Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Business Economics Expert

Grapes must be harvested by hand. This production function is characterized by fixed proportions - each worker must have one pair of stem clippers to produce any output. A skilled worker with clippers can harvest 50 pounds of grapes per hour.

A) Sketch the grape production isoquants for q=500, q=1,000, and q=1,500 and indicate where on these isoquants firms are likely to operate.

B) Suppose a vinyard owner currently has 20 clippers. If the owner wishes to utilize fully these clippers, how many workers should be hired? what should grape output be?

C) Do you think the choices described in part b are necessarily profit-maximizing? Why might the owner hire fewer workers than indicated in this part?

D) Ambidextrous harvestors can use two clippers - one in each hand - to produce 75 pounds of grapes per hour. Draw an isoquant map (for q = 500, 1,000, 1,500) for ambidextrous harvestors. Describe in general terms the considerations that would enter into an owner's decision to hire such harvestors.

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M91520973

Have any Question?


Related Questions in Business Economics

My null hypothesis relates to shipping costs being higher

"My null hypothesis relates to shipping costs being higher for critical orders than low priority orders. So u1 - u2 less than or equal to 0 is null hypothesis and right-tailed t-test. What I am unsure of is which is the ...

A sample of 189 randomly selected students found that the

A sample of 189 randomly selected students found that the proportion of students planning to travel home for Thanksgiving is 0.66. What is the Standard Deviation of the sampling distribution?

Equipment maintenance costs for manufacturing

Equipment maintenance costs for manufacturing explosion-proof pressure switches are projected to be $125,000 in year one and increase by 3.5% each year through year five. What is the equivalent annual worth of the mainte ...

When comparing monopolization to monopolistic competition

When comparing monopolization to monopolistic competition in the wireless telecommunications world, what are some good differences to touch on in a short paper?

Suppose the market demand and market supply curves are

Suppose the market demand and market supply curves are given by the following equations: QD = 120 - 10P QS = 20P a. Draw a figure of supply and demand representing this market. Be sure to label the axes and intercepts. ( ...

Principles of management assignment task what managers doin

Principles of Management Assignment Task: What Managers Do? In today's modern world, business organizations play important role in the progress of the country. The country's economic welfare primarily depends on how dyna ...

A cartel is branch of an oligopoly there are still a

A cartel is branch of an oligopoly. There are still a handful of large firms and many smaller firms. For instance, the diamond industry and the petroleum industries are examples are oligopolies. However, the main differe ...

A sample of 100 randomly selected students found that the

A sample of 100 randomly selected students found that the proportion of students planning to travel home for Thanksgiving is 0.68. What is the Standard Deviation of the sampling distribution?

What is equi-marginal principle why does it have to be true

What is Equi-marginal principle? Why does it have to be true at interior optimum?

Suppose we have a hypothetical economy with a marginal

Suppose we have a hypothetical economy with a Marginal Propensity to Consume of seventy-five percent (75%). Further assume business investment spending increases by $2,000. By how much will this change affect Gross Domes ...

  • 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