Discuss how many people does the firm employ

Assignment Help Other Subject
Reference no: EM131698673

Company XYZ produces bottled water. Internal consultants estimate the company's production function to be Q = 300L2K, where Q is the number of bottles of water produced each week, L is the hours of labor per week, and K is the number of machine hours per week. Each machine can operate 100 hours a week. Labor costs $20/hour, and each machine costs $1000 per week.

Suppose the firm has 20 machines and is producing its current output using an optimal K/L ratio. How many people does the firm employ? Assume each person works 40 hours a week.

Recent technological advancements have caused machine prices to drop. Company XYZ can now lease each machine for $800 a week. How will this affect the optimal K/L ratio (i.e., will the optimal K/L ratio be smaller or larger)? Explain why.

Reference no: EM131698673

Questions Cloud

Acellular infectious agents in module : We discuss three acellular infectious agents in this module - viruses, prions and viroids. Infection by any one of these can have serious consequences.
Understanding the life cycles of parasites : Understanding the life cycles of parasites has helped the development of preventative measures against their routes of infection.
Structure and functions of immunoglobulin g : Describe the structure and functions of Immunoglobulin G (IgG) molecule. How would you test for the presence of IgG antibodies in a patient?
Assigning costs to activities in accounts payable department : Golding produces small engines for lawnmower producers. The accounts payable department at Golding has five clerks who process and pay supplier invoices.
Discuss how many people does the firm employ : Suppose the firm has 20 machines and is producing its current output using an optimal K/L ratio. How many people does the firm employ
What happens in the primary immune response : Would you describe what they are? What happens in the primary immune response? What happens in secondary immune response? Be specific.
Elaborate your definition of production operation management : Elaborate your own definition of production operations management, including manufacturing and service operations. Then, assess the implication of technology.
Discuss how to pursue technologies with virtual reality : Going back to one of our definitions of technology, what problem are we trying to solve. What are the risks associated with these technologies
Immune system of an immunocompromised : "The immune system of an immunocompromised lacks the ability to fight infections from organisms that are normally kept at bay by a competent immune system."

Reviews

Write a Review

Other Subject Questions & Answers

  Collective name for island group

We drive through Rockhampton and make a stop in Airlie Beach, the mainland gateway to a group of islands that is one of the most popular holiday destinations in Australia. What is the collective name for this island group?

  Define different perspectives of academics and theoreticians

The "theory-practice gap," as some have called it, has prevented our profession from full utilization of its knowledge base in practice

  Determine the reimbursement for medicaid

Using the same CPT code, 99214, determine the reimbursement for Medicaid (fee schedules should be available from the individual state)

  Describe an example of a television program

Describe an example of a television program that you believe clearly displays social deviance, and explain why you specifically selected it. In this television program, how are people "labeled" as socially deviating from the expected social norms,..

  Describe the basic structure of dna

Describe the basic structure of DNA and explain how it relates to DNA replication? Desribe the basic concepts of heredity that are found in all sexually reproducing organisms, including humans?

  Difference between prejudice and discrimination

When studying about race and ethnicity, it is important to understand the difference between prejudice and discrimination. An easy way to remember.. prejudice is an attitude and discrimination is an action. Throughout history, there has been a str..

  Quality management tools used in data collection

What are two or three quality management tools used in data collection? What types of quality management tools do you utilize to make personal or business decisions? How do you use these tools in the decision-making process?

  Define a similarity in the names of the professor

Professor Smith knew that her colleague, Professor Smitt had terminal cancer. Smith applied for life insurance on Smitt's life and named herself

  How has consideing objection helped you clarify perspective

How has consideing objections helped you clarify your perspective? What might you add to your arguemnt to make it more convincing in light of those objections?

  Why was the senate bi-partisan bill s 744 not enacted

Immigration: Why was the Senate bi-partisan bill S. 744 not enacted into law please explain in 250words and no plagiarism please.

  Reflection on diversity

Reflection on Diversity

  Evaluate the current pay structure

Determine the most beneficial ratio of internally consistent and market consistent compensations systems for the company you selected. Evaluate the current pay structure used by your company and assess the recognition of employee contributions

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