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Suppose the process of producing lightweight panas by Poly's Parkas is described by the con the number of parkas produced, K 1 number of computerized atting-che hours, and the number of person-hours of laber in addson to capital and labor, 530 worth of raw materassed in the production of each parka and OA K-0.0440 by mang cost subject to the production function, derive the cost minimieng demands for and Las a Sunction of autput (a) wage rates (w), and rental rates on machines in The cost-minimizing demands for K and L are OB. K-0.044 Oc. K-0.0110 OD -0.0110 300-40* Use these resus constant $30 per The total cost function (10) 0.8 OE none of the above.. 08 (TC) OA TC-31011640 OB TC-130 640 -0.20 40 and L=0.0440 +40 and L-0.011g and L 0.011g the total cost function at a, cosas c OA TC-04 OTC-0.055-304 OCTC 0.05(w OP TC-000504030 OE none of the above and L=0.044q 08 0.2 rets to scale +40. This process requires udled workers, who eam $16 per hour The rental rate on the mad ined in process is $32 per hour At these factor prices what are total costs as a function of up Total OG TO 1011 640 OD TC 31011 O TC 31311 Destha Motnology exhibit decreasing, constant or increasing retums to scale? 40 This technology exhibits Poly's Pant produce 5000 parkas per wesh. At the factor prices given above how many workers should the fem hire and how many machines should it rent? (Enter your ana respons rounded to two decimal places) The firm should use work hour The firm shaad machine ou What are the marginal and average costs at t level of produc Marginal cost is per unit of output Average cost is

Suppose the process of producing lightweight panas by Poly's Parkas is described by the con the number of parkas produced, K 1 number of computerized atting-che hours, and the number of person-hours of laber in addson to capital and labor, 530 worth of raw materassed in the production of each parka and OA K-0.0440 by mang cost subject to the production function, derive the cost minimieng demands for and Las a Sunction of autput (a) wage rates (w), and rental rates on machines in The cost-minimizing demands for K and L are OB. K-0.044 Oc. K-0.0110 OD -0.0110 300-40* Use these resus constant $30 per The total cost function (10) 0.8 OE none of the above.. 08 (TC) OA TC-31011640 OB TC-130 640 -0.20 40 and L=0.0440 +40 and L-0.011g and L 0.011g the total cost function at a, cosas c OA TC-04 OTC-0.055-304 OCTC 0.05(w OP TC-000504030 OE none of the above and L=0.044q 08 0.2 rets to scale +40. This process requires udled workers, who eam $16 per hour The rental rate on the mad ined in process is $32 per hour At these factor prices what are total costs as a function of up Total OG TO 1011 640 OD TC 31011 O TC 31311 Destha Motnology exhibit decreasing, constant or increasing retums to scale? 40 This technology exhibits Poly's Pant produce 5000 parkas per wesh. At the factor prices given above how many workers should the fem hire and how many machines should it rent? (Enter your ana respons rounded to two decimal places) The firm should use work hour The firm shaad machine ou What are the marginal and average costs at t level of produc Marginal cost is per unit of output Average cost is

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Suppose the process of producing lightweight panas by Poly's Parkas is described by the 4-30-40 where is the number of parkas produced, Kthe number of computerized attching-machine hours and the number of person-hours of labor. In addition to capital and labor $30 worth of massed in the production of each parka Note that and 30(08XL-40) 0.20 By meaning ost subject to the production function, derive the cost minimizing demands for K and Las a function of output ( wage rates (w), and rental rates on machines The cost-minimizing demands for K and L are OA K=0.0440 OB K=0.0440 Oc. K=0.0110 K=0.0110 300-40 OD. K=0 0.2 02 0.8 0.8 +40 and L=0.0440 +40 and L 0.011g and L 0.011q and L=0.044q OE none of the above. Use these resus to derive the total cost function that comes constant 530 per un The total cost function (1) OA TC-00540 OBTC-0.055 (+304 OCTC=0.055(w/92, OP TC-000-40-30 OE none of the above 02 oc 08 0.2 +40 OA TC-31011640 OB TC-130 640 OC TC-10119-640 0070 31311 OF TC-310114 Does the Michnology exhibe decreasing, constant or increasing retums to scale? The firm should use worker hours The fim should use machu What are the marginal and average costs at this level of producten? Marginal cost is $ per unit of output Average cos This process requires odled workers, who eam $15 per hour. The rental rate on the machines used in the process is $32 per hour At these factor prices, what are total costs as a function of q Totalcals (TC) -40 w and the This technology extr Pully's Parka plan to produce 5000 parkas per weh. At the factor prices given above how many workers should the tim hire and how many machines should it rent? (Enter your ramaining respons rounded to two decimal places)
Transcribed Image Text:Suppose the process of producing lightweight panas by Poly's Parkas is described by the 4-30-40 where is the number of parkas produced, Kthe number of computerized attching-machine hours and the number of person-hours of labor. In addition to capital and labor $30 worth of massed in the production of each parka Note that and 30(08XL-40) 0.20 By meaning ost subject to the production function, derive the cost minimizing demands for K and Las a function of output ( wage rates (w), and rental rates on machines The cost-minimizing demands for K and L are OA K=0.0440 OB K=0.0440 Oc. K=0.0110 K=0.0110 300-40 OD. K=0 0.2 02 0.8 0.8 +40 and L=0.0440 +40 and L 0.011g and L 0.011q and L=0.044q OE none of the above. Use these resus to derive the total cost function that comes constant 530 per un The total cost function (1) OA TC-00540 OBTC-0.055 (+304 OCTC=0.055(w/92, OP TC-000-40-30 OE none of the above 02 oc 08 0.2 +40 OA TC-31011640 OB TC-130 640 OC TC-10119-640 0070 31311 OF TC-310114 Does the Michnology exhibe decreasing, constant or increasing retums to scale? The firm should use worker hours The fim should use machu What are the marginal and average costs at this level of producten? Marginal cost is $ per unit of output Average cos This process requires odled workers, who eam $15 per hour. The rental rate on the machines used in the process is $32 per hour At these factor prices, what are total costs as a function of q Totalcals (TC) -40 w and the This technology extr Pully's Parka plan to produce 5000 parkas per weh. At the factor prices given above how many workers should the tim hire and how many machines should it rent? (Enter your ramaining respons rounded to two decimal places)
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