Managerial economics, economics, Microeconomics

Assignment Help:

A company a product using labor (L) and raw material (R) with Q = 80L^0.2 R^0.8. If labor costs $20 per hour and raw material $40 per unit, what is the optimal combination (least cost) of labor and raw material if the company wants to produce 1602 units of output? [The answers are may not be round numbers. You can round to 1 decimal point]

Related Discussions:- Managerial economics, economics

Chamberlins model, lung run eqiulibrium

lung run eqiulibrium

Marginal utility theory, discuss whether marginal utility is a realistic pi...

discuss whether marginal utility is a realistic piece of economy analysis in a consumer demand

Mrts and mrs, similarities

similarities

Assignment, Please provide detailed answers, showing all your work, to all ...

Please provide detailed answers, showing all your work, to all five sections in problem 15.9 in the Nicholson and Snyder book. This is an individual take home task due at 11:59pm o

Essentials of development administration for economics, Essentials of Devel...

Essentials of Development Administration Development administration, to be effective and efficient, needs to have the following ingredients: Administrative Innovation:

Public-private partnerships, Public-Private Partnerships (PPPs):A form of f...

Public-Private Partnerships (PPPs):A form of financing public investment and sometimes the direct provision of public services, in that finance is provided by private investors (in

Depreciation, Depreciation: This signifies the loss of value from an existi...

Depreciation: This signifies the loss of value from an existing stock of real capital (for an individual company or for whole economy), reflecting normal wear-and-tear of machinery

What is the difference between price value and price level, What is the dif...

What is the difference between price value and price level? Price value is the value of commodity bought by the consumer at a certain price from the market, while, price level

Consumer surplus, I purchase a used stove for $155 when I was willing to pa...

I purchase a used stove for $155 when I was willing to pay $185. If a new stove costs $375,what is my consumer surplus

Diminishing marginal returns, law of diminishing marginal returns does no...

law of diminishing marginal returns does not hold then output of the world can be produced in a flower pot. Explain?

Write Your Message!

Name

Email id

Message

Verfication Code

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!

Submit Assignment

User Account

All Pages