Produce two units of output for each hour of labor input

Assignment Help Business Economics
Reference no: EM131089634

You are the manager of a new firm that can choose between two technologies for producing output using only labor. Technology A can produce two units of output for each hour of labor input. Technology B can produce three units of output for each hour of labor input up to 100 hours, and β units of output for each hour of labor above 100 hours. For what values of β is technology B more productive than technology A?

Reference no: EM131089634

Questions Cloud

What about worker productivity : Imagine that in a certain economy, the average number of hours worked per week declined. How would you expect this change to affect per capita GDP? What about worker productivity?
Calculate the price per share : A company's total sales in a year were £950,000. The cost price of goods sold was £480,000.
Student diagnosed with autism spectrum disorder : THE BOOK TO BE USED EXCEPTIONAL CHILDREN AN INTRODUCTION TO SPECIAL EDUATION (10TH ED), WILLIAM L. HEWARD. Also please be sure to us the quotes when taking stuff from your sources, be sure to cite and PARAPHRASE AND NO PLAGARISM. PLEASE SEND ME TH..
Birthday in a particular country : The percentage of children who die before their first birthday in a particular country?
Produce two units of output for each hour of labor input : You are the manager of a new firm that can choose between two technologies for producing output using only labor. Technology A can produce two units of output for each hour of labor input. Technology B can produce three units of output for each hour ..
Interest for each year has been added : When a man retires, he invests $20,000 in a bank, interest at 8% per annum of the amount to his credit to be added at the end of each year. When the interest for each year has been added,
China has more car brands now than the united states : According to the New York Times (11/18/06) the number of car producers in China is increasing rapidly. The newspaper reports that “China has more car brands now than the United States.” But while car sales have climbed 38% in the first three quarters..
Afford to lower the price of goods in competitive market : How can large companies afford to lower the price of goods in a competitive market? A company’s ability to raise its price without losing its entire market is an example of market power. One of the most important of these is economies of scale. Expla..
Calculate the total cost of the order : (a) Calculate the total cost of the order. (b) Giving your answer correct to the nearest penny, calculate the average cost of one pack of buttons.

Reviews

Write a Review

Business Economics Questions & Answers

  Calculate the after-tax nominal interest rate

Calculate the after-tax nominal interest rate, then subtract off inflation to get the after-tax real interest rate for both cases.

  Q1 hello yesterday you provided me with the solution for

q1. hello yesterday you provided me with the solution for the below question. the answer was totally incorrect so i

  Did the elbonian labor force participation rate rise or fall

The country of Elbonia recently consisted of 20 million people in its adult non-institutionalized population, 8 million people employed, and 2 million unemployed, for an unemployment rate (U-3) of 20% and a labor force participation rate of 50%. Did ..

  Humanitarian effort to be profitable

In a certain building construction project , 6500 feet of ductwork is required. Today's price of a 24-inch diameter duct is 127.50$ per foot. If the cost of the ductwork is expected to increase 7% per year into the foreseeable future. How many laptop..

  Moral hazards affect financial and labor markets

How do the concepts of adverse selection and moral hazards affect financial and labor markets? Which of these effects is the most significant? Why? What are the most significant effects of these concepts on organizations and individuals? Why?

  Number of firms in the new long-run equilibrium

Draw graphs showing a perfectly competitive firm and industry in long-run equilibrium. a. How do you know that the industry is in long run equilibrium? b. Suppose that there is an increase in demand for this product. Show and explain the short-run ad..

  What is the value of g for this third series over the same

Each of these two cash-flow series is equivalent to a third series, which is a uniform gradient series. What is the value of G for this third series over the same five-year time interval?

  At the point at which individual maximizes her utility level

An individual utility function is given by U(c,h) = c.h, where c represents consumption during a typical day and h hours of leisure enjoyed during that day. The real hourly market wage rate the individual can earn is w = $20. This individual receives..

  What discretionary fiscal and monetary policies

What discretionary fiscal and monetary policies might Keynesian economists recommend to close a recessionary gap, and thus stabilize an economy? Explain how they work. What are the limitations of these policies?  Why might they not be effective?

  Division of labor leads to increased production

Smith suggests that division of labor leads to increased production through three different avenues. Explain. “It is the great multiplication of the production of all the different arts in consequence of the division of labour, which occasions in a w..

  Fertility reduction is not worth the medical risks

Which of the following is NOT an argument offered by the text as an argument against population and birth control?Fertility reduction is not worth the medical risks of using the medical means of population programs.

  Elasticity and engel aggregation

Define ex,I and ey,I to be income elasticities for goods x and y. Define sx and sy to be income shares for x and y.

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