What is the cost minimizing

Assignment Help Business Economics
Reference no: EM133124879

The production function has the following form q= K + 2L where q is output, K is capital input and L is labor input. If the prices of inputs are w=5 and v=2 what is the cost minimizing (or efficient) combination of inputs to produce 6 units of output?

Reference no: EM133124879

Questions Cloud

Shares of exam corp : Shares of EXAM Corp. are trading at $50. The stock does not pay dividends. The price of a three-month put with an exercise price of $50 is currently $4 (per sha
Why learning how to be a critical consumer is so important : In a well constructed paragraph, explain why learning how to be a critical consumer is so important to your financial well-being. Give 3 examples of what you ca
Determine the company total costs : Wall Company incurred $40,000 of fixed cost and $50,000 of variable cost when 2,000 units of product made and sold. Determine the company total costs
Evaluate economics of proposal using modi?ed bee analysis : Los Angeles Department ofTransportation is considering an extra 20 miles toll road lane on the 4GB freeway in partnership with a private investment firm.
What is the cost minimizing : If the prices of inputs are w=5 and v=2 what is the cost minimizing (or efficient) combination of inputs to produce 6 units of output?
Creating excess liquidity and asset price bubbles : Raghuram Rajan has argued: "The industrial economies are using ultra-loose monetary policy, while the emerging markets are using currency intervention and capit
Explain the basic principles of double entry bookkeeping : Explain the basic principles of double entry bookkeeping - Explain the purpose of a general ledger in accounting and give at least two examples of transactions
What are the variable costs : - What are this firm's the fixed costs? FC = Blank 1. Fill in the blank, read surrounding text.
Underappreciated growth driver for target : Shipt is one of the reasons Target has captured additional market share during the pandemic, said Karen Short, and equity research analyst for Barclays. She des

Reviews

Write a Review

Business Economics Questions & Answers

  What will happen to the total revenue of eggs producers

The price elasticity of demand for eggs has been estimated to be 0.1. If the price of eggs increases by 10% what will happen to the total revenue of eggs produc

  Compute average fixed cost average variable cost

Compute average fixed cost, average variable cost, and average total cost for each quantity. What is the efficient scale of the painting company.

  Explain why the transformed model meets the gauss-markov

find a transformation of the data to be able to use the same data to estimate a model that satisfies the Gauss-Markov assumptions. be clear and explicit about the process. clearly explain why the transformed model meets the Gauss-markov assumptio..

  Events would affect the supply or demand in each market

Using supply-and-demand diagrams explain how the following events would affect the supply or demand in each market (draw the original demand and supply and in the same graph draw the NEW demand or supply-showing your shifts) and how the quantity and ..

  What is the deadweight loss in this market

Cournot Duopoly). Suppose there are two firms, Firm 1 and Firm 2 in a market. Each firm simultaneously chooses a quantity of output to produce (q1 and q2). Total market output is given by Q = q1 + q2. What is the deadweight loss in this market?

  What are the aspects of free trade

what are long term and short term benefits for international trade? who profits mostly from imports/exports? what are the aspects of free trade?

  Determine the number of students taking

The following is the number of first year students who selected the three mathematics units for trimester one;

  Bertrand model-but where the firms have different costs

Consider a Bertrand model, but where the firms have different costs. Specifically, suppose that firm 1 has a marginal cost of $0.90 per unit and firm 2 has a marginal cost of $1.00 per unit. Prices must be named in increments of $0.01.

  Industrialized countries to balance out environmental

Is there a balance that can be struck between developing and industrialized countries to balance out environmental economics?

  Predict what major issues the program will be addressing

Business Admin Capstone Discussion 1: Looking Ahead- Predict what major issues this program will be addressing 10 years from now. Explain your rationale.

  The manufacturer of brand a automobile tires claims

The manufacturer of Brand A automobile tires claims that its tire can save 110 gallons of fuel over 55,000 miles of driving, as compared to a popular competitor (brand B). If gasoline costs $4.00 per gallon, how much per mile driven does this tire sa..

  How you can involve your employees to help farmers

Suppose you run a coffee shop and you have to do some good work for farmers,

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