Calculate the firms short-run total cost curve, Managerial Economics

Assignment Help:

A firm producing hockey sticks has a production function given by

X = 2 KL

In the short-run, the firm's amount of capital equipment is fixed at K = 1000. The rental rate for capital (PK) is PK = v = Re 1.00; and the wage rate for L is PL = w = Rs 4.00.

a) Calculate the firm's short-run total cost curve. Calculate the short-run average cost curve.

b) What is the firms short-run marginal cost function? What are the STC, SATC & SMC for the firm if it produces25 hockey sticks?

 


Related Discussions:- Calculate the firms short-run total cost curve

Williamson model, williamson model and managerial discretion about its obje...

williamson model and managerial discretion about its objective and statement of problem

Question, what is deadweight loss calculation?

what is deadweight loss calculation?

Elasticity, determinants of price expectation of elasticity

determinants of price expectation of elasticity

Per capita income to compare standard of living, PROBLEMS OF USING PER CAPI...

PROBLEMS OF USING PER CAPITA INCOME TO COMPARE STANDARD OF LIVING OVER TIME 1)       The composition of output may change. e.g. more defence-related goods may be produced and

Elasticity and consumption expenditure, The relationship between, total exp...

The relationship between, total expenditure and price elasticity of demand has summed up in the below table: Table: Elasticity and Consumption Expenditure Elas

Intellectual opponents of globalization, Consider the following hypothetica...

Consider the following hypothetical story: Last spring, there was an outbreak of a nasty disease known as cyclosporiasis, which was eventually traced to Guatemalan raspberries. Tog

Limitations of uneven distribution of income and wealth, Limitations of Une...

Limitations of Uneven Distribution of Income and Wealth Unlike the historical experience of the now developed countries, the rich in contemporary Third World Countries are not

Effects of delegating monetary policy, Question: (a) Under what condit...

Question: (a) Under what conditions would a central bank be considered independent. (b) Discuss the effects of delegating monetary policy making to an independent agent on

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