Minimum cost, Business Management

Assignment Help:

Sid and Nancy both need to buy pens for school. The bookstore has only two types of pens:

Basic blue pens (B), which cost $.60 each.

Long-lasting green pens (G), which have twice as much ink as the blue pens, and cost $1.00 each.

Nancy needs the pens to draw multi-colored graphs in her Economics class. For Nancy, these two types of pens are perfect complements. The graphs Nancy must draw require the ink of two basic blue pens for every one long-lasting green pen, and her production function is: q = min(25B,50G). Nancy will need to draw 100 graphs.

Sid needs the pens to write essays in his English class. One essay requires the ink of one basic blue pen or ½ of a long-lasting pen, and ink color is irrelevant. So, for Sid, these two types of pens are perfect substitutes, and his production function is: q = B + 2G. Sid will need to write 10 essays.


Related Discussions:- Minimum cost

Business law today, Might any privacy issues arise as an online company cre...

Might any privacy issues arise as an online company creates a database for generalized marketing campaigns? Explain your answer.”

1. Do you agree that countries are wrong in luring companies, 1. Do you agr...

1. Do you agree that countries are wrong in luring companies by offering incentives and tax benefits? Give reasons in support of your answer.

Describe the communication process, Question: "Presenters, especially s...

Question: "Presenters, especially scientists, seem to have jumped onto the "PowerPoint" bandwagon, and are using visual aids throughout their presentation - from the title slid

Explain the various characteristics of mis, Question 1 Earlier payr...

Question 1 Earlier payroll systems used the systems which were more than process time sheets, print payroll checks and keep total so f annual wages and deductions. Present

Important provisions for employee employment of young person, What are the ...

What are the important provisions for employee employment of young person? The provisions for employment of young person are as below: a. Prohibition of employ of young chil

ERP (SAP).., The process is check-in /drop bag at the airport .i will provi...

The process is check-in /drop bag at the airport .i will provide you with some files about this self-service systems .u need to cover ERP (SAP)

Discuss about the policy and operative managerial decisions, Discuss about ...

Discuss about the policy and operative managerial decisions. Policy and Operative decisions: Policy decisions are very significant, they are occupied by top management, a

Importance of the concept of perception for managers, Question 1: (a) D...

Question 1: (a) Describe how the attribution theory helps to understand an individual perception of other individual's behaviour. (b) Describe the importance of the concept

Explaining clearly the dominant strategies, QUESTION 1 The manager of M...

QUESTION 1 The manager of MTML is considering the possibility of entering the Mauritian Telecommunication Market, where there is only one firm operating, namely Mauritius Telec

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