Where should you expand production

Assignment Help Business Economics
Reference no: EM13149515

You need to expand production, either in the US or in China. Currently, your average American workers produce 100 units per hour and Chinese workers produce only 16 units per hour. But your American workers will cost you $20 per hour and your Chinese workers cost you $3 per hour. a.Graph as much this information as possible as isocost and isoquant information. b.Where should you expand production? c.Looking ahead into the near future, you forecast that your American workers will cost you $25 per hour, but demand for labor in China will drive up costs per worker there to $5 per hour. How does this alter the isocost and isoquant graph? d.Given these forecasts, where should you expand production?

Reference no: EM13149515

Questions Cloud

What is depreciation in this year : Calculate GNP, GDP, and aggregate income. GDP = $ GNP = $ Aggregate income = $ b) What is depreciation in this year? Depreciation = $ c) What is NDP? NDP = $
Probability tree showing marginal-conditional probability : The central district students failed. Develop a probability tree showing all marginal, conditional and joint probabilities. Develop a joint probability table.
Alculate the correlation coefficient : alculate the correlation coefficient. If Hammer selects a pair of pants at random, what is the expected price? What is the variance of the price?
To what temperature (in oc) must the gas be heated : A cylinder of propane gas at 25oC has a volume of 32.0 liters. The pressure of the gas in the cylinder is 9 atm. To what temperature (in oC) must the gas be heated to increase the pressure by 2 atm? Assume ideal behavior
Where should you expand production : How does this alter the isocost and isoquant graph? Given these forecasts, where should you expand production?
Evidence of formation of panethnic identity : The term Hispanic is an umbrella terms for people from many different Spanish-speaking cultures in the Western Hemisphere. Although the grouping includes a wide range of cultures there is evidence of the formation of a panethnic identity. What do ..
What is total stockholders equity : On January 1, 2009 Gucci Brothers Inc. started the year with a $500,000 credit balance in retained earnings and $600,000 balance in capital stock. During 2009, the company earned net income of $100,000, declared a dividend of $15,000, and issued m..
Geologists can estimate the age of rocks by their uranium : Geologists can estimate the age of rocks by their uranium-238 content. The uranium is incorporated in the rock as it hardens and then decays with first-order kinetics and a half-life of 4.5 billion years
How many grams of no2 will be produced : how many grams of NO2 will be produced when 2.0 L of nitrogen at 840 mmHg and 24 C are completely reacted N2+2 O2-----2 NO2

Reviews

Write a Review

Business Economics Questions & Answers

  Suggests a methodology for recommending a solution

Draft a research proposal to identify the problem also suggests a methodology for recommending a solution.

  Elucidate the dividend yield for each of these four stock

Elucidate the dividend yield for each of these four stock. What is the expected capital gains yield. Discuss the relationship among the various return that you find for each of these stocks.

  Estimate the statement choices of your fellow students

Provide one quote and its context for both a positive and normative statement. Explain your choices. Estimate the statement choices of your fellow students.

  Acceptable return on the investments

hat drug is nearly through clinical trials, and is expected to produce an acceptable return on the investments that have been and will still need to be made in it.

  Loans market

Distinguish between the two types but knows the probabilities of each type. What would be the result in this market for loans.

  Calculate the marginal cost function

Calculate the marginal cost function. What is Chill man's profit-maximizing cost as well as output combination.

  Businesses create value by integrating the production

Explain how businesses create value by integrating the production and distribution of goods, services, and information.

  Elucidate how absolute and comparative advantage were used

Define absolute and comparative advantage in your own words. Elucidate how absolute and comparative advantage were used in your simulation.

  Explain how many computers will the monopolist sell

The graph also shows the marginal revenue curve faced by this firm. Hypothetical cost and revenue curves for a computer producer. Explain how many computers will the monopolist sell to maximize profits.

  What was zach economic profit - loss for the year

Also during that first year, the cookie business incurred costs that required outlays of money amounting to $9,000. What was Zach's economic profit (loss) for the year.

  Illustrate what must gross investments be in each economy

Assume capital depreciates at 10 percent a year. Economy A has 1.000 units of capital while Economy B has 2,000 units of capital. Illustrate what must Gross Investments be in Each Economy to keep capital stocks Constant.

  Illustrate what happens to consumer surplus into market

Assume bad wear in Florida ruins much of orange crop. Illustrate what happens to consumer surplus into market for oranges.

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