Labor and materials are needed to operate efficiently

Assignment Help Microeconomics
Reference no: EM13318949

Determine whether the firm is operating efficiently, given that its objective is to minimize the cost of producing the given the level of output

b) Determine what changes (if any) in the relative proportions of labor and materials are needed to operate efficiently

Reference no: EM13318949

Questions Cloud

Determine whether the firm is operating efficiently : a) Determine whether the firm is operating efficiently, given that its objective is to minimize the cost of producing the given the level of output
Explain what is the percent yield of reaction : 6Li(s) + N2(g)------ 2Li3N(s) a, What is theortically yield of Li3N in gram when 12.1gm of Li is heated with 33 gm of N2? b, If actual yield of Li3N is 6.09g what is the percent yield of reaction
Find the velocity of the two cars : A rail car of mass 4500 kg is moving with a velocity of 12.4 m/s collides with a stationary rail car of mass 6700 kg. What is the velocity of the two cars
Discuss the effects of the project on the local community : Discuss the effects of the project on the local community of the project described below 1.) The social, economic and environmental significance of the project within the local community 2.) The good, and bad impacts the project might have.
Labor and materials are needed to operate efficiently : Determine what changes (if any) in the relative proportions of labor and materials are needed to operate efficiently
Determine the decomposition of ammonium nitrite and nh4no2 : Consider the decomposition of ammonium nitrite: NH4NO2 yields to N2 + H2O. What would be the change in pressure in a sealed 10.0 L vessel due to the formation of N2 gas when the ammonium nitrite in 2.90 L of 0.990 M NH4NO2 decomposes
Find the resistance of the lighter : A cigarette lighter in a car is a resistor that, when activated, is connected across the 12-V battery. Suppose a lighter dissipates 32 W of power. find the resistance of the lighter
Find the peak value of the ac voltage applied to the speaker : The average power used by a stereo speaker is 54 W. find the peak value of the ac voltage applied to the speaker
Design a packed tower strpping column to meet requirements : a well is contaminant with 340 mg/L of tetrachloride ( perchloroethylene). the water must be remediated to achieve a concentration of 0.2 mg/L ( the detention limit ).

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

Questions:  :   Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

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