Please share formula and how you got the answer. Thank you
Homework Answers
Answer : If the price of labor is $4 per unit, than profit maximisation combination of output wage rate = VMPL
Value of marginal product of labor = 2*$2 = $4
Therefore, 5 units of labor has been employed.
price of capital is $10 per unit. than profit maximisation capital level capital = VMPK
Value of marginal product of capital = 5*$2 =$10
Therefore, 4 units of capital has been employed.
price of land is $80 per unit , than profit maximisation Value of land= VMPL
Value of marginal product of land = 40*$2=$80
therefore , 4 unit of land has been employed
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Please share formula and how you got the answer. Thank
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Text Problem 5.1 The following...
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Explain the rule for determining the optimal resource use for a single resource or input and determine the optimal amount of labor, given that each output sells at $2 and labor is $26 per unit. Labor Output MP MRP MRC 0 0 *** *** *** 1 22 2 38 3 52 4 62 5 70 2. Explain the rule for determining the optimal use of a multiple resources when minimizing costs, then determine the least cost manner of producing 138...
Explain the rule for determining the optimal resource use for a single resource or input and...
Explain the rule for determining the optimal resource use for a single resource or input and determine the optimal amount of labor, given that each output sells at $2 and labor is $26 per unit. Labor Output MP MRP MRC 0 0 *** *** *** 1 22 2 38 3 52 4 62 5 70 2. Explain the rule for determining the optimal use of a multiple resources when minimizing costs, then determine the least cost manner of producing 138...
1. A firm faces the following total product curves depending on how much capital it employs. K=1 Unit Quantity of Total...
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**Please use numbers listed** Please answer 2-4, thank you in advance!! :) Sales, Production, Direct Materials...
**Please use numbers listed** Please answer 2-4, thank you in
advance!! :)
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In class A7 - Productivity and Costs (Chapter 11) 1. Calculate the Average Product and Marginal Product of the variable input Inputs No. of Average Marginal boats Product Product Labour of Draw the AP and MP curves of the variable input. Remember AP and MP are measured in units of output! Identify the max point of AP of Labour and MP of Labour (the points of diminishing returns for both curves). The diagram need not be to scale. 2. The...
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Please provide a clear path to how you got the answer, Thank you! Special Order Example...
Please provide a clear path to
how you got the answer, Thank you!
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Please Answer these Question in Box and show and you got the numbers. Thats the only...
Please Answer these Question in Box and show and you got the
numbers.
Thats the only information Provided.
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please answer all questions In details. Thank you A company requires 30,000 units of a product...
please answer all questions In details. Thank you
A company requires 30,000 units of a product in a single year. It takes $300 for them to place a single order of the product. If the product is carried in inventory, the carrying cost equals 196 of the price of the product on a single unit of the product held in inventory. The product costs $200 per unit and the company works for a total of 300 days in the year....
Please help explain how to do part b using the non calculus method. thank you. CONCEPTUAL...
Please help explain how to do part b using the non calculus method.
thank you.
CONCEPTUAL AND COMPUTATIONAL QUESTIONS L. A firm can manufacture a product according to the production function (LOI, LO2. LOS, LO6) 0 F(K, L) K34L 14 a. Calculate the average product of labor, AP, when the level of capital is fixed at 81 units and the firm uses 16 units of labor. How does the average product of labor change when the firm uses 256 units...
1. A firm faces the following total product curves depending on how much capital it employs. K=1 Unit Quantity of Total Labor Product 100 152 K=2 Units Quantity of Total Labor Product 1 123 1 187 Product WN oloAN K=3 Units Quantity of Total Labor 139 193 263 319 366 407 410 233 249 263 286 306 323 O a. For K=1, calculate the average product and marginal product of labor at each level of labor employed (from labor =...
**Please use numbers listed** Please answer 2-4, thank you in
advance!! :)
Sales, Production, Direct Materials Purchases, and Direct Labor Cost Budgets The budget director of Gourmet Grill Company requests estimates of sales, production, and other operating data from the various administrative units every month. Selected information concerning sales and production for July is summarized as follows: a. Estimated sales for July by sales territory: Maine: Backyard Chef 310 units at $700 per unit Master Chef 150 units at $1,200...
In class A7 - Productivity and Costs (Chapter 11) 1. Calculate the Average Product and Marginal Product of the variable input Inputs No. of Average Marginal boats Product Product Labour of Draw the AP and MP curves of the variable input. Remember AP and MP are measured in units of output! Identify the max point of AP of Labour and MP of Labour (the points of diminishing returns for both curves). The diagram need not be to scale. 2. The...
Please provide a clear path to
how you got the answer, Thank you!
Special Order Example #2 Garston Company produces a single model wind turbine and has an annual plant capacity of 3,000 units. Data concerning this product are given below: 2,500 units $ Annual sales at regular selling prices Manufacturing costs: Variable manufacturing cost per unit Fixed (annual) Selling and administrative expenses: Variable (sales commissions) Fixed (annual) 2,000 750,000 150 55,000 The company has received a special order for...
Please Answer these Question in Box and show and you got the
numbers.
Thats the only information Provided.
1. Apple Company provides the following data for the next three months: Jan 685 705 Feb 780 May 735 Budgeted production units Beginning Raw Materials inventory-lbs. Ending Finished Goods Inventory - units 160 Apple had decided that Raw Materials desired ending inventory should be 40% of the nex month's production needs. Each unit of production takes four pounds of raw materials. What...
please answer all questions In details. Thank you
A company requires 30,000 units of a product in a single year. It takes $300 for them to place a single order of the product. If the product is carried in inventory, the carrying cost equals 196 of the price of the product on a single unit of the product held in inventory. The product costs $200 per unit and the company works for a total of 300 days in the year....
Please help explain how to do part b using the non calculus method.
thank you.
CONCEPTUAL AND COMPUTATIONAL QUESTIONS L. A firm can manufacture a product according to the production function (LOI, LO2. LOS, LO6) 0 F(K, L) K34L 14 a. Calculate the average product of labor, AP, when the level of capital is fixed at 81 units and the firm uses 16 units of labor. How does the average product of labor change when the firm uses 256 units...
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