User Account

All Pages

Find the cost function if jon wants to minimize costs

Assignment Help Business Management
Reference no: EM131263421

Jon Snow, an avid indoor gardener, has found that the number of happy plants, h, depends on the amount of light l and water w. In fact, Jon noticed that plants require three times as much light as water, and any more or less is wasted. Thus, Jon's production function is h = min{l,3w}. The cost of light is denoted by pl and the cost of water by pw

a) Suppose Jon is using 1 unit of light, what is the least amount of water he can use and still produce a happy plant?

b) Find the cost function if Jon wants to minimize costs.

  • l(pl,pw,h)=
  • w(pl,pw,h)=
  • c(pl,pw,h)=

c) Suppose Jon wants to produce 4 happy plants. What are the minimum amounts of light and water required? What is the cost of these four plants?

Reference no: EM131263421

Questions Cloud

What aspects of groupthink were at work in the committee : What aspects of groupthink were at work in this committee? - What conditions contribute to groupthink? - What can groups do to avoid groupthink?
Explain how job skills can lead to improved job performance : Discuss how these job skills can lead to improved job performance. Explain how Organizational Behavior can aid you in decision-making and problem-solving. Predict the consequences of unethical behavior in the workplace.
Sells laptop computers and uses standard costing : Charlassier Corporation manufactures and sells laptop computers and uses standard costing. For the month of September there was no beginning inventory, there were 3,000 units produced and 2,500 units sold. Prepare the income statement for Charlassier..
How would you respond to this new project manager : It seems the easiest way to keep everyone informed is through the use of a monthly newsletter. I will publish the first one in about four weeks and distribute it via e-mail to you and other senior managers within the firm." How would you respond t..
Find the cost function if jon wants to minimize costs : a) Suppose Jon is using 1 unit of light, what is the least amount of water he can use and still produce a happy plant? b) Find the cost function if Jon wants to minimize costs.
Comment on the memos effectiveness and tone : Comment on the memo's effectiveness, tone, and potential barriers to communication. Revise the memo, improving its tone, grammar, and organization.
Reconciling net income per books to taxable income : Prepare a Schedule M-1 reconciling net income per books to taxable income for the year ended December 31, 2015. After-tax net income per books equaled $66,800 for the year ended December 31, 2015. The company reported $17,500 in Federal income tax ex..
Which form of contract would you prefer and why : How would you respond to a project team member who feels that risk management is a waste of time because the future cannot be predicted? Instead, this person prefers to react to problems as they occur.
Find the optimal consumption bundle : Find the optimal consumption bundle when r = 0:15. Is the consumer a saver or a borrower?

Reviews

Write a Review

Business Management Questions & Answers

  Caselet on michael porter’s value chain management

The assignment in management is a two part assignment dealing 1.Theory of function of management. 2. Operations and Controlling.

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. Due to increase in the preference for light beer drinkers, Chris Prangel wants to introduce light beer version in Mountain Man. An analysis into the la..

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. An analysis into the launch of Mountain Man Light over the present Mountain Man Lager.

  Analysis of the case using the doing ethics technique

Analysis of the case using the Doing Ethics Technique (DET). Analysis of the ethical issue(s) from the perspective of an ICT professional, using the ACS Code of  Conduct and properly relating clauses from the ACS Code of Conduct to the ethical issue.

  Affiliations and partnerships

Affiliations and partnerships are frequently used to reach a larger local audience? Which options stand to avail for the Hotel manager and what problems do these pose.

  Innovation-friendly regulations

What influence (if any) can organizations exercise to encourage ‘innovation-friendly' regulations?

  Effect of regional and corporate cultural issues

Present your findings as a group powerpoint with an audio file. In addition individually write up your own conclusions as to the effects of regional cultural issues on the corporate organisational culture of this multinational company as it conducts ..

  Structure of business plan

This assignment shows a structure of business plan. The task is to write a business plane about a Diet Shop.

  Identify the purposes of different types of organisations

Identify the purposes of different types of organisations.

  Entrepreneur case study for analysis

Entrepreneur Case Study for Analysis. Analyze Robin Wolaner's suitability to be an entrepreneur

  Forecasting and business analysis

This problem requires you to apply your cross-sectional analysis skills to a real cross-sectional data set with the goal of answering a specific research question.

  Educational instructional leadership

Prepare a major handout on the key principles of instructional leadership

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