Minimum amounts of light and water

Assignment Help Business Management
Reference no: EM131263362

Jon Snow, an avid indoor gardener, has found that the number of happy plants, h, depends on the amount of light l and water w. In fact, Jon noticed that plants require three times as much light as water, and any more or less is wasted. Thus, Jon's production function is h = min{l, 3w}. The cost of light is denoted by pl and the cost of water by pw

a) Suppose Jon is using 1 unit of light, what is the least amount of water he can use and still produce a happy plant?

b) Find the cost function if Jon wants to minimize costs.

  • l (pl, pw, h) =
  • w (pl, pw, h) =
  • c(pl, pw, h) =

c) Suppose Jon wants to produce 4 happy plants. What are the minimum amounts of light and water required? What is the cost of these four plants?

Reference no: EM131263362

Questions Cloud

Identify and briefly describe four types of b2b web sites : What business functions are performed by e-procurement software? Why might an organization attempt to build its own e-procurement software rather than use existing software packages to meet these needs?
Comment in detail on the ethical considerations : Susie Harrison is a financial consultant to Investments Trust Inc., a real estate syndicate. Investments Trust Inc. finances and develops commercial real estate (office buildings.) The completed projects are then sold as limited partnership interests..
Collaborating on the opening case study : Complete the application assignment, and then make a five- to ten-minute presentation to the class with your findings and reactions.
Discuss key problems faced by the selected organisation : BMBC5103 CONSUMER BEHAVIOUR - The objective of this assignment is analyse contemporary problems in organisations and to propose appropriate information systems to overcome these problems. This assignment is also to expose you to the various forms ..
Minimum amounts of light and water : Suppose Jon wants to produce 4 happy plants. What are the minimum amounts of light and water required? What is the cost of these four plants?
Operating activiteis section of statement of cash flows : How will the change in inventory be reported in the operating activiteis section of the statement of cash flows? Myers Inc. uses the indirect method to prepare the statement of cash flows. The following amounts are shown in its Dec. 31,2013 financial..
How do you define e-commerce : What were some of the common mistakes made by many Web-based companies that failed during the dot-com bubble burst? Why were the managers of those companies unable to see they were headed for problems?
What is meant by unitary elastic : What is meant by unitary elastic? Elabrate it's theory using an example.
Unit contribution margin-contribution margin ratio : Penny Company sells 30,000 units at $62 per unit. Variable costs are $30 per unit, and fixed costs are $750,000. Determine the (a) unit contribution margin (b) contribution margin ratio, and (c) income from operations.

Reviews

Write a Review

Business Management Questions & Answers

  Managing organizational change - eeoc

What is the legal definition for sexual harassment and What investigation process should 1995 Auto Corp. have engaged in when the claims were first made

  Psychologist and social workers in job analysis

Describe the various benefits as well as the vulneralbilities of each performance methos - Roles of I/O Psychologist and Social workers in job analysis

  Examples of the successful application

Discuss the essential steps that your organization can take to reduce occurrences in both. Provide at least two (2) examples of the successful application of such steps to support your rationale.

  What was the firm corporate reputation

What was the firm's corporate reputation? How could the topic of this article apply to your personal or professional life? How could it apply to an organization you have observed?

  Explain state or federal legal requirements

Explain state or federal legal requirements for these programs

  Dialogue between buyers of service and business

Jake and Janelle loved to prepare gourmet meals for friends and family. They started a business of preparing theme type dinners for friends who were having parties. To generate even more interest in the business

  Prepare a four or five page project outlining

Prepare a four or five page project outlining your personality to help you apply some OD interventions to improve yourself as a professional and a person.

  Definition of competencies-initiative

Definition of Competencies: Initiative and Adaptability to Changes

  Explain that you think unilever could have pursued

Explain that you think Unilever could have pursued the same basic strategy 30 years ago

  Department of health and human services

Hypothetically, let's say the Department of Health and Human Services has promulgated a new regulation applicable to all healthcare facilities with inpatients or residents (e.g., hospitals, nursing homes) that is highly unusual:

  Discuss if this internal analysis of the business

Search the Internet, and provide information that illustrates how internal analysis is completed and its implications if not completed accurately and honestly.

  The present value of cash flows is important

The present value of cash flows is important in:

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