Find the output-conditional input demand

Assignment Help Business Economics
Reference no: EM133083513

Let the production function of a firm is given as =( 0.5 + 0.5)2 Where and are inputs and is the price of input and is the priceof input .

a) Assume the firm has a limited budget to spend on buying input. Find the cost-conditional input demand function for each input.

b) Now, assume the firm has no budget restriction but it has aproduction quota. Find the output-conditional input demand
function for each input.

c) Find the cost function of the firm.

d) Assume the firm has no budgetary or production restrictions and set up the profit maximization problem.

e) Write the conditions that need to be met to find a non-zero output that maximizes profits.

Reference no: EM133083513

Questions Cloud

Laying off workers at an instantaneous rate : In economics, Cobb-Douglas functions can be used to model how a company's production amount (P ) depends on the amount of labor involved (L) and the amount of c
Explain the best benefits consumers : Evaluation Paragraph: After watching a video, reading the information, and notetaking write two separate paragraphs.
Martin weitzman-environmental economist : 1. Give a introduction and biography about his life, works and as an economist.
How would you review nafta vs european union : How would you review NAFTA vs. European Union (world's two largest economic entities) the pairs of economies listed below. Each pair has 1 highly successful cou
Find the output-conditional input demand : Let the production function of a firm is given as =( 0.5 + 0.5)2 Where and are inputs and is the price of input and is the priceof input.
National culture on leadership direction : Explore and reflect on self- development as a leader to build self-awareness and develop a personal leadership development strategy
What would be the effect of sunny charging : Sunny (UK) Ltd has produced a new DVD player for the UK market. The following demand and supply data are the result of recent market research.
Explain the violation of law or regulation : What are the implications of those decisions even if there is no violation of law or regulation?
Presentation on the basics of e-portfolios : Presentation on The basics of e-portfolios and importance today of networking sites and Prepare the presentation as per given instructions on the Cover entire

Reviews

Write a Review

Business Economics Questions & Answers

  Health care to individuals without health insurance

What do you believe should be the top spending priorities of the federal government? Do you believe the federal government has a responsibility in regard to health needs of citizens or do you believe that this is an issue better left to the various s..

  What is the expected payoff of the team

A team is choosing whether to Cheat (C) or Not Cheat (N)in the final tournament, and a league is deciding whether to be Strict (S) or Lenient (L) in monitoring

  Compute the doubling time for france

Per capita real GDP was $28,900 in France in 2003, and $12,700 in Korea. Assume the growth rates for each country remain the same.

  Is the standard for proving this civil action

Wesley was mad at Stacey for breaking up with him. He decided to shoot her, bought a gun, and killed her the next day. Stacey's family is devastated that she died. (a) In addition to the crimes that Wesley may have committed, what type of civil actio..

  Short-run equilibrium output

Suppose the economy is at a point where short-run equilibrium output is lower than long-run output. Draw the IS/LM/FE graph to show the location of output and the interest rate in this equilibrium. Label this point A in your graph.

  How does this compare to the profit maximization condition

In order to maximize profits, monopolies produce where: Marginal Revenue = Marginal Cost

  Some real-world examples of different types of trading blocs

What are some real-world examples of these different types of trading blocs?

  Estimating the cost of capital

In this case, is it worse to commit a 10% error in estimating the cash flow, or to commit a 10% error in estimating the cost of capital?

  Administering performance appraisals

Imagine yourself as an HR Manager responsible for administering performance appraisals. Which performance appraisal error would you most likely commit?

  Chance of succeeding if they receive help from banks

A business has a 70% chance of succeeding if they receive help from banks. They will have 50% of succeed if they are also given help by the government.

  Evaluation of the value and potential benefits of bcm

Describe the company and define the executives' personalities and justify your approach. It is important that you do some research on the best way to approach

  Use the social justice principles of equality-solidarity

What ways do correction professionals use the social justice principles of equality, solidarity, and human rights to build a more just society?

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