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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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Globalization has led to: Group of answer choices lower operational efficiency, as firms must transport raw materials and finish
jekas [21]

Answer: Option D

Explanation: Globalization refers to the free interaction among different countries of the world. Globalization results in free transfer of resources and technology around the world.

Due to globalization  a consumer of India can enjoy a product or service provided by a supplier of america. Thus, the competition increases to its best because off globalization. Therefore, the consumers are willing to purchase the best product in the market. resulting in increase in quality and decrease in cost.

Hence from the above we can conclude that the correct option is D.

4 0
3 years ago
Describe two financial goals that you would want to meet before you begin investing. Explain why you would want to reach those g
salantis [7]
One would be getting out of credit card debt. 
<span>another would might be having a savings account in case you lose a job.</span>
4 0
3 years ago
11.   Before adding cream to a simmering soup, you need to
TEA [102]

Answer:

simmer the cream

Explanation:

Don't add cold milk directly into a hot liquid. Instead, whisk small amounts of the hot liquid into the cold milk. When the milk is warm, then add it into the hot liquid. This process is called tempering. Or, simply heat the milk gently in a saucepan before adding it.

6 0
3 years ago
A company's Inventory balance at 12/31/16 was $188,000 and $200,000 at 12/31/15. Its Accounts Payable balance at 12/31/16 was $8
Ghella [55]

Answer:

d. $704,000

Explanation:

The computation of the cash payment for merchandise is shown below:

= Opening balance of accounts payable + purchase made - closing balance of accounts payable

where,

Purchase = Cost of goods sold + closing balance of inventory - opening balance of inventory

= $720,000 + $188,000 - $200,000

= $708,000

The other items values would remain the same

Now put these values to the above formula  

So, the value would equal to

= $80,000 + $708,000 - $84,000

= $704,000

               

3 0
4 years ago
A major concern related to higher education’s business model is that colleges and universities cannot or will not control their
TEA [102]
I understand it that they cannot control their cost increases because they cannot for example increase the prize of the service they provide.

This means that they will have less money if some costs increase, for example if the prize of gas increases. Therefore, the salaries will be lower, since there will be less money to distribute.
4 0
4 years ago
Read 2 more answers
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