Minimum cost, Business Management

Assignment Help:

Sid and Nancy both need to buy pens for school. The bookstore has only two types of pens:

Basic blue pens (B), which cost $.60 each.

Long-lasting green pens (G), which have twice as much ink as the blue pens, and cost $1.00 each.

Nancy needs the pens to draw multi-colored graphs in her Economics class. For Nancy, these two types of pens are perfect complements. The graphs Nancy must draw require the ink of two basic blue pens for every one long-lasting green pen, and her production function is: q = min(25B,50G). Nancy will need to draw 100 graphs.

Sid needs the pens to write essays in his English class. One essay requires the ink of one basic blue pen or ½ of a long-lasting pen, and ink color is irrelevant. So, for Sid, these two types of pens are perfect substitutes, and his production function is: q = B + 2G. Sid will need to write 10 essays.


Related Discussions:- Minimum cost

Practices of management.., HOW WILL YOU INFLUENCE PEOPLE TO STRIVE WILLINGL...

HOW WILL YOU INFLUENCE PEOPLE TO STRIVE WILLINGLY FOR GROUP OBJECTIVES IN YOUR ORGANISATION (TARGET BASED INDUSTRY ) APPLY YOUR INTERPERSONAL INFLUENCE THROUGH COMMUNICATION PROCES

E-marketing performance measures, Standardised measures for E-marketing per...

Standardised measures for E-marketing performance are both needed and necessary. The discussion of most of the researchers has centred on the following measures (beside the traditi

Business analysis using triple triangle framework, how to write a company a...

how to write a company analysis in light of the Triple triangle Framework?

Describe email usage at work, Describe Email usage at work a) Electron...

Describe Email usage at work a) Electronic mail (email) refers to the process of using telephone and computers lines as a mailing system for both external (internet) and inter

Explain about the technical skills of a successful manager, Explain about t...

Explain about the technical skills of a successful manager. Technical skill: Technical skill considers to the proficiency into handling processes, techniques and methods

Customer relationship management , describe your proposed detail process fl...

describe your proposed detail process flows for the following processes 1) questions related to bills 2) question related to moving to other addresses 3) question related to new /

Preparation of maintenance request, The maintenance report is simply a ...

The maintenance report is simply a document or various maintenance suggestion and recommendations given by the inspection report. The suggestion and recommendation s give

european union , a)  Talk about the significance of international trade to...

a)  Talk about the significance of international trade to UK business organisations b)  Examine the impact of global factors on UK business organisations c)  Detail the impac

Intermediaries, the negavtive effect intermediaries has on a business organ...

the negavtive effect intermediaries has on a business organisation

Prepare a business report with statistics of a company, You are a business ...

You are a business analyst working for a company called Combined XYZ Pty Ltd. You have been asked to prepare a business report with statistics in it for the managing director. He w

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