Where should you expand production

Assignment Help Business Economics

Reference no: EM13149515

You need to expand production, either in the US or in China. Currently, your average American workers produce 100 units per hour and Chinese workers produce only 16 units per hour. But your American workers will cost you $20 per hour and your Chinese workers cost you $3 per hour. a.Graph as much this information as possible as isocost and isoquant information. b.Where should you expand production? c.Looking ahead into the near future, you forecast that your American workers will cost you $25 per hour, but demand for labor in China will drive up costs per worker there to $5 per hour. How does this alter the isocost and isoquant graph? d.Given these forecasts, where should you expand production?

Reference no: EM13149515

Questions Cloud

What is depreciation in this year : Calculate GNP, GDP, and aggregate income. GDP = $ GNP = $ Aggregate income = $ b) What is depreciation in this year? Depreciation = $ c) What is NDP? NDP = $

Probability tree showing marginal-conditional probability : The central district students failed. Develop a probability tree showing all marginal, conditional and joint probabilities. Develop a joint probability table.

Alculate the correlation coefficient : alculate the correlation coefficient. If Hammer selects a pair of pants at random, what is the expected price? What is the variance of the price?

To what temperature (in oc) must the gas be heated : A cylinder of propane gas at 25oC has a volume of 32.0 liters. The pressure of the gas in the cylinder is 9 atm. To what temperature (in oC) must the gas be heated to increase the pressure by 2 atm? Assume ideal behavior

Where should you expand production : How does this alter the isocost and isoquant graph? Given these forecasts, where should you expand production?

Evidence of formation of panethnic identity : The term Hispanic is an umbrella terms for people from many different Spanish-speaking cultures in the Western Hemisphere. Although the grouping includes a wide range of cultures there is evidence of the formation of a panethnic identity. What do ..

What is total stockholders equity : On January 1, 2009 Gucci Brothers Inc. started the year with a $500,000 credit balance in retained earnings and $600,000 balance in capital stock. During 2009, the company earned net income of $100,000, declared a dividend of $15,000, and issued m..

Geologists can estimate the age of rocks by their uranium : Geologists can estimate the age of rocks by their uranium-238 content. The uranium is incorporated in the rock as it hardens and then decays with first-order kinetics and a half-life of 4.5 billion years

How many grams of no2 will be produced : how many grams of NO2 will be produced when 2.0 L of nitrogen at 840 mmHg and 24 C are completely reacted N2+2 O2-----2 NO2

User Account

All Pages