Homework Answers
Correct Answer:
B
Explanation:
The output curve of 1000 units is tangent upon the Isocost line of $2000. So, the least cost to produce 1000 units is $2000. Hence, correct answer is alternative B.
Add Answer to:
q=1,000 isoquant K, Chits of capital per hour $3.000 NsOCost 300 $2.000 SOKOS St.000 soost 100...
Isoquant: Q = 70 Tangency Isocost: TC = $? Figure 1. Isoquant and Isocost Price of L = $20; Price of K = ?; TC = ? 1...
Isoquant: Q = 70 Tangency Isocost: TC = $? Figure 1. Isoquant and Isocost Price of L = $20; Price of K = ?; TC = ? 14. Refer to Figure 1. The intercept of the isocost on k axis is 10 15 20 33.33 Refer to Figure 1. When total cost is minimized for producing Q=70, the relative productivity ratio of capital to laboris O 2/1 1/2 4/5 5/4 17. Refer to Figure 1. It is observed that the...
1. Consider the following production function: Q = f(K, L) = (K^1/2) (L^1/2) a) Place capital...
1. Consider the following production function: Q = f(K, L) = (K^1/2) (L^1/2) a) Place capital on the vertical axis and labor on the horizontal axis. Determine the marginal rate of technical substitution. b) Suppose that the price of capital is $10, 000, and the price of labor is $10, 000. What is the ratio of capital to labor that allows the firm to produce any given quantity of output as cheaply as possible. c) Suppose that the price of...
1. There is a furniture manufacturer using labor (L) and capital (K) to produce tables. Its production function is given by q= 10L^.75 K^.40. It pays a wage of $5 per hour and rents capital at a rate...
1. There is a furniture manufacturer using labor (L) and capital
(K) to produce tables. Its production function is given by q=
10L^.75 K^.40. It pays a
wage of $5 per hour and rents capital at a rate of $15. The firm
wants to find the cost-minimizing bundle of inputs to produce
10,000 tables. Assume K is on the y-axis in what
follows.
Write out the firm’s cost function.
Calculate the firm’s isocost equation.
What is the slope of the...
Question 2 A local fast food restaurant pays $5 per hour to workers and $50 per...
Question 2 A local fast food restaurant pays $5 per hour to workers and $50 per hour to rent ovens and other kitchen machinery. The restaurant uses seven hours of worker time per unit of machinery time. a. i. Determine whether the restaurant is minimizing its cost of production when the ratio of ii. Do you suggest any adjustment to improve the efficiency in the resource use? A cosmetic company produces skin cream bottles in its local store. The company...
The following graph illustrates various cost lines (aka isocost lines), where units of labor are measured...
The following graph illustrates various cost lines (aka isocost lines), where units of labor are measured along the horizontal axis, units of capital are measured along the vertical axis. Assume the wage rate is $20 per unit of labor and the rental rate is $100 per unit of capital. - Isocost Lines (ICL) Units of Capital ICL3 ICL ICL 500 1 000 1 500 Units of Labor 2 000 2 500 3 000 Figure Description: Units of labor are measured...
Outlane Limited’s overhead budget for a certain period is as follows: £000 Administration 100 Depreciation of...
Outlane Limited’s overhead budget for a certain period is as
follows: £000 Administration 100 Depreciation of machinery 80
Employee’s National insurance 10 Heating and lighting 15 Holiday
Pay 20 Indirect labour Cost 10 Insurance: Machine 40 Property 11
Machine maintenance 42 Power 230 Rent and rates 55 Supervision 50
The company has four departments: L, M, N and O. the following
information relates to each department. Department L M N O Total
number of employees 400 300 200 100 Number...
Sandy plc acquired 100 per cent of the issued capital of Beach plc on 30 June...
Sandy plc acquired 100 per cent of the issued capital of Beach
plc on 30 June 2014 for $900,000, when the statement of financial
position of Beach plc was as follows:
plc acquired 100 per cent of the issued capital of Beach plc on 30 June 2014 ment of financial position of Beach plc was as follows: LO 20.4 for £900,000, when the state Statement of financial position of Beach plc as at 30 June 2014 (working sheet) £000 £000...
Problem 1: Isoquant, Isocost Cost Minimizing Approach to Factor Selection: Suppose that as part of the...
Problem 1: Isoquant, Isocost Cost Minimizing Approach to Factor Selection: Suppose that as part of the UNCCCC Paris Agreement Green New Deal Plan to rapidly reduce Greenhouse Gas Emissions (GHGs) and other local air pollutants, suppose the elected City Council of the City of K'jipuktuk (Halifax) puts into place a low GHG transport system. As part of the plan, K'jipuktuk Transit, has been electrifying and increasing the size of the city's Public Transit System. So, far to this end, suppose...
Predatory Pricing Which of the followings is not the purpose of predatory pricing? A To drive...
Predatory Pricing Which of the followings is not the purpose of predatory pricing? A To drive competitors out of a market B To prevent entry by potential rivals C To increase its own market power O D to increase output and lower prices Economies and Diseconomies of Scale When a firm gets so large that coordination and management of workers and other inputs becomes costly and difficult, it is experiencing which of the following? O A Diseconomies of scale O...
can you plz suggest some decsions from this projected year 12 performance. or write a report...
can you plz suggest some decsions from this projected year 12
performance. or write a report for this performance,
Projected Y12 Performance 6 Investor | Scoring Measures Year 12 Expectation EPS (eamings per share) $0.80 $3.00 ROE return on equity) 6.3% 22.0% Credit Rating B+ Image Rating Change Other Measures Year 12 from Y11 Net Revenues (3000) 514,623 -1.9% Net Profit (5000s) 15,986 -64.8% Ending Cash (5000s) 27.368 -10 679 G- EN WORKFORCE COMPENSATION & TRAINING Prior-Year Compensation and Productivity...
Isoquant: Q = 70 Tangency Isocost: TC = $? Figure 1. Isoquant and Isocost Price of L = $20; Price of K = ?; TC = ? 14. Refer to Figure 1. The intercept of the isocost on k axis is 10 15 20 33.33 Refer to Figure 1. When total cost is minimized for producing Q=70, the relative productivity ratio of capital to laboris O 2/1 1/2 4/5 5/4 17. Refer to Figure 1. It is observed that the...
1. There is a furniture manufacturer using labor (L) and capital
(K) to produce tables. Its production function is given by q=
10L^.75 K^.40. It pays a
wage of $5 per hour and rents capital at a rate of $15. The firm
wants to find the cost-minimizing bundle of inputs to produce
10,000 tables. Assume K is on the y-axis in what
follows.
Write out the firm’s cost function.
Calculate the firm’s isocost equation.
What is the slope of the...
Question 2 A local fast food restaurant pays $5 per hour to workers and $50 per hour to rent ovens and other kitchen machinery. The restaurant uses seven hours of worker time per unit of machinery time. a. i. Determine whether the restaurant is minimizing its cost of production when the ratio of ii. Do you suggest any adjustment to improve the efficiency in the resource use? A cosmetic company produces skin cream bottles in its local store. The company...
The following graph illustrates various cost lines (aka isocost lines), where units of labor are measured along the horizontal axis, units of capital are measured along the vertical axis. Assume the wage rate is $20 per unit of labor and the rental rate is $100 per unit of capital. - Isocost Lines (ICL) Units of Capital ICL3 ICL ICL 500 1 000 1 500 Units of Labor 2 000 2 500 3 000 Figure Description: Units of labor are measured...
Outlane Limited’s overhead budget for a certain period is as
follows: £000 Administration 100 Depreciation of machinery 80
Employee’s National insurance 10 Heating and lighting 15 Holiday
Pay 20 Indirect labour Cost 10 Insurance: Machine 40 Property 11
Machine maintenance 42 Power 230 Rent and rates 55 Supervision 50
The company has four departments: L, M, N and O. the following
information relates to each department. Department L M N O Total
number of employees 400 300 200 100 Number...
Sandy plc acquired 100 per cent of the issued capital of Beach
plc on 30 June 2014 for $900,000, when the statement of financial
position of Beach plc was as follows:
plc acquired 100 per cent of the issued capital of Beach plc on 30 June 2014 ment of financial position of Beach plc was as follows: LO 20.4 for £900,000, when the state Statement of financial position of Beach plc as at 30 June 2014 (working sheet) £000 £000...
Problem 1: Isoquant, Isocost Cost Minimizing Approach to Factor Selection: Suppose that as part of the UNCCCC Paris Agreement Green New Deal Plan to rapidly reduce Greenhouse Gas Emissions (GHGs) and other local air pollutants, suppose the elected City Council of the City of K'jipuktuk (Halifax) puts into place a low GHG transport system. As part of the plan, K'jipuktuk Transit, has been electrifying and increasing the size of the city's Public Transit System. So, far to this end, suppose...
Predatory Pricing Which of the followings is not the purpose of predatory pricing? A To drive competitors out of a market B To prevent entry by potential rivals C To increase its own market power O D to increase output and lower prices Economies and Diseconomies of Scale When a firm gets so large that coordination and management of workers and other inputs becomes costly and difficult, it is experiencing which of the following? O A Diseconomies of scale O...
can you plz suggest some decsions from this projected year 12
performance. or write a report for this performance,
Projected Y12 Performance 6 Investor | Scoring Measures Year 12 Expectation EPS (eamings per share) $0.80 $3.00 ROE return on equity) 6.3% 22.0% Credit Rating B+ Image Rating Change Other Measures Year 12 from Y11 Net Revenues (3000) 514,623 -1.9% Net Profit (5000s) 15,986 -64.8% Ending Cash (5000s) 27.368 -10 679 G- EN WORKFORCE COMPENSATION & TRAINING Prior-Year Compensation and Productivity...
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