How much of input 2 does it use

Reference no: EM13200526

A firm that uses two inputs to produce output has the production function 3x1/3y1/3, where x is the amount of input 1 and y is the amount of input 2. The price of output is 1 and the prices of the inputs are wx and wy. The firm is constrained by the government to use exactly 1000 units of input 1.

a. How much of input 2 does it use?

b. What is the most that it is willing to bribe an inspector to allow it to use another unit of input 1?

Reference no: EM13200526

Questions Cloud

This coping technique helps neutralize the fear of unknown : This coping technique helps neutralize the fear of the unknown.

How many units of two types of lawn mowers to produce a day : Billy Penny is trying to determine how many units of two types of lawn mowers to produce each day. One of these is the Standard model, while the other is the Deluxe model. The profit per unit on the Standard model is $60, while the profit per unit..

Find the lung capacity : The polynomial 0.041h-0.018a-2.69 can be used to estiimate the lung capacity, in liters, of a female with height h, in centimeters, and age a, in years. Find the lung capacity of a 40-year-old woman who is 160 centimeters tall.

Explain-my personal economic theory is live below my means : If someone said "My personal economic theory is live below my means..." what does this mean and what implications does t.is have for that person's economic future?

How much of input 2 does it use : What is the most that it is willing to bribe an inspector to allow it to use another unit of input 1?

State how many bags must he add to each side : Suppose that he must add the same number of bags to each side. How many bags must he add to each side in order to balance the scale?

Paralegal working at a defense law firm : "You will now put yourself in the shoes of a paralegal working at a defense law firm. A defendant in the Justin King complaint has retained your law firm to represent it against Mr. King.

Compute price of bonds based on a semiannual analysis : Compute the price of the bonds based on a semiannual analysis and compute the price of the bonds for these maturity dates

How many outcomes are in the event of getting both numbers : Box A contains the numbers 1, 2, 3, and 4. Box B contains the numbers 5, 6, 7, and 8. A number is first drawn from Box A and then another number from Box B. Using how many outcomes are in the event of getting both numbers even?

User Account

All Pages