Business, 03.07.2019 01:30, briannabridgewater01
You manage a plant that mass-produces engines by teams of workers using assembly machines. the technology is summarized by the production function qequals5kl where q is the number of engines per week, k is the number of assembly machines, and l is the number of labor teams. each assembly machine rents for requals$40 comma 000 per week, and each team costs wequals$6 comma 000 per week. engine costs are given by the cost of labor teams and machines, plus $4 comma 000 per engine for raw materials. your plant has a fixed installation of 5 assembly machines as part of its design. the total cost of producing q units of output (tc) is a. tcequals200 comma 000plus10 comma 000q. for any given level of output q, write the expression for the number of labor teams required.
b. what is the cost function for your plant � namely, how much would it cost to produce q engines?
Answers: 3
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You manage a plant that mass-produces engines by teams of workers using assembly machines. the techn...
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