(Answered) 1 a firm with a cd production function q 15k 05 l04 plans

Economics

1. A firm with a CD production function Q = 1.5K 0.5 L0.4 plans to produce 900 units of output per day. Assume the prices of labor and capital are $50 and $100 a day.

(a) What is the firm's least cost combination of factors for production of 900 units of output?

(b) Assuming no fixed cost, what is the market price of this good if this firm makes a $2,000 profit each day?

View complete question

Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91545459
Price:- $20

Verified Expert

Priced at $40 Now at $20, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Microeconomics

Question very time we have to make a choice we are faced

Question: Very time we have to make a choice we are faced with an opportunity cost. Using an example in your professional life, identify a situation where you were presented with a choice, the opportunity cost of the cho ...

Question describe the current problem that the annual

Question: Describe the current problem that the annual budget deficit presents to the US. Indicate what the impact of not solving the issue will cause and why you think it has not been solved. On a scale of 1 (Low) to 5 ...

Question 1 suppose the velocity of money is constant and

Question: 1. Suppose the velocity of money is constant and potential output grows by 3% per year. By what percentage should the money supply grow in order to achieve the following inflation rate targets? 2. Suppose the v ...

Suppose that a worker in grainland can grow either 40

Suppose that a worker in Grainland can grow either 40 bushels of corn or 20 bushels of oats per year, and a worker in Farmfields can grow either 20 bushels of corn or 50 bushels of oats per year. There are 200 workers in ...

Question why might you expect to see flat royalty payments

Question: Why might you expect to see flat royalty payments in home-based franchises but revenue-based royalties in franchisees that operate from commercial buildings? a. Is your explanation consistent with the fact that ...

Question 1vertical integration and franchising fees suppose

Question: 1.Vertical Integration and Franchising Fees. Suppose an upstreammanufacturer sells a product A which he can produce for a marginal cost of4 dollars to two downstream distributors who compete in a Cournot game.T ...

Question explain why government budget deficits crowd out

Question: Explain why government budget deficits crowd out private investment spending in a closed economy, but crowd out net exports in a small open economy. Assume prices are flexible and that factors of production are ...

Question economics conceptsreview your week 1 learning

Question: Economics Concepts Review your Week 1 Learning Activities, especially Ch. 1 of Focus on Personal Finance, Khan Academy Resources and Video Reflection, and Investopedia Resources located in the "Additional Readi ...

Question the demand curve for round trip air transportation

Question: The demand curve for round trip air transportation between cities is given by Q= 5,000P^-0.8 X^0.2 y^0.5 z^.2 where P is price, x is flying time, y is air distance, and z is total population in the two cities. ...

Question what advantages do the two countries have that

Question: What advantages do the two countries have that make one or both of them candidates for trade and investment for that specific industry? Industry: Hospitality (Hotel) Countries: UAE and United Kingdom

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Microeconomics Expert