Find short run total cost of producing sixty tons of shrimp

Reference no: EM13118510

Shrimp can be produced according to the following production function: Q = min (10B, 2L)

Where 'B' represents the number of shrimp boats, 'L' represents the number of shrimpers (workers), and Q, the number of shrimp that are produced per day.

Currently, boats rent for $500 per day and workers cost $100 per day.

Suppose your company decided purchase 12 shrimp boats (Jenny 1 - Jenny 12). These boats are a fixed resource for the firm. What is the short run total cost of producing 60 tons of shrimp?

Reference no: EM13118510

Questions Cloud

Find fishing and probability : Fishing and Probability. Last week, Pat caught n distinct fish from Lake Nebagamon, but threw all of them back at the end of the fishing trip. Next week, Pat will go fishing again at the same place,

Find out the rods speed after it has moved : The battery has internal resistance of 0.100 Ω, and the rod and rails have negligible resistance. A 2.02 T magnetic field is directed perpendicular to the plane of the circuit. Find the magnetic force on the rod. F= 38.78 N. Find out the rod's spe..

Checking polynominal division : How would you check polynomial division? Explain your answer. Explain, in your own words, the product rule of exponents. Why does it work? Give examples.

Find short run total cost of producing sixty tons of shrimp : Suppose your company decided purchase 12 shrimp boats (Jenny 1 - Jenny 12). These boats are a fixed resource for the firm. What is the short run total cost of producing 60 tons of shrimp?

Find probabilities of selecting multiples of fixed numbers : Probabilities of Selecting Multiples of Fixed Numbers. Let N = 1000 and let S = {1, 2, ... , N}. Let D_i = {m belongs to S: i|m} for integers i between 1 and N.

What components are needed to initiate transcription : Which RNA polymerase is used in Lac operon expression? Which one is used in eukaryotic gene expression?

Find predictions would be between what two values : Determine the standard error of estimate. Suppose a large sample is selected (instead of just five). About 68 percent of the predictions would be between what two values?

Probability -a game of poker is played with an ordinary deck : Probability - poker fullhouse. A game of poker is played with an ordinary deck of 52 cards, and each player is dealt a hand of 5 cards chosen at random

User Account

All Pages