Makes basketballs in vietnam using labor

Assignment Help Business Economics

Reference no: EM13744249

Jordan Inc makes basketballs in Vietnam using labor (L) and capital (K). Its weekly production function can be described as:

Q = 5 * K1/2 * L1/2

The price of each unit of capital is $40 per unit per week. The labor use varies according to the number of basketballs made, and each worker employed is paid a weekly wage of $25.

a) Short run: Suppose K = 25 units per week in the short run. Compute the weekly TC and the MC functions for Jordan Inc.

b) Suppose you consider the following long run problem: That Jordan Inc expects to sell 2000 basketballs per week. You, the consultant, has been asked to determine the number of units of labor and capital the company should deploy, so it can minimize the cost of making the 2000 basketballs. What would you suggest? Show relevant computations.

Reference no: EM13744249

Questions Cloud

Project risks responsibility plan : Project Risks Responsibility Plan. Include a responsibility matrix listing the stakeholders and project team members, with risk actions (or category of actions) along the top.

Explore american presidents and their military experience : American Presidents and their Military Experience. Choose at least ten American Presidents those had military experience. For each one of the ten chosen presidents, indicate.

Working capital management : Watch the "Concept Review Video: Working Capital Management" video located in theWileyPLUS Assignment.

How much would he be willing to pay for the quarry : A road building contractor has received a major highway construction contract that will require 50,000 m^3 of crushed stone each year for 5 years. The stone can be obtained from a quarry for $7.80/m^3. As an alternative, the contractor has decided to..

Makes basketballs in vietnam using labor : Jordan Inc makes basketballs in Vietnam using labor (L) and capital (K). Its weekly production function can be described as: The price of each unit of capital is $40 per unit per week. The labor use varies according to the number of basketballs made,..

Suppose that x is not orientable : Suppose that X is not orientable. Prove that X*Y is never orientable, no matter what manifold Y may be. (Hint: First show that X * R^L is not orientable. But every Y has an open subset diffeomorphic to R^L.)

Analyzing pro forma statements : Decide upon an initiative you want to implement that would increase sales over the next five years, (for example, market another product, corporate expansion, and so on).

A homotopy invariant : If f: X->Y is transversal to Z and dim X + dim Z = dim Y, then we can at least define I_2(f, Z) as #f^(-1)(Z) mod 2, as long as f^(-1)(Z) is finite. Let us explore how useful this definition is without the two assumptions made in the text: X compact ..

Explain technological advances & style : Technological Advances & Style: Given a particular cinematic innovation, students will orate a coherent, well-supported and well-reasoned argument advancing an analysis of the causal links.

User Account

All Pages