ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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1. Given the following input-output relationship: O Labor Output O 1 10 Inputs X1 X2 2 14 A 825 1,350 3 19 4 5 27 44 a. Assuming that the output price is Php20.00 per unit and the variable input costs Php180.00 per unit, determine the optimum innut level using the total approach. B 900 1,130 2. The different input combinations of X1 and X2 that produce the same amount of product Y are given below: Combination 6 7 8 57 69 71 C 975 935 9 72 D 1,050 770 E 1,125 620 F 1,200 525 a. Compute for the MRTS. b. Assuming that X1 and X2 are worth Php13.00 per unit and Php5.00 per unit, respectively, find for the least-cost input combination. Use the marginal approach. If the price of X2 becomes half that of X1, what is the new least-cost combination? Use the marginal approach. c.
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Transcribed Image Text:1. Given the following input-output relationship: O Labor Output O 1 10 Inputs X1 X2 2 14 A 825 1,350 3 19 4 5 27 44 a. Assuming that the output price is Php20.00 per unit and the variable input costs Php180.00 per unit, determine the optimum innut level using the total approach. B 900 1,130 2. The different input combinations of X1 and X2 that produce the same amount of product Y are given below: Combination 6 7 8 57 69 71 C 975 935 9 72 D 1,050 770 E 1,125 620 F 1,200 525 a. Compute for the MRTS. b. Assuming that X1 and X2 are worth Php13.00 per unit and Php5.00 per unit, respectively, find for the least-cost input combination. Use the marginal approach. If the price of X2 becomes half that of X1, what is the new least-cost combination? Use the marginal approach. c.
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