What production function is used

Assignment Help Econometrics
Reference no: EM131323705

The all-American baseball is made using cork from Portugal, rubber from Malaysia, yarn from Australia, and leather from France, and it is stitched (108 stitches exactly) by workers in Costa Rica. To assemble a baseball takes one unit each of these inputs. Ultimately, the finished product must be shipped to its final destination-say, Cooperstown, New York. The materials used cost the same anywhere. Labor costs are lower in Costa Rica than in a possible alternative manufacturing site in Georgia, but shipping costs from Costa Rica are higher. What production function is used? What is the cost function? What can you conclude about shipping costs if it is less expensive to produce baseballs in Costa Rica than in Georgia?

Reference no: EM131323705

Questions Cloud

Calculate the change in internal energy : Calculate the change in internal energy(delta E) for a system that is giving off 25.0kJ of heat and is changing from 6.00L to 12.00L in volume at 1.50atm pressure. (101.3J=1 L*atm)
Role of evaluating human capital in recent years : Maintaining a competitive workforce is very challenging in today's economy. The role of evaluating human capital, in recent years, has:
Finish the two cash flow analyses : Finish the two cash flow analyses through year 2025 on the basis of the Status Quo and from Investing in the Paywalls Model.
Temperature of the calorimeter : When .0430 mole of titanium is combusted in a bomb calorimeter, the temperature of the calorimeter increases from 30.00degress Celsius to 91.60 degrees Celsius. In a separate experiment, the heat capacity of the calorimeter is measured to be 9.84k..
What production function is used : What production function is used? What is the cost function? What can you conclude about shipping costs if it is less expensive to produce baseballs in Costa Rica than in Georgia?
Koh solution for complete neutralization : A 0.6745 gram sample of KHP reacts with 41.75 mL of KOH solution for complete neutralization. What is the molarity of the KOH solution? (Molecular weight of KHP = 204 g/mol. KHP has one acidic hydrogen.)
Is this firm producing at minimum cost : Is this firm producing at minimum cost? If it is minimizing cost, explain why. If it is not minimizing cost, explain how the firm should change the ratio of inputs it uses to lower its cost.
Describe the leadership teams reaction to the failure : HSA 520: Analyze the leadership team's reaction to the failure, and indicate whether the leadership took sufficient measures to deal with various stakeholder groups impacted by the failure.
Develop a full-sentence outline of your research topic : Develop a full-sentence outline of your research topic, taking care to structure your thoughts on the topic in a coherent fashion that clearly illustrates your objectives and intentions.Your full sentence outline should identify your thesis stateme..

Reviews

Write a Review

Econometrics Questions & Answers

  How much more government spending would achieve the target

If the AD shortfall is $800 billion and the MPC is 0.8, (a) How large is the desired fiscal stimulus (b) How large an income tax cut is needed how much more government spending would achieve the target

  What is the marginal product of labor at few hours of work

What is her marginal product of labor at one, two, three, and four hours of work?

  When decreases the average selling price of the phones

Revenue at a major cellular telephone manufacturer was $1.4 billion for the nine months ending March 2, up 97 percent over revenues for the same period last year. Management attributes the increase in revenue to a 137 oercent increase.

  What is present worth of planned expenditures at an interest

a company expects to replace office machines and computer equipment at various times over the 6-year planning period. Specifically. The company expects to spend $21000 two years from now. $24000 three years from now. $10000 five years from now.

  Explain how to test the validity of the advertising claim

The chamber of commerce of a Florida Gulf Coast community advertises that area residential property is available at a mean cost of $125,000 or less per lot. Suppose a sample of 32 properties provided a sample mean of $130,000 per lot

  Find the elasticity of demand at profit maximising output

A monopolist faces the demand curve Q = 60-P/2. The cost function is C=Q2. Find theoutput that maximises this monopolist's profits. What are the prices at profits and thatoutput? Find the elasticity of demand at the profit maximising output

  Why the epa''s landfill regulation is too short

The U.S. Environmental Protection Agency (EPA) issues regulations covering the design and construction of landfills for municipal solid waste.

  Give compliment or a substitute for water balloons

Suppose this the demand for water balloons fit the function D(P, Ps)=.2P^(-.5)Ps^(-.2) where P is the price of water balloons and Ps is the price of super soakers (an advanced squirt gun technology). Based upon this demand curve, are super soakers..

  Explain which policy would be better for consumers

Industry X is perfectly competitive and each firm produces output with a technology Q = C ½ L ½, where C is coal and L is labor. The demand for industry X's output is Q = 10,000 - 2P, and the firms in industry X can purchase coal at a cost

  Discuss the procedures used to test one of these objectives

Discuss the procedures used to test one of these objectives.

  What is an autonomous variable

What is an autonomous variable? What components of aggregate demand have we specified, in this chapter, as being autonomous?

  Find who is to draft a written contract of sale on return

Frances has lived in an apartment for ten years when she decides to buy a house. Her one-year lease will end on May 1. On April 15, she orally con¬tracts to buy Smith's house for $100,000, with the closing (transfer of the deed) to take place on J..

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