Calculate cost of a unit of labor, Managerial Economics

Assignment Help:

Suppose a firm's budget were large enough to employ 100 units of either labor or capital, the cost of a unit of labor being the same as a unit of capital. The production function is X = KL. Given that output must be at least 20, what is the maximum number of people the firm could employ?


Related Discussions:- Calculate cost of a unit of labor

Assignment, analyze the method by which firm can allocate the given adverti...

analyze the method by which firm can allocate the given advertising budget between different media of advertisement

Quantitative Analysis, How has quantitative analysis changed the current sc...

How has quantitative analysis changed the current scenario in the management world today? Focus must be on the business world specifically in the context of Asian Countries.

The monetary account, THE MONETARY ACCOUNT Also called official financ...

THE MONETARY ACCOUNT Also called official financing, this comprises the financial transactions of the government (handled by the central bank) needed to offset any net outflow

Brief note, principles of time perspectives

principles of time perspectives

PRICE CUTS FOR MEDICINE case study, 1. What kind of market structure is inv...

1. What kind of market structure is involved for the sale of medicines and vitamins? 2. What can be said about barriers to entry in this market? 3. Might there be a change in mar

Opportunity costs, Why do the inclusion of opportunity costs in cost-and-su...

Why do the inclusion of opportunity costs in cost-and-supply analyses help individuals make better decisions and improve outcomes?

Example on changes in fixed costs and profit maximisation, Q. Example on Ch...

Q. Example on Changes in fixed costs and profit maximisation? What if arena owner in the illustration above triples the fee for the subsequent concert but all other factors are

Substitution effect on law of demand, Substitution Effect on law of demand ...

Substitution Effect on law of demand When price of a commodity falls it becomes comparatively cheaper if price of all other related goods, particularly of substitutes, remain c

Arguments for uneven distribution of income and wealth, Arguments for Uneve...

Arguments for Uneven Distribution of Income and Wealth The basic economic argument to justify large income inequality was the assumption that high personal and corporate income

Write Your Message!

Captcha
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