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

Cost optimization, Have preventive maintenance( PM) in addition to breakdow...

Have preventive maintenance( PM) in addition to breakdown maintenance ( BM) optimal combination of the two is required for total cost minimization profitable preventive maintenan

What is the importance of training and education, What is the importance of...

What is the importance of training and education? Importance of Training and Education: Education and training bring workers to a standard; here they can perform industr

Features of learning organizations, Problem 1 : (a) ‘New Public Manageme...

Problem 1 : (a) ‘New Public Management' is a set of loosely defined international doctrines that have affected almost all public sector organizations over the past 20 years. W

Write a short note on ethics in retailing, Question 1 Explain logistics ne...

Question 1 Explain logistics networking Question 2 Write a short note on ethics in retailing Question 3 Explain the concept of insurance Question 4 What are the rec

Controlling environmental causes, Controlling Environmental Causes: All th...

Controlling Environmental Causes: All the  environment  causes have something  to do with  machinery  and equipment  with the  things  one can see and  feel. A  good  layout  and

Business finance, Approaches to short-term financing problem?

Approaches to short-term financing problem?

Write the importance of edi, Question 1 What are the difficulties and or i...

Question 1 What are the difficulties and or issues of e-Commerce? Explain Question 2 What is Firewall? Explain how it works as a packet filters Question 3 What are the methods

#title.business ethics., coca cola textbook.pdf 5653K View Download Eas...

coca cola textbook.pdf 5653K View Download Eassy and Project.png 138K View Download

Explain the steps involved in vogel approximation method, Q1. a. Explain th...

Q1. a. Explain the steps involved in Vogel's approximation method (VAM) of solving Transportation Problem. b. Solve the following transportation problem using Vogel's approximat

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