Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Business Economics Expert

Goleta Brewing Company hires only two types of labor, managers and brewing assistants (denoted by M and B, respectively). GBC has the following Cobb-Douglas production function F(M,B) = m5 B5 and wants to produce 10 barrels of pale ale this week. If the wage of managers is $50 per hour and the wage of brewing assistants is $10 per hour, how many managers and brewing assistants should the firm hire (round to nearest whole number)? How does your answer change when the wage of manager’s decreases to $30 per hour and the wage of brewing assistants remain constant? Is this result consistent with your intuition? Solve analytically.

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M91421008

Have any Question?


Related Questions in Business Economics

A is the event that your friend is sick today and b is the

A is the event that your friend is sick today and B is the event that you pass this test. These events are independent and Not mutually exclusive. Calculate the probability that your friend is sick todayy OR you pass thi ...

Discuss three ranges of the aggregate supply curve explain

Discuss three ranges of the aggregate supply curve. Explain changes in the AD-AS macroeconomic equilibrium due to the aggregate demand shifts and due to aggregate supply shifts. Apply the AD-AS model to the two types of ...

What do you recommend that a company do to prevent andor

What do you recommend that a company do to prevent and/or solve subscriber uncollectable issues?

A different ethanol processing facility costs 800000 to

A different ethanol processing facility costs $800,000 to construct but will instead last forever. Every year (starting the year after construction), it produces 10,000 barrels of ethanol and can charge a price of $4 per ...

Why does a government undertakes expansionary fiscal

Why does a government undertakes expansionary fiscal policy? What are the problems of undertaking expansionary fiscal policy? When is fiscal policy more appropriate than monetary policy?

Question 1 co6 from a random sample of 68 businesses it is

Question 1: (CO6) From a random sample of 68 businesses, it is found that the mean time that employees spend on personal issues each week is 4.9 hours with a standard deviation of 0.35 hours. What is the 95% confidence i ...

Consider a country that has been producing a lot of oil and

Consider a country that has been producing a lot of oil and suppose that from one year to the next its oil wells run out. The country will be poorer than previously. According to the two definitions above, is it in a rec ...

Liquidity ratios burts tvs has current liabilities of 258

Liquidity Ratios Burt's TVs has current liabilities of $25.8 million. Cash makes up 48 percent of the current assets and accounts receivable makes up another 28 percent of current assets. Burt's current ratio = .93 times ...

Assignment presidential exampleson 3 august 1990 the united

Assignment: Presidential Examples On 3 August 1990, the United Nations Security Council passed Resolution 600 condemning the Iraqi invasion of Kuwait and demanding that Iraq unconditionally withdraw all forces deployed i ...

A report claims that for the investment portfolios with a

A report claims that for the investment portfolios with a single stock had a standard deviation of 0.57, while the returns for portfolios with 31 stocks have a standard deviation of 0.325. Explain how the standard deviat ...

  • 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