What is the firm capital-labor ratio

Assignment Help Business Economics
Reference no: EM132151475

A firm's production function is X = 6LK. Name five input combinations that would allow the firm to produce 180 units of output. In each case, what is the firm's capital-labor ratio? If the wage rate is $15 per unit and the rental rate on capital is $25 per unit, what are the firm's costs for each of five input combinations?

Reference no: EM132151475

Questions Cloud

Create and deploy virtual machines : Create a VMkernel Port for VMotion - Create and Deploy Virtual Machines - Use VMWare Storage VMotion to migrate the storage of a hot VM onto a shared SAN LUN
Total economic cost of taking the ski trip : They estimate your share of the gas, motel, lift tickets, and other expenses to be around $50. What is your total economic cost of taking the ski trip?
Result in the best solution for all parties : How would a Prison's Dilemma example show that rational self-interested play does not always result in the best solution for all parties
Bargaining between a customer and a used car dealer : From a game theory perspective, how would you characterize the bargaining between a customer and a used car dealer?
What is the firm capital-labor ratio : Name five input combinations that would allow the firm to produce 180 units of output. In each case, what is the firm's capital-labor ratio?
Entrepreneurs create wealth by moving resources : As you will be hearing many, many (many) times in this course, entrepreneurs create wealth by moving resources from lower-valued to higher-valued uses
Elasticity of demand for soda : Suppose, that the elasticity of demand for soda is -0.8 and the elasticity of supply is 1.0. If so, would the tax fall more strongly on sellers or on buyers?
Calculate the opportunity cost : Calculate the opportunity cost and show the answer and the calculation. Should the company ask Bill to make the extra clutches or not?
What is the actuarially-fair premium : A group of individuals each face a 1% probability of suffering a loss of $10,000, a 4% probability of suffering a $1,000 loss, a 20% probability of suffering a

Reviews

Write a Review

Business Economics Questions & Answers

  The conventional labor market theory

The conventional (classical) labor market theory suggests that i) the wage rate adjusts smoothly so that labor supply equals labor demand; ii) wages are set competitively across markets; iii) there is no ‘involuntary’ unemployment (anyone who wishes ..

  Economic theory of bureaucracy states that athletic director

The economic theory of bureaucracy states that athletic directors: Relative to a perfectly-competitive labor market, a monopolized one: The marginal costs of effort tend to:

  Security price to be considered at equilibrium

What condition must exist for a security's price to be considered at equilibrium? Does this actually happen?

  Suppose the mpc in an economy

Suppose the mpc in an economy is .85 the apc is .09 and disposable income if 5 billion. What is the new consumption level when disposable income increases to 12 billion?

  Explain how the ebola deaths in sierra leone affected

Consider the 2014 Ebola outbreak in West Africa. In 2014 the Ebola virus outbreak in West Africa led to 11325 deaths. You are required to use both the models by Thomas Malthus to examine the impacts of the Ebola virus, that is the resulting impacts a..

  Differentiation between market structures competitive

Differentiation between market structures, competitive strategies and the positive or negative impact on the organization with industry specific analysis. Identification of the competitive strategies and the effectiveness of the same. Recommendations..

  Major explosion that destroyed the holding tank and ethanol

On August 15, 2014 Emma signed a contract to purchase 35,000 gallons of ethanol from Korey for resale at her ethanol station. When Emma signed the contract, the ethanol was warehoused in a holding tank at Korey's production facility. On August 24 lig..

  Discuss the effects of hiv-aids on the economies

Discuss the effects of HIV/AIDS on the economies of african countries. Making sure to discuss the sources of economic growth and the use of scarce resources.

  Determining the branch of microeconomics

This theory of consumer choice is a branch of microeconomics which relates to what is called to consumers demand curves and to expenditures of consumption.

  Was the wage freeze example of price floor or price ceiling

During World War II there was a freeze on wages, and corporations found they could evade the freeze by providing other fringe benefits such as retirement funds and health insurance for their employees. The Internal Revenue Service went along with thi..

  What is the implied income elasticity of demand for movies

he or she rents 63 movies per year at the same price per movie. What is the implied income elasticity of demand for movies? Are movies a normal good or an inferior good?

  Determine the annual depreciation amount

A garbage disposal company purchased a refuse truck on Feb. 2, 2113, at a cost of $72,000' The truck has a useful life of 8 years with an estimated salvage vale of $17,000. The straight line method is used for book purposes. For tax purposes, the tru..

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