A profit-maximizing firm produces one output, y, and uses one input, x, to produce it. The price per unit of the factor is denoted by w and the price of the output is denoted by p. You observe the firm's behavior over three periods and find the following:
Period y x w p
1 1 1 1 1
2 2.5 3 0.5 1
3 4 8 .25
a. Write an equation that gives the firm's profits, pi, as a function of the amount of input x it uses, the amount of output y it produces, the per-unit cost of the input w, and the price of output p.
b. With output on the vertical axis and input on the horizontal axis, draw an isoprofit line for each of the three periods. What are the equations for these lines?
Answers: 1
Business, 22.06.2019 02:50, isbella29
Wren pork company uses the value basis of allocating joint costs in its production of pork products. relevant information for the current period follows: product pounds price/lb. loin chops 3,000 $ 5.00 ground 10,000 2.00 ribs 4,000 4.75 bacon 6,000 3.50 the total joint cost for the current period was $43,000. how much of this cost should wren pork allocate to loin chops?
Answers: 1
Business, 22.06.2019 11:00, jilliand2030
Why are the four primary service outputs of spatial convenience, lot size, waiting time, and product variety important to logistics management? provide examples of competing firms that differ in the level of each service output provided to customers?
Answers: 1
Business, 22.06.2019 14:30, deku6
United continental holdings, inc., (ual), operates passenger service throughout the world. the following data (in millions) were adapted from a recent financial statement of united. sales (revenue) $38,901 average property, plant, and equipment 17,219 average intangible assets 8,883 1. compute the asset turnover. round your answer to two decimal places.
Answers: 2
A profit-maximizing firm produces one output, y, and uses one input, x, to produce it. The price per...
Mathematics, 06.12.2021 14:00
Mathematics, 06.12.2021 14:00
English, 06.12.2021 14:00
Mathematics, 06.12.2021 14:00
Physics, 06.12.2021 14:00