Explain how the firm can produce the same output, Managerial Economics

Assignment Help:

A firm is employing 100 hours of labor and 50 tons of cement to produce 500 blocks. Labor costs Rs 4 per hour and cement costs Rs 12 per ton. For the quantities employed MPL = 3 and MPC = 2. Show this situation in an isoquant-isocost diagram. Explain and show in the diagram, how the firm can produce the same output at a lower total cost.

 


Related Discussions:- Explain how the firm can produce the same output

Illustrate the sources of monopoly, Q. Illustrate the sources of monopoly? ...

Q. Illustrate the sources of monopoly? Merger for Large-scale Production: Thirdly monopoly undertaking can be a consequence of the necessity to produce on a large scale to de

Show the isoquant touching axis, Q. Show the Isoquant touching axis? I...

Q. Show the Isoquant touching axis? Isoquants do not intersect: By definition isoquants such as indifference curves, can never cut each other. If they cut each other it will

Resource allocation in a free enterprise, Resource allocation in a free ent...

Resource allocation in a free enterprise Although there are no central committees organising the allocation of resources, there is supposed to be no chaos but order. The major

Super-comfort pillow, In the country of Sleep-well, the inhabitants' main a...

In the country of Sleep-well, the inhabitants' main activity is... sleeping. Despite the loss of productivity that this entails, the country has a profuse and renowned production o

How pollution can make the market equilibrium inefficient, In regards to ai...

In regards to air pollution, use a diagram to show and explain how the existence of pollution can make the market equilibrium inefficient.

Can you explain about demand forecasting, Q. Can you explain about Demand F...

Q. Can you explain about Demand Forecasting? Demand forecasting involves forecasting and estimating the quantity of a service or product that consumers will buy in future. It a

Distinguish between positive and negative externalities, Question 1: 1 ...

Question 1: 1 Explain the importance of barriers to entry in the control of Monopoly rents. 2 Discuss the extent to which competition leads to market promotion? Questi

Determine the theory of exchange and price theory, Determine the Theory of...

Determine the Theory of Exchange and  Price Theory Theory of Exchange is commonly called Price Theory. Price determination under various types of market conditions comes under

Weston Industrial Manufacturing Products ("WIMP") has the ca, I would like ...

I would like to get the answer to the question - Weston Industrial Manufacturing Products ("WIMP") has the capability to produce a variety of industrial products, including a numb

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