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Suppose a company that uses two inputs. The quantity used of input 1 is denoted by x_1 and the quantity used of input 2 is denoted through x_2. The firm produces and sells one good using the production function f(x_1,x_2)=4x_1^0.5+3x_2^0.5. The final good is sold at price P=$10. The prices of inputs 1 and 2 are w_1=$2 and w_2=$3, respectively. The markets for the final good and both input goods are treated as competitive markets by the firm, that is, it takes prices as given.
e) Find the technical rate of substitution. Does the technology show diminishing technical rate of substitution? Explain.
Assume in the short run that x_2 is fixed at (x_2 ) ?=100.
f) Write down the firm's profit function and the firm's short run profit maximization problem. Find the firm's optimal use of input 1, the associated optimal quantity of the output, and the firm's profit level.
Price comparison services on the Internet are a popular way for retailers to promote their products and a convenient way for customers to simultaneously obtain price quotes from many firms setting I identical product.
How could you assess which of the top 3-companies in an industry was best managed from a financial standpoint?
Given the data, please construct the demand estimation for soft drink consumption in the United States by a multiple-linear regression equation, and a log-linear (exponential) regression equation.
A portfolio manager is being evaluated based on the time-weighted average rate of return. If the manager had achieved annual returns for the past three years of 2.5 percent, 14.5 percent and 9 percent on one initial investment of $500,000,
Estimate the coefficients of the demand model for the data given above. Provide an economic interpretation for each of the coefficients in the estimated demand equation you have compuated.
At several universities and colleges, business professors receive higher salaries than professors in others fields. Why might this be the case?
A corporation requires $500,000,000 to finance a major project in the firm. The company is expected to generate a total of $80,000,000 in earnings next year with the addition of this project.
The following table demonstrate yearly sales information for Landrover, Inc., over the ten-year 1998-2008 period:
Use the following information for a company's output at various levels of employment to compute: its marginal physical product of labor schedule; its schedule,
Andre has asked you to evaluate his business, Andre's Hair Styling. Andre has five barbers working for him. Each barber is paid $9.90 every hour and works a forty hour week and a fifty week year,
Explain whether the firm will make economic profit, In the short run and In the long run.
Draw the firm's average and marginal cost curves on the following diagram and the information in the following table relates to a firm's average and marginal costs of operating each of three plants (X, Y and Z). Each plant has a U-shaped average c..
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