Question
In: Math
Suppose that one factory inputs its goods from two different plants, A and B, with different...
Suppose that one factory inputs its goods from two different plants, A and B, with different costs, 4 and 6 each respective. And suppose the price function in the market is decided as p(x,y)= 100−x−y where x and y are the demand functions and 0≤x,y. Then as
x=
y=
the factory can attains the maximum profit,
Solutions
milcah answered 2 years agoRelated Solutions
Suppose that one factory inputs its goods from two different plants, A and B, with different...
Suppose that one factory inputs its goods from two different
plants, A and B, with different costs, 4 and 6 each respective. And
suppose the price function in the market is decided as p(x,y)=
100−x−y where x and y are the demand functions and 0≤x,y0. Then
as
x=
y=
the factory can attains the maximum profit,
Activity-based costing problem Factory A produces golf carts. One of its plants in Texas produces two...
Activity-based costing problem
Factory A produces golf carts. One of its plants in Texas
produces two versions of carts: a basic model and a deluxe model.
The deluxe model has a sturdier frame, a higher horsepower engine,
bigger tires, and softer seats. At the beginning of the year, the
following data were prepared by the controller’s office for this
Texas plant:
Basic
Deluxe
Expected Quantity to
Produce
20,000
carts
10,000 carts
Selling
Price
$
1,800
$ 3,600...
Suppose there are two inputs in the production function, labor and capital, and these two inputs...
Suppose there are two inputs in the production function, labor
and capital, and these two inputs are perfect substitutes. The
existing technology permits 5 machines to do the work of 2 workers.
So the production function is f(E, K) = 2K + 5E. The firm wants to
produce q units of output, where q > 0 is some number. Suppose
the price of capital is $10 per machine per hour. What combination
of inputs will the firm use if the...
Suppose there are two inputs in the production function, labor and capital, and these two inputs...
Suppose there are two inputs in the production function, labor
and capital, and
these two inputs are perfect substitutes. The existing
technology permits 3 machines to do the work of 2
worker. So F(E,K)=2K+3E. The firm wants to produce 60 units of
output. Suppose the price of capital is
$10 per machine per hour. What combination of inputs will the
firm use if the wage rate is $10 or $15 or
$20 per hour? What if the firm wants to...
a. Suppose you manage a factory that has two plants. Your data shows that plant X...
a. Suppose you manage a factory that has two plants. Your data
shows that plant X produces more output per day compared to plant
Z. As a result of this data, you decide to place all new hires at
plant X. Have you made the right decision? If you made the right
decision explain why. If you did not make the right decision,
explain how you should make the decision.
b. Suppose the prices of some goods goes up. Does...
a. Suppose you manage a factory that has two plants. Your data shows that plant X...
a. Suppose you manage a factory that has two plants. Your data
shows that plant X produces more output per day compared to plant
Z. As a result of this data, you decide to place all new hires at
plant X. Have you made the right decision? If you made the right
decision explain why. If you did not make the right decision,
explain how you should make the decision.
b. Suppose the prices of some goods goes up. Does...
Suppose there are two consumers, A and B, and two goods, X and Y. The consumers...
Suppose there are two consumers, A and B, and two goods, X and
Y. The consumers have the following initial endowments and utility
functions:
W X A = 2 W Y A = 9 U A ( X , Y ) = X 1 3 Y 2 3 W X B = 6 W Y B
= 2 U B ( X , Y ) = 3 X + 4 Y
Suppose the price of X is PX=2 and the...
Suppose you have a world with two goods, A and B. Suppose the price of good...
Suppose you have a world with two goods, A and B. Suppose the
price of good B increases and good A is an inferior good. Explain,
using concepts of income effect and substitution effect, how do you
know that consumption of good A will increase. Suppose A was a
normal good. Would consumption of A increase or decrease.
Suppose an agricultural scientist plants two different types of corn seed to test the claim that...
Suppose an agricultural scientist plants two different types of
corn seed to test the claim that they produce the same average
yield. The seeds are planted on eight randomly selected plots of
land, each of which has one half of the plot planted with Type 1
seed and the other half planted with Type 2 seed. Calculate a 95%
confidence interval estimate for the mean difference between the
yield for Type 1 seed (Population 1) and Type 2 seed (Population...
Suppose that Tim gets utility from only two goods, rice (R) and beans (B) and his...
Suppose that Tim gets utility from only two goods, rice (R) and
beans (B) and his preferences are represented by the utility
function U(R,B) = R^2 * B^5. If Tim's income is 42 and price of
rice is 1, price of beans is 3. How many units of rice and beans
will he choose? Tim’s income elasticity of demand for beans?
Explain clearly plz.
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