Question
In: Math
A manufacturer estimates that production (in hundreds of units) is a function of the amounts x...
A manufacturer estimates that production (in hundreds of units) is a function of the amounts x and y of labor and capital used, as f(x,y)=[ 1/3x-1/3+1/3y-1/3]-3. Find the number of units produced when
8 units of labor and 27 units of capital are utilized. Find and interpret
fx (8,27) and fy (8,27).
What would be the approximate effect on production of increasing labor by 1 unit?
A) The number of units produced when 64 units of labor and 125 units of capital are utilized is ___
B) fx( , ) =
c) fy=( , )
d) The approximate effect on production of increasing labor by 1 unit would be ___ units
Solutions
milcah answered 1 year agoRelated Solutions
Based on estimates provided by an efficiency expert, the firm's production function for Good X is...
Based on estimates provided by an efficiency expert, the firm's
production function for Good X is given by Q = 2K + L, where Q is
the quantity of output, K is the quantity of capital, and L is the
quantity of labor.
If this firm uses two units of capital and 2 units of labor,
what is the quantity of output?
Graph the isoquant corresponding to 6 units of output. Label
the axes properly.
What is the marginal product...
The production of a manufacturer is given by the Cobb-Douglas production function f(x,y)=30x^(4/5)y^(1/5) where x represents...
The production of a manufacturer is given by the Cobb-Douglas
production function
f(x,y)=30x^(4/5)y^(1/5)
where x represents the number of units of labor (in hours) and y
represents the number of units of capital (in dollars) invested.
Labor costs $10 per hour and there are 8 hours in a working day,
and 250 working days in a year. The manufacturer has allocated
$4,000,000 this year for labor and capital. How should the money be
allocated to labor and capital to maximize...
The production manager of a clothing manufacturer estimates that the total annual cost of producing men’s...
The production manager of a clothing manufacturer estimates that
the total annual cost of producing men’s suits is given by the
equation: C = 5,000 + 4,100Q – 4.4Q2 + .004Q3. What is the minimum
price the firm can accept to not shut down in the short run? Hint:
Write your answer to two decimal places.
A firm produces 100 units of good A at a total cost of $1,500
and separately 200 units of good B at a cost...
The following amounts were selected from the production report of Chandelier Limited: Actual units in production...
The following amounts were selected from the production report
of Chandelier Limited: Actual units in production 42 000 Equivalent
units (materials) 42 000 Equivalent units (conversion cost) 39 000
Cost per equivalent unit (materials) R1.10 Cost per equivalent unit
(conversion cost) R0.90
Chandelier Limited uses the weighted average method in preparing
its production reports. Chandelier Limited's total production cost
to be accounted for is: (2) a. R81 300 b. R84 000 c. R89 100 d. R72
900
The short-run production function for a manufacturer of DVD drives is as follows:
The short-run production function for a
manufacturer of DVD drives is as follows: Number of Workers (Quantity
of
Labor)
Total Output of DVD Drives0 0 1 70002 200003 300004 360005 400006 42000Calculate the average product (AP) at each quantity of
labor.Calculate the marginal product (MP) at each quantity of
labor.After which worker do diminishing marginal
returns set in?In the region of diminishing marginal returns, what is
happening to marginal cost? Explain.
The production cost of x units of a product during a month is x ^ 2...
The production cost of x units of a product during a month is x
^ 2 dollars. If you want to produce at least 80 units over the next
three months, formulate and solve a nonlinear programming model to
determine the most economical way to produce.
2)Production and sales estimates for May for the Cardinal Co. are as follows: Estimated inventory (units),...
2)Production and sales estimates for May for the Cardinal Co.
are as follows:
Estimated inventory (units),
May 1
18,800
Desired inventory (units), May
31
19,800
Expected sales volume
(units):
Area W
6,300
Area X
8,800
Area Y
7,200
Unit sales price
$12.00
The number of units expected to be sold in May is
a.20,070
b.22,300
c.13,500
d.26,760
3)Finch Company began its operations on March 31 of the current
year. Finch has the following projected costs:
April
May
June
Manufacturing
costs...
The controller of X Company estimates sales and production for the first four months of 2016...
The controller of X Company estimates sales and production for
the first four months of 2016 as follows: January February March
April Sales $30,200 $39,000 $55,000 $25,900 Production in units
1,010 1,670 2,140 2,510 Sales are 40% cash and 60% on account, and
60% of credit sales are collected in the month of the sale. In the
month after the sale, 40% of credit sales are collected. It takes 4
kg of direct material to produce a finished unit, and...
The manufacturer of a brand of mattresses will make x hundred units available in the market...
The manufacturer of a brand of mattresses will make x
hundred units available in the market when the unit price is
p = 150 +
60e0.05x
dollars.
(a) Find the number of mattresses the manufacturer will make
available in the market place if the unit price is set at
$350/mattress. (Round your answer to the nearest integer.)
(b) Find the producers' surplus if the unit price is set at
$350/mattress. (Round your answer to the nearest dollar.)
$
Production estimates for August for Jay Company are as follows: Estimated inventory (units), August 1 12,000...
Production estimates for August for Jay Company are as
follows:
Estimated inventory (units), August 1
12,000
Desired inventory (units), August 31
9,000
Expected sales volume (units), August
75,000
For each unit produced, the direct materials requirements are as
follows:
Material A ($5 per lb.)
3.0 lbs.
Material B ($18 per lb.)
0.5 lb.
The number of pounds of Materials A and B required for August
production is
a.216,000 lbs. of A; 36,000 lbs. of B
b.216,000 lbs. of A; 72,000...
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