User Account

All Pages

Calculate the amount of labor the firm

Assignment Help Business Economics
Reference no: EM132518399

Suppose that a firm had a production function given by: q=L^0.25*K^0.75. The wage rate (w) is $4 and the rental rate (r) is $20. Calculate the amount of labor the firm would hire when it produces 450 units of output in a cost-minimizing way

Reference no: EM132518399

Questions Cloud

Determining the economy gdp for 2015 : Couches, Inc. produced 20 couches during 2015 and sold each one during that year for $2,600. What was the economy's GDP for 2015?
Organ leader and decision making : Discussed the concepts of developing and delivering on the IT value proposition. Discuss the five principles for delivering value
Write a brief summary of the BBQfun operational environment : Write a brief summary of the BBQfun operational environment - - An outline of the BBQfun policies and procedures that directly relate to the operational plan
Show the treatment of interest under as : ? 9,10,000 was charged by the bank for the financial year ending 31-30-2011. Show the treatment of interest under AS 16 and also explain the nature of Assets
Calculate the amount of labor the firm : Calculate the amount of labor the firm would hire when it produces 450 units of output in a cost-minimizing way
What were some of the good design points : What were some of the good design points and bad design points of the vizzes & demos? What sorts of information and metrics were shown on the vizzes & demos?
What is the estimated cost of the ending inventory : What is the estimated cost of the ending inventory ? The ABC Department Store uses the conventional retail inventory method.
Strengths and weakness at uncovering the real price : There are many types of auctions, each with strengths and weakness at uncovering the real price or value of an item. Compare and contrast how each of the follow
How come liking a picture of curly fries could be indicative : "How come liking a picture of curly fries could be the indicative of how smart you are?" First, try to come up with your own predictions and post it here.

Reviews

Write a Review

Business Economics Questions & Answers

  What is the price elasticity of supply

Suppose that in a week the price of Greek yogurt increases from $5.00/lb to $5.25/lb. At the same time, the quantity of Greek yogurt supplied increases from 100,000 lbs to 125,000 lbs. What is the price elasticity of supply for Greek yogurt?

  Monopolies and new entrants

Snack food venders and beer distributors earn some monopoly profits in their local markets but see them slowly erode from various new substitutes.

  Relationship between net income and cashflow from operating

What is the relationship between net income and cashflow from operating, investing, and financing activities for a company.

  Stories about the accuracy of wikipedia

What is the lesson learned from the stories about the accuracy of Wikipedia?

  An increase in the minimum wage

An increase in the minimum wage

  What would be the long run result

It doesn't want to rise tax but instead wants to print $100 currency to balance its budget. What would be the long run result?

  Illustrate what can you say about the change in equilibrium

Illustrate what can you say about the change in equilibrium price and quantity.

  Maintaining constant growth in the money supply

For each of the following statements, specify whether a Keynesian, a monetarist, or a classical economist is most likely to support it, and explain in 1-2 sentences why.  “During a recession, government spending should be minimized. The Federal Reser..

  How much is due to the substitution effect

Johnny is an impoverished college student who works at a bakery full time while attending school. After spending money on rent, tuition, and books, he only has $80/month left over to spend on food. The good thing about his job is that he gets to take..

  The labor-force participation rate

Consider the economy whose data appear in the table below. Working-age population 100,000 Labor force 80,000 Unemployed 12,000 Instructions: The unemployment rate is %. The labor-force participation rate is %.

  Tax-free yearly contribution to retirement fund

Suppose in the first five years of working for ABC Corporation Emily earns $50,000 a year after taxes, but ABC makes no yearly contribution toward a retirement plan for her. However, after five years ABC offers Emily a choice of receiving a $5,000 af..

  Determine the equilibrium price and quantity in market

You have just graduated and moved to this city; as a new MBA and an entrepreneur, you are considering entering the market for this product.

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd