What is the total cost of producing hundred units of output

Assignment Help Microeconomics
Reference no: EM13964569

Suppose you are given the following production function Q = K1/3 L1/3. Given that the firm wishes to produce 100 units of output, what input combination should it choose to minimize its total cost given that w = r = $10? What is the total cost of producing 100 units of output?

Reference no: EM13964569

Questions Cloud

Formula and the old one are equally effective : A company's sold antacid formula provided relief for 70% of the people who used it. The company's tests a new formula to see if it is better and gets a P-value of 0.27. Is it reasonable to conclude that the new formula and the old one are equally ..
Determine the average temperature rise of the remains of car : determine the average temperature rise of the remains of the cars
How much will the firm produce at the market price : Find the equation for the ATC. Is it U-shaped? A simple yes/no is not enough. Use math. Find the shut-down price. How much will the firm produce at the market price of $53.4?
Calculate the resonant frequency : Calculate the total impedance Z for above circuit for ω= 2Π525 rad/sec ( f = 525 hz). For the bove mentioned series RCL circuit, if V = 120cos(2Π525t). Given Vo =120 volt, what is the value of Io = Vo/Z ?
What is the total cost of producing hundred units of output : What input combination should it choose to minimize its total cost given that w = r = $10? What is the total cost of producing 100 units of output?
Determine the heat supplied to the sir in the heat exchanger : Assuming the air in the heat exchanger acts as a heat sink having an average temperature of 25°C, determine the minimum power supplied to the heat pump, in kW
Determine the profit maximizing quantity of labor : The firm sells its product at $100 in a competitive market and can hire labor at a constant rate of wage of $50 per unit of time. Capital is fixed at 8,000 units. Determine the profit maximizing quantity of labor (L).
Implications of ppp : Today's spot rate of the Mexican peso is $.10. Assume that purchasing power parity holds. The U.S. inflation rate over this year is expected to be 7%, while the Mexican inflation over this year is expected to be 3%. Wake Forest Co. plans to import..
What is the social security retirement system : What is the Social Security retirement system. The percent of total health care costs in the United States paid for by governments is approximately.

Reviews

Write a Review

Microeconomics Questions & Answers

  Verify that the npv of the power plant

Using the annuity formula without Excel, verify that the NPV of the power plant is $11,756.21 - with a discount rate of 5% verify that the LCOE is $85.66 per MWh.

  Relationship between the value and price of a stock

The market for health care is characterized by which of the following - relationship between the value and price of a stock

  Describe a skimming price and a penetration price

What price would you bid if you must win the project - What price would you bid if you want to maximize the expected value of the contribution from this contract?

  Production points along a production possibilities curve

Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 ..

  Describe the opportunity cost of getting your degree

Describe the opportunity cost of getting your degree by analyzing what steps and economic factors a potential student should make when choosing to pursue an education. Given your answer, is getting a formal college education worth your opportunity co..

  Comparison of the creative processes

Could they have done anything differently? How did their work fit into the existing framework of understanding in their field, and how did it advance further understanding of the field?

  Find regions where firm 2 does and does not compete

Display a diagram in (c1,c2) space that indicates the cost combinations for which firm 2 will choose not to compete. Interpret the equation describing the boundary between the regions where firm 2 does and does not compete.

  Monopoly power are more focused on market share-size

Some firms with monopoly power are more focused on market share, size and influence in the economy. This is particularly true if there is a tendency for ownership (stockholders) and control (managers) to be separated. These firms sometimes are willin..

  Fxed and variable costs of renting a car

Fxed and variable costs of renting a car for a week at Chicago's O'Hare Airport - How much are the ?xed and variable costs of renting a car for a week at Chicago's O'Hare Airport?

  Economic analysis of events

Levi Strauss successfully markets Levi jeans on the History channel as a way for older men to stay young forever. What will happen in the jeans market ceteris paribus?

  Give the cost-benefit analysis for the company which has to

give the cost-benefit analysis for the company which has to decide whether to hire more staff or hire temporary workers

  Whats the potential danger of maintaining a rigid interest

Those who advocate that the Fed target monetary aggregates, usually argue that the Fed should not alter its monetary targets in response to temporary changes in macroeconomic conditions, yet those who advocate interest rate targeting never recomme..

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