3. Dan needs to hire workers and use ovens to cook and serve pizzas. The number...

Question

Question

3. Dan needs to hire workers and use ovens to cook and serve pizzas. The number of ovens Dan owns is fixed to be 4. The short

business economics

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

con LUT ovens oren Production function ? F(2)=4051 ; ovens W)- 4. cost of labor (w= $10/hr ovens (V24 cost of oren s= $40

Add a comment

Answer 2

Similar Homework Help Questions

3. Dan needs to hire workers and use ovens to cook and serve pizzas. The number...

3. Dan needs to hire workers and use ovens to cook and serve pizzas. The number of ovens Dan owns is fixed to be 4. The short-run production function is F(L) = 40VL, where Lis the total number of hours of labor input per day. Suppose the cost of labor is $10 per hour and the cost of each oven is $40 per day. (a) (5 points) What is the total number of hours of labor needed to produce pizzas!...
4. Dan needs to hire workers and use oven hours to cook and serve para. The...

4. Dan needs to hire workers and use oven hours to cook and serve para. The production function is F(LK) 60VLVK, where Lis the hour of labor input and K is the hour of oven usage. Note that the marginal product of labor is 30VK/VL and the marginal product of capital is 30VL/VK. Suppose the cost of labor is given to be $10 per hour and the cost of capital is $10 per hour. In the long run, all inputs...
Poornima's Performance Pizza is a small restaurant in Denver that sells gluten-free pizzas. Poornima's very tiny kitchen has barely enough room for the two ovens in which her workers bake the pizzas

2. Inputs and outputs Poornima's Performance Pizza is a small restaurant in Denver that sells gluten-free pizzas. Poornima's very tiny kitchen has barely enough room for the two ovens in which her workers bake the pizzas. Poornima signed a lease obligating her to pay the rent for the two ovens for the next year. Because of this, and because Poornima's kitchen cannot fit more than two ovens, Poornima cannot change the number of ovens she uses in her production of pizzas...

Antonio's Performance Pizza is a small restaurant in San Diego that sells gluten-free pizzas. Antonio's very tiny kitchen has barely enough room for the three ovens in which his workers bake the pizzas.

2. Inputs and outputs Antonio's Performance Pizza is a small restaurant in San Diego that sells gluten-free pizzas. Antonio's very tiny kitchen has barely enough room for the three ovens in which his workers bake the pizzas. Antonio signed a lease obligating him to pay the rent for the three ovens for the next year. Because of this, and because Antonio's kitchen cannot fit more than three ovens, Antonio cannot change the number of ovens he uses in his production of...
Hubert's Performance Pizza is a small restaurant in San Diego that sells gluten-free pizzas. Hubert's very...

Hubert's Performance Pizza is a small restaurant in San Diego that sells gluten-free pizzas. Hubert's very tiny kitchen has barely enough room for the three ovens in which his workers bake the pizzas. Hubert signed a lease obligating him to pay the rent for the three ovens for the next year. Because of this, and because Hubert's kitchen cannot fit more than three ovens, Hubert cannot change the number of ovens he uses in his production of pizzas in the...
Kyoko's Performance Pizza is a small restaurant in Dallas that sells gluten-free pizzas. Kyoko's very tiny...

Kyoko's Performance Pizza is a small restaurant in Dallas that sells gluten-free pizzas. Kyoko's very tiny kitchen has barely enough room for the two ovens in which her workers bake the pizzas. Kyoko signed a lease obligating her to pay the rent for the two ovens for the next year. Because of this, and because Kyoko's kitchen cannot fit more than two ovens, Kyoko cannot change the number of ovens she uses in her production of pizzas in the short...

Sam's Performance Pizza is a small restaurant in San Diego that sells gluten-free pizzas. Sam's very...

Sam's Performance Pizza is a small restaurant in San Diego that sells gluten-free pizzas. Sam's very tiny kitchen has barely enough room for the two ovens in which his workers bake the pizzas. Sam signed a lease obligating him to pay the rent for the two ovens for the next year. Because of this, and because Sam's kitchen cannot fit more than two ovens, Sam cannot change the number of ovens he uses in his production of pizzas in the...
Inputs and outputs Charles's Performance Pizza is a small restaurant in Philadelphia that sells gluten-free pizzas....

Inputs and outputs Charles's Performance Pizza is a small restaurant in Philadelphia that sells gluten-free pizzas. Charles's very tiny kitchen has barely enough room for the three ovens in which his workers bake the pizzas. Charles signed a lease obligating him to pay the rent for the three ovens for the next year. Because of this, and because Charles's kitchen cannot fit more than three ovens, Charles cannot change the number of ovens he uses in his production of pizzas...
Consider a pizza restaurant where ovens are a fixed input and workers are variable inputs. Assume...

Consider a pizza restaurant where ovens are a fixed input and workers are variable inputs. Assume labor is the only variable cost for the business. The pizza restaurant has a fixed cost of $100 per day and pays each worker $150 per day. Fill in the blanks to complete the Marginal Physical Product of Labor column for each worker and the Marginal Cost column at each level of labor. (Hint: Marginal cost is the change in total cost divided by...

Jake's Performance Pizza is a small restaurant in New York City that sells gluten-free pizzas. Jake's...

Jake's Performance Pizza is a small restaurant in New York City that sells gluten-free pizzas. Jake's very tiny kitchen has barely enough room for the four ovens in which his workers bake the pizzas. Jake signed a lease obligating him to pay the rent for the four ovens for the next year. Because of this, and because Jake's kitchen cannot fit more than four ovens, Jake cannot change the number of ovens he uses in his production of pizzas in...

3. Dan needs to hire workers and use ovens to cook and serve pizzas. The number...

Homework Answers