Business, 28.11.2020 04:20, emmapizano
The production function for the personal computers of DISK, Inc., is given by
q = 10K^(0.5)L^(0.5)
where q is the number of computers produced per day, K is hours of machine time, and L is hours of labor input. DISK’s competitor, FLOPPY, Inc., is using the production function
q = 10K^(0.6)L^(0.4)
a. If both companies use the same amounts of capital and labor, which will generate more output?
b. Assume that capital is limited to 9 machine hours, but labor is unlimited in supply. In which company is the marginal product of labor greater? Explain.
c. Is there a maximum quantity that each firm can produce under fixed capital (from b)? If so, what is it?
Answers: 2
Business, 21.06.2019 21:00, castiaulii16
The market for corn in country a is highly competitive. at the current market price of $5/bushel there is a shortage of 100,000 bushels of corn in this country. media reports claim that the price of corn will rise drastically in the near future. according to these reports, the neighboring country b had witnessed a similar situation recently. at the same price, the shortage in country b was also 100,000 bushels and eventually the equilibrium price in b went up to $10/bushel. both countries are known to have equal number of corn producers and the market supply of corn is identical at all prices. this, combined with the fact that consumers in the two countries also have similar tastes and preferences, led the media to conclude that the price of corn in country a would soon be as high as $10/bushel. the new equilibrium price turns out to be below $10/bushel, what inferences can be drawn?
Answers: 3
Business, 22.06.2019 07:50, sis212
Connors academy reported inventory in the 2017 year-end balance sheet, using the fifo method, as $154,000. in 2018, the company decided to change its inventory method to lifo. if the company had used the lifo method in 2017, the company estimates that ending inventory would have been in the range $130,000-$135,000. what adjustment would connors make for this change in inventory method?
Answers: 1
The production function for the personal computers of DISK, Inc., is given by
q = 10K^(0.5)L^(0.5)<...
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