Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
A bottling company uses two inputs to assemble bottles of the soft drink Squish: bottling machines and workers. Running the bottling machine is an imperfect substitute for the labor performed by the workers. The production function is:
q = 100 K1/4 L½
The implicit rental rate plus hourly operating cost of the machine is r = $15 per hour; and the workers each earn w = $20 per hour.
The current level of input use for the production of q=1000 bottles is:
K=16 machine hours and L=25 labor hours.
Question: Is this firm producing at minimum cost? If it is minimizing costs, explain why. If it is not minimizing costs, explain how the firm should change its input use to lower its costs.
For full credit, you must discuss the two efficiency conditions for minimizing cost. That is:
Is the bundle technologically efficient? (yes/no/why or why not)
Is it economically efficient? (yes/no/why or why not)
Q1. a. Explain the steps involved in Vogel's approximation method (VAM) of solving Transportation Problem. b. Solve the following transportation problem using Vogel's approximat
QUESTION 1 (a) Distinguish between policy analyses and policy advocacy. (b) Why is policy advocacy important? (c) Why is it questionable that policy analysis can ever "so
QUESTION 1 (a) Explain the following terms relating to culture; power distance, individualism versus collectivism dimension, masculinity versus femininity dimension (b) Explai
QUESTION (a) Explain the difference between countries with high context and low context cultures. Also describe what managers operating in international environments need to p
QUESTION 1 Organisations resist change for many of the same reasons as individuals do. There are also many forces inside an organization that create resistance to changes initi
evaluation of strategic business management
QUESTION 1 (a) Define the concept of span of control (b) Describe the factors that may impact on the choice of the organization structure (c) What are the different busin
Question 1: (a) In most business organisations, communication will flow: 1. Upwards 2. Downwards 3. Horizontally Briefly describe each of the above communication flows.
A bottling company uses two inputs to assemble bottles of the soft drink Squish: bottling machines and workers. Running the bottling machine is an imperfect substitute for the labo
What are the principal objectives of total quality management? The principal objectives of total quality management are:- a. Customer Focus to as Customer Delight. b. Con
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd