My orders
How it works
Examples
Reviews
Blog
Homework Answers
Submit
Sign in
How it works
Examples
Reviews
Homework answers
Blog
Contact us
Submit
Fill in the order form to get the price
Subject
Select Subject
Programming & Computer Science
Math
Engineering
Economics
Physics
Other
Category
Microeconomics
Finance
Accounting
Macroeconomics
Economics of Enterprise
Other
Deadline
Timezone:
Title
*
Task
*
3. (a) A firm produces margarine using vegetable oils and wooden paddles. Themore paddles the firm uses, the more efficiently the oils can be mixed, andso the less oil is required. The table below presents a variety of ways thatthey could produce 100kg of margarine.Oils 100 200 300 400 500 600 750 1000Paddles 60 30 20 15 12 10 8 6The price of paddles (and workers to use them) is £15, and the price of theoils (per litre) is £1.(i) Using a table, calculate the cost of each of these methods. Which method is cheapest and how much does it cost? [4 marks](ii) Draw the isoquant for 100kg of margarine and the isocost corresponding to the cheapest method above. [4 marks](iii) Can you say anything about whether the method you identified in (i) minimises costs? [3 marks](iv) A fellow student suggests to you that it is technically efficient to produce 100kg of margarine. Do you agree? [3 marks]
I need basic explanations
Special Requirements
Upload files (if required)
Drop files here to upload
Add files...
Account info
Already have an account?
Create an account
Name
*
E-mail
*
Password
*
The password must be at least 6 characters.
I agree with
terms & conditions
Create account & Place an order
Please fix the following input errors:
dummy
