production function, Business Economics

Assignment Help:
Suppose a firm’s budget were large enough to employ 100 units of either labor or capital, the
cost of a unit of labor being the same as a unit of capital. The production function is X = KL .
Given that output must be at least 20, what is the maximum number of people the firm could
employ?

Related Discussions:- production function

OLIGOPOLY, EXPLAIN WHY INTERDEPENDENCE IN OLIGOPOLY RESULTS IN A TENSION BE...

EXPLAIN WHY INTERDEPENDENCE IN OLIGOPOLY RESULTS IN A TENSION BETWEEN COOPERATION AND COMPETITION.

Do policies that work in one country always work in another, Do policies th...

Do policies that work in one country always work in another? Less developed countries are similar but diverse in terms of history, institutions, culture and governance and man

Fiscal and monitory olicy, Assess the impact of fiscal and monetory policy ...

Assess the impact of fiscal and monetory policy on business organisations and their activities

General agreement on tariff and trade, Question 1: (a) Explain the cor...

Question 1: (a) Explain the core principles of the General Agreement on Tariff and Trade (GATT). (b) Do you think the additional principles introduced by the WTO in 1995 c

What are the critics of advocates of world bank, What are the critics of ad...

What are the critics of advocates of World Bank in promotion of development? Critics of the World Bank argue: • A one-size-fits all strategy which does not take account

Less developed countries economies grow by primary sector, Can less develop...

Can less developed countries economies grow by developing its primary sector as agriculture? Less developed countries economies can grow by developing its primary sector as ag

Is the washington consensus actually a consensus, Is the Washington Consens...

Is the Washington Consensus actually a consensus? The Washington agreement thinking dominates development thinking in the developed world but is challenged through less develo

Growth stock and p/e ratio , Part 1 : Show the P/E ratio for each company. ...

Part 1 : Show the P/E ratio for each company. Answer the question: Which of these two firms seems to be more of a "growth stock"? Explain the reasons for your choice. Part 2:

Mr, using 8 units of production resource to produce 10,000 c0ws by a farmer...

using 8 units of production resource to produce 10,000 c0ws by a farmer how many sheep could he have produced

Is low savings a problem, Is low savings a problem? Countries along wi...

Is low savings a problem? Countries along with low savings are caught into the vicious circle of poverty: there low savings, implies low investment low productivity therefore

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