Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Microeconomics Expert

A firm has the following production function: q = KL where q = output, L = labour measured in person hours, K = capital measured in machine hours. (The marginal product of labour is K in this case and the marginal product of capital is L here.) The wage is €1 per hour and the capital rental charge is €1 per hour. Determine the firm's minimum cost of making 1 unit of output

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M9415183
  • Price:- $10

Priced at Now at $10, Verified Solution

Have any Question?


Related Questions in Microeconomics

Question a video rental store has estimated that the

Question: A video rental store has estimated that the inverse demand equation for video rentals by a typical customer is P = 6.50 - 0.5Q. The marginal cost of each rental is $2.50. If the video rental store engages in tw ...

Question when state health insurance exchanges become

Question: When state health insurance exchanges become effective in 2014, low-income individuals will qualify for premium credits and/or subsidies, where the amount of credit or subsidy will be determined individually fo ...

Question in 2001 and 2002 political opinion was bitterly

Question: In 2001 and 2002, political opinion was bitterly divided between the Republicans, who wanted to cut high marginal personal income tax rates and offer retroactive benefits to corporations by canceling the altern ...

Question economic homework please help1 identify and

Question: Economic homework, please help 1. Identify and explain the positive attributes and negative consequences of Neoliberalism for women in developing countries (a.k.a. Third World countries or the Global South). (A ...

Question consider the number of people arriving at the

Question: Consider the number of people arriving at the Student Center for coffee between 10 A.m. and 11 A.M. on a given day. For this random variable X, it is known that E(X) = 100 and var(X) = 10. a. Give an upper boun ...

Question select an organization with which you are familiar

Question: Select an organization with which you are familiar or an organization where you work. Develop a 15- to 20-slide Microsoft® PowerPoint® presentation to be presented to the CEO's executive committee that addresse ...

Question melinda gibbs would like for her descendants to be

Question: Melinda Gibbs would like for her descendants to be able draw $40,000 every year for ever starting 30 years from now. She has found a mutual fund that will provide her a guaranteed 10% return forever. She will m ...

Question consider a monopoly with a horizontal marginal

Question: Consider a monopoly with a horizontal marginal cost schedule. If a tax t is imposed on the monopolist, show that: (a) Price increases by exactly half the tax if the monopolist faces a linear demand curve p = a ...

Question a recent graduate has submitted his application to

Question: A recent graduate has submitted his application to the World Bank for a position in the Young Professional Program. He knows the Bank hires 4% of its applicants. Only some of the applicants receive an interview ...

Question research the role of an administrator in contrast

Question: Research the role of an administrator in contrast to a non-management staff member in regards to risk management of an ADA (Americans With Disabilities Act) or workers' compensation incident in a typical health ...

  • 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

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As