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4. Assume that Q= (1/3)L3-10L -21L represents short run production function in which only labor is variable input. Then
a) Find the number of labor employed where TPL is maximum.
b) Find the number of labor employed where APL is equal to MPL
c) Find the number of labor employed when APL is maximum
d) Find the number of labor employed when MPL is maximum
e) Find stages of production
Congratulations! You are hired in a business organization. In this company the market research department that you are the member recommended to manufacture and market a promising new product (x). After extensive surveys, the research department supported the recommendation with the demand function:
Dx = f (p) = 60 – 3 P
Where Dx is quantity demanded at price P during a month. Financial department has brought the cost function and is given by
C(x) = 72 + 6x
Now the team leader of the market research department ordered you to manipulate the following problems.
Express revenue as a function of X
Expresses profit as a function of X
During the Covid-19 pandemic, the Ayurvedic medicines have an inelastic demand and electronic devices have an elastic demand. Imagine that technological advancement doubles the supply of both products (i.e. quantity supplied at each price is twice as it was earlier) [2.5*2 = 5] i. What will be the equilibrium price and quantity in each market? ii. Which product experiences a larger change in price and which product experiences larger change in quantity.
Justify the need and the relevance of corporate governance in developing countries with particular reference to India
Production function of a firm is given as X=0.5 L ^0.5 K^0.5 price of labor and capital are 5$ and 10$ respectively the firm has a constant cost out lay of $600 find the combination of labor and capital that maximize the farm output and the maximum outputs?
the amount of money you will receive from the bank now, if the bank approved the loan with redemption of r30 000 due 8 months from now with an applicable amount with sample discount rate of 16.5 per year is?
In addition to study environment, which factors do you think should ideally be held constant in a model of the relationship between study hours and final grade?
Is continued over-pumping of aquifers in America in our best interest?
What is microeconomis
Assume compnay ABC faces the following total revenue and cost function TR=8Q and TC=Q2+4Q+2.find the maximum level of output and profit
