What is the optimal input combination

Assignment Help Business Economics

Reference no: EM1310420

Q. Given the following production function:

Q= 30X + 2XY -.5X2 - .5Y2

where Q is output also X also Y are inputs also Px=$25.00 every unit also Py=$40.00 every units also MR= $ .50

A. Assuming you ONLY have the production also not the input prices or MR, Illustrate what is the slope of the isoquant given X on the vertical axis also Y on the horizontal axis.

B. Now using the information on input prices also MR, Illustrate what is the optimal input combination?

Reference no: EM1310420

Questions Cloud

Various macroeconomic factors to determine exchange rates : Describe the various macroeconomic factors which determine exchange rates? What is the justification for existence of International Fisher Effect?

Why is it important to know which type of inflation : Illustrate what are the different types of inflation. Elucidate why is it important to know which type of inflation we may be experiencing.

Phases of the retirement plan : Kim is measuring her retirement plan. Assume she has $500,000 when she retires in an account that earns at an effective annual rate of 9%.

Personality and naturalistic positions in scientific history : In this assignment, you will mainly focus on the debate between personality and naturalistic positions in teh scientific history and how the concept of zeitgeist associates to each of such concepts.

What is the optimal input combination : Now using the information on input prices also MR, Illustrate what is the optimal input combination.

Evaluating a potential bond purchase : Nellie is evaluating a potential bond purchase that the seller purchased 12 years ago for $4,000. The bond matures 8 years from today.

Imagine that the mass of the seesaw is negligible : What will be the equilibrium temperature while a 238 block of copper at 230 is placed in a 133 aluminium calorimeter cup containing 831 of water at 16.0.

Fixed budget income statement by contribution margin format : Prepare a fixed budget income statement for the planned level of sales and production. Prepare a fixed budget income statement for the actual level of sales and production.

Applied behavioral analysis in sports or athletics : A brief review of the current literature regarding the implementation and advanatges of Applied Behavioral Analysis in sports or athletics.

User Account

All Pages