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

What is the major function of commercial banks?, They take deposits which m...

They take deposits which mean borrow money and make loans which means lend money. The interest rate they pay on the deposits is less than the interest rate they charge on their loa

Average revenue, meaning of average revenue

meaning of average revenue

Law for diminishing marginal returns, The Law for Diminishing Marginal Retu...

The Law for Diminishing Marginal Returns - As use of an input increases in equal increments, a point will be approched at which the resulting additions to output decreases

Managerial theories of the firms, Managerial theories of the firms

Managerial theories of the firms

Developments of Dd theory, Recent developments in demand theory

Recent developments in demand theory

Market structers, what are the majotr sources of monopoly

what are the majotr sources of monopoly

Production, given P=120-Q TC=Q(to the power 2)+ 16 1-derive the total...

given P=120-Q TC=Q(to the power 2)+ 16 1-derive the total revenue function 2-calculate profit mazimization output for a-perfect competitive firm b-monopoly 3-explain whi

Law of conservation of mass, steps for law of coservation of mass

steps for law of coservation of mass

Game theoretic approach , Normal 0 false false false EN...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Production with one variable input, What is production with one variable in...

What is production with one variable input

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