User Account

All Pages

Find a combination of input factors

Assignment Help Business Economics
Reference no: EM133082014

Find a combination of input factors that minimizes the following total cost:

TC = 3L2 + 5LK + 7.5K2 - 20L - 21K + 44.2

Using the second order conditions prove that this combination corresponds to the minimum. What is the value of the minimum possible total cost?

Reference no: EM133082014

Questions Cloud

Employee recruitment and retention : In employee recruitment and retention, one of the key goals is to maintain a diverse workforce. What does diversity mean in this context?
Business leaders and servant leadership : Humans are satisfied with whatever looks good; God probes for what is good. How does this apply to virtuous business leaders and servant leadership?
Calculate the variables : The following data are taken from the Lebanese Ministry of Economy and Trade in 2015:
Find a combination of input factors : Find a combination of input factors that minimizes the following total cost:
Find a combination of input factors : Find a combination of input factors that minimizes the following total cost:
Payroll data of paradise restaurant : Using the following payroll data of Paradise Restaurant, government owned, for the month of Sene 988:
Measures of central tendency and absolute dispersion : Explain the importance and limitations of the measures of central tendency and absolute dispersion
Explain the decisions-making tendencies of people : Did you find any of them to be more salient than others in terms of describing your decision-making, or the decisions-making tendencies of people you know? Are
Results of a cost benefit analysis : In 400 words or less - Provide an example where you observed a conflict between the results of a cost benefit analysis (CBA) and ethical decision making that yo

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national 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