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Bess [88]
3 years ago
7

Consider a firm with production function f(L,K)=2L+4K. Assume also that the price of capital r=3 and the price of labor w=2. Wha

t is this firm’s average cost function when both L and K are variable?
Business
1 answer:
In-s [12.5K]3 years ago
4 0

Answer:

b)AC(q)=3/4

Explanation:

Since Marginal product of labor (MPL) =2

And Marginal product of capital (MPK) =4

The price of labor i.e w=2

And, the price of capital i.e R=3

That determines

MPL ÷ W< MPK ÷ R.

Therefore producer will only use capital and k should be Q ÷ 4 and cost will RK i.e. RQ ÷ 4 =3Q ÷4

Hence, average cost is

=TC ÷Q

=3/4.

Here,  Q = quantity and TC = total cost

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A Contracting Officer notifies you of an acquisition for a specific requirement and asks you to assist with market research to i
iragen [17]

Answer: tactical market research

Explanation:

The type of market research that will be used is the tactical market research. A tactical market research is typically done when there is a particular acquisition or need. It is designed in such a way that the specific questions can be answered.

Since the contracting officer notifies of an acquisition for a specific requirement and asks you to assist with market research to identify potential small businesses who could perform the work, the tactical market research should be used.

6 0
3 years ago
Suppose that you are participating in a game show. so far, you have won $10,000 free of tax and can leave with your winnings.how
olga nikolaevna [1]

Answer

I would stop playing and leave with the $10000 free of tax

Explanation

The truth in such games is that they are not designed to be exactly 50/50. There are possibilities for outcomes that will tie or loose. Furthermore, a game that is really 50/50, the house will deduct some commission. These games always have a room for the house advantage, thus for me, I will just go with $10000 fortune!


3 0
3 years ago
Read 2 more answers
A manager is assessing whether a business decision is ethical. She believes that if the benefits of a choice exceed the costs, t
Solnce55 [7]

Utilitarianism is a personal moral philosophy which id being used in this scenario.

<h3>What is Utilitarianism?</h3>

This is the morality that advocates actions that foster happiness or pleasure and maximizes wellbeing of individuals.

The manager believing that the  benefits of a choice exceed the costs is ethicalk as result of her having more profit which will maximize the company' wellbeing.

Read more about Utilitarianism here brainly.com/question/2642866

8 0
2 years ago
Firms outside of trading areas run the risk of being shut out of the single market by the creation of a Multiple Choice ""trade
swat32

Answer:

"trading fortress."

Explanation:

Trade can be defined as a process which typically involves the buying and selling of goods and services between a producer and the customers (consumers) at a specific period of time.

Firms outside of trading areas run the risk of being shut out of the single market by the creation of a "trade fortress." A trade fortress serves as a barrier for the exchange of goods and services.

Free trade policy includes the adoption and implementation of tariffs and quotas between countries.

Trade policies tariffs and quotas will most likely benefit domestic producers of the protected good and harm domestic consumers of the protected good as they're made to pay for the consumption of imported products. Hence, under free trade there are more societal benefits due to the specialization of domestic goods.

Tariffs can reduce both the volume of exports and imports in a country.

6 0
3 years ago
Suppose that Hickory Manufacturing, Inc., a corporation headquartered in North Carolina, believes that it is entitled to a $24,7
iragen [17]

Answer: in a federal court, since the United States is a party to the litigation.

Explanation:

Based on the scenario in the question, in case Hickory Manufacturing elects to sue the United States in order to get back the $24700 federal tax refund which wasn't given to the company, it must be done in a federal court because the the IRS is a federal administrative agency and hence, the matter can't be pursued in the North Carolina state court.

Therefore, the correct option is A "in a federal court, since the United States is a party to the litigation".

6 0
3 years ago
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