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

  Caselet on michael porter’s value chain management

The assignment in management is a two part assignment dealing 1.Theory of function of management. 2. Operations and Controlling.

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. Due to increase in the preference for light beer drinkers, Chris Prangel wants to introduce light beer version in Mountain Man. An analysis into the la..

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. An analysis into the launch of Mountain Man Light over the present Mountain Man Lager.

  Analysis of the case using the doing ethics technique

Analysis of the case using the Doing Ethics Technique (DET). Analysis of the ethical issue(s) from the perspective of an ICT professional, using the ACS Code of  Conduct and properly relating clauses from the ACS Code of Conduct to the ethical issue.

  Affiliations and partnerships

Affiliations and partnerships are frequently used to reach a larger local audience? Which options stand to avail for the Hotel manager and what problems do these pose.

  Innovation-friendly regulations

What influence (if any) can organizations exercise to encourage ‘innovation-friendly' regulations?

  Effect of regional and corporate cultural issues

Present your findings as a group powerpoint with an audio file. In addition individually write up your own conclusions as to the effects of regional cultural issues on the corporate organisational culture of this multinational company as it conducts ..

  Structure of business plan

This assignment shows a structure of business plan. The task is to write a business plane about a Diet Shop.

  Identify the purposes of different types of organisations

Identify the purposes of different types of organisations.

  Entrepreneur case study for analysis

Entrepreneur Case Study for Analysis. Analyze Robin Wolaner's suitability to be an entrepreneur

  Forecasting and business analysis

This problem requires you to apply your cross-sectional analysis skills to a real cross-sectional data set with the goal of answering a specific research question.

  Educational instructional leadership

Prepare a major handout on the key principles of instructional leadership

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