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

Lending capacity of cash, Assume the banking system contains: Total Rese...

Assume the banking system contains: Total Reserves $ 80 billion Transactions Deposited $800 billion Cash held by public $1

Production theory, value of marginal product

value of marginal product

Choice under uncertainity, what is the reason behind studing this topic ?

what is the reason behind studing this topic ?

Explicit costs, Joe is the owner-operator of Joe’s Haircuts Unlimited. Las...

Joe is the owner-operator of Joe’s Haircuts Unlimited. Last year he earned $100,000 in total revenues and paid $65,000 to his employees and suppliers. During the course

Total revenue, In fall 2006, Pace University raised its annual tuition from...

In fall 2006, Pace University raised its annual tuition from $24,750 to $29,750. Freshman enrollment declined from 1500 in fall 2005 to 1110 in 2006. assuming the demand curve did

Major air pollutants, Major air pollutants can be sub divided into 2 catexa...

Major air pollutants can be sub divided into 2 catexampleories: Inorganic gases and particular gases. (A) Inorganic gases 1. Carbon monoxide (CO) CO is a colourless, lethal gas

Strategies and policies for administrative reforms, STRATEGIES AND POLICIES...

STRATEGIES AND POLICIES FOR ADMINISTRATIVE REFORMS: As stated in a United Nation's Publication, following strategies and policies are necessary to bring about administrative i

Microeconomics, determinants of demand and determinants of supply

determinants of demand and determinants of supply

Williamson''s managerial discretion., how is price and output equilibrium d...

how is price and output equilibrium determined in Williamson''s model of managerial discretion?

Economic rent, Economic Rent - Economic rent is difference between what...

Economic Rent - Economic rent is difference between what firms are willing to pay for the input less the minimum amount required to obtain it. * An Example - There are tw

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