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)
A firm must balance the factors used to determine the pay ranges of their employees balancing the job demands with sufficient pay levels to encourage employees to undertake the new
QUESTION 1 Although all teams are groups, not all groups are teams. Discuss this statement with reference to any organisation of your choice QUESTION 2 Mr Fenworth,
b. A paper mill produces two grades of paper viz., X and Y. Because of raw material restrictions, it cannot produce more than 400 tons of grade X paper and 300 tons of grade Y pape
QUESTION 1 "Communication in an organization is about sharing of feelings, thoughts, ideas and emotions." Discuss this statement in light of (a) The process of communicatio
QUESTION 1 (a) What is non-verbal communication? (b) Non-verbal communication is a complex process leading to misunderstanding and misinterpretation. Examine this statement
Question 1: "The overall attractiveness of a country as a market/investment site depends on balancing the likely long-term benefits of doing business in that country against th
QUESTION (a) In today's economic climate, the dominant concerns of most businesses focus on efficiency, quality and profitability and the quest to find a way to narrow these
Question 1: You are the chief actuary to a general insurance company. The company's main lines of business are employers' liability, marine, aviation and private motor insuran
consider what constitutes ‘responsible business’
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