed level of capital.

Reference no: EM13853451

Questions Cloud

According to the bureau of economic analysis : According to the Bureau of Economic Analysis, during the recession of 2007-2009 household saving as a fraction of disposable personal income increased from a low of just over 1 percent in the first quarter of 2008 to 5 percent in the second quarter o..
The initial hypothesis supported or refuted? explain. : Was the initial hypothesis supported or refuted? Explain.
Write about online gaming prototypes : Write about online gaming prototypes that can be used and types of online ventures that may be profitable and how it will help and grow Wire's online business ventures. The paper need to be written in a fashion in which it addresses the company v..
Rental rate of capital and marginal productivity of labor : According to The Wall Street Journal, Mitsubishi Motors recently announced a major restructuring plan in an attempt to reverse declining global sales. Suppose that as part of the restructuring plan Mitsubishi conducts an analysis of how labor and cap..
Draw the isoquants for this production function : The production function at Ginko's Copy Shop is q = 1000 x min(L, 3K), where q is the number of copies per hour, L is the number of workers, and K is the number of copy machines. As an example, if L = 4 and K = 1, then the minimum of L and 3K, min(L,..
Write a program to calculate the trajectory of a cannon ball : Write a program to calculate the trajectory of a cannon ball (we use a watermelon). The program must ask the user for the initial velocity and initial trajectory angle then ask the user what they want to calculate
Trusted computer system evaluation criteria : How well did the Common Criteria (CC) address these four problems of TCSEC - relevance and correctness of content, clarity and logical flow, spelling, grammar, and proper citations/bibliography.
Using an annualized equivalent cost analysis : Machine A costs $20,000, lasts 3 years and has a salvage value S of $3,000. Machine B costs $12,000, lasts 2 years and has a salvage value of $2,000. The machines can be purchased at the same price with the same salvage value in the future, and are n..
How much the workers in risker job should should get paid : Farm workers in Oaks Farmville face a 1/198 probability of death at work and each of them receives a yearly wage of $61,000. Farm workers in Valley Farm face a 1/54 of death at work. Assume that both kinds of job require the same level of skills, eff..

Reviews

Write a Review

Business Economics Questions & Answers

  Number of tickets sold decreases

Illustrate what is the elasticity of demand if you raise the price of your airline's tickets by 6% also the number of tickets sold decreases.

  Determined the point price elasticity of demand

determined the point price elasticity of demand at P=$3. What is the new point price elasticity if price is raised to P=$4.50? Comment on the change in elasticity

  Consumer tax burden is equal to the producer tax burden

Suppose that the pre-tax price of gasoline is $1 per gallon. A tax of $0.50 is imposed and is paid by consumers to the government. What must the gross price of gasoline be after the tax so that the consumer tax burden is equal to the producer tax bur..

  Was she calls her company distribution manager

Was she calls her company's distribution manager and requests a special delivery for her customer. Jenny is providing the important marketing function of.

  How would social class differences influence product lines

How would social class differences influence product lines and styles, advertising media selection, and the copy and communication style used in ads and payment methods.

  Considering small renewable energy project

Your group of rural cabin owners is considering a small renewable energy project that would average 100 kW of output year-round, with an expected lifetime of 20 years. The project has a capital cost of $280,000, and a salvage value of $30,000. The co..

  Q1 the supply is nerf balls qs -100000 8000p and the

q1. the supply is nerf balls qs -100000 8000p and the demand is qd 140000 2y - 7000p where q nerf balls per month

  The economy is operating beyond

The economy is operating beyond the full employment output level, thus producing rapid rise in prices of goods and services. The Fed is concerned about high inflation rates. The curb inflation, the Fed shifts to a more restrictive monetary policy by ..

  Short notes on business ethics

The environment and healthcare are very important aspects of our lives, as discussed in your textbook. However, it is still unclear whether corporations should focus on these as rights or as privileges.

  Q suppose that market demand for golf balls is described by

q. suppose that market demand for golf balls is described by q 90 - 3p where q is measured in kilos of balls. there

  Economists descriptive statements-propositions-predictions

Should one distinguish between economist’s descriptive statements, propositions, and predictions about the world, and their statements about what policies should be adopted?

  1nbspnbspnbspnbspnbsp suppose a monopolist manufacturer

1.nbspnbspnbspnbspnbsp suppose a monopolist manufacturer sells his products through a monopolist retailer.nbsp the

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd