Cost parameter, Managerial Economics

Assignment Help:

A toy manufacturer makes output according to the production function:

2497_aa.png

where n is the number of workers employed by the firm, O is a technological parameter and g the workers' effort cost parameter. Assume the firm is profit maximizing.

a) Assume  the firm sells its products at a price p and pays its workers a fixed salary w. What is the optimal number of employees the firm should hire?

 

 


Related Discussions:- Cost parameter

Short run cost curve, Ajax has the following short run cost curve when tc=8...

Ajax has the following short run cost curve when tc=800000-5000Q+100Q2

Isoquant analysis, ISOQUANT ANALYSIS In the long run it is possible fo...

ISOQUANT ANALYSIS In the long run it is possible for a firm to produce the same output using different combinations of two factors of production.  For instance it the two fact

Explain the relationship between average and marginal cost, Question: i...

Question: i) If X and Y are different processes producing the same commodity and the joint total cost (TC) is given by: TC = X 2 + 2Y 2 - 3XY Using Lagrange Multiplier,

Term paper, I have a research paper that is due, my schedule is so full tha...

I have a research paper that is due, my schedule is so full that I need assistance due to overload are you interested in the research paper? course - managerial economics TEXT: Man

Wage determination, WAGE DETERMINATION, POLICY AND THEORIES Wages and ...

WAGE DETERMINATION, POLICY AND THEORIES Wages and salaries are rewards to labour as a factor of production of goods and services.  In ordinary speech a distinction is frequent

Oligopoly, Classification of oligipoly

Classification of oligipoly

Historical development of money, The Historical development of money F...

The Historical development of money For the early forms of money, the intrinsic value of the commodities provided the basis for general acceptability :  For instance, corn, s

Gatt & wto, introduction, evaluation,principle, activities concept behind G...

introduction, evaluation,principle, activities concept behind Gatt & wto

The law of diminishing returns (law of variable proportions), THE LAW OF DI...

THE LAW OF DIMINISHING RETURNS  (LAW OF VARIABLE PROPORTIONS) One of the most important and fundamental principles involved in economics called the law of diminishing return

Write Your Message!

Captcha
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