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Dimex Fabrications Co., a small manufacturer of sheet-metal body parts for a major U.S. automaker, estimates its long-run production function to be
Q= -0.015625K3L3 + 10 K2 L2
where Q is the number of body parts produced daily, K is the number of sheet-, metal presses in its manufacturing plant, and L is the number of labor-hours per day of sheet-metal workers employed by Dimex. Dimex is currently operating with eight sheet-metal presses.
a. What is the total product function for Dimex? The average product function? The marginal product function?
b. Managers at Dimex can expect the marginal product of additional workers to fall beyond what level of labor employment?c. Dimex plan to employ 50 workers. Calculate total product, average product, and marginal product?
A New Hampshire resort offers year-round activities: in winter, skiing and other activities to be cold; and in summer, golf, tennis and hiking. The costs of running resort are essentially the same in winter and summer.
ublic offering bonds 20% and interst 6%. tyberius investment 10% and interest 10%. sludge FM bank 20% and interest 12%. retained earning 15% and interest 10%. commen stock 25 and interest 15%.
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