1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
grigory [225]
3 years ago
12

Consider the following production function: q = 7LK + 5L^2 - (1/3) L^3. Given the following expressions for the marginal product

ivity of each input: MP_L = 7K + 10L - L^2 and MP_K = 7L Assuming capital is plotted on the vertical axis and labor is plotted on the horizontal axis, determine the value of the marginal rate of technical substitution when K = 30 and L = 15. (Round your answer up to two decimal places and include the proper sign.)
Business
1 answer:
natali 33 [55]3 years ago
6 0

Answer:

The  value of the marginal rate of technical substitution when K = 30 and L = 15 is 1.285

Explanation:

MRTS_KL = MP_L/MP_K

                 = (7K + 10L - L^2)/7L

                 = (7*30 + 10*15 - (15)^2)/7*15

                 = 1.285

Therefore, The  value of the marginal rate of technical substitution when K = 30 and L = 15 is 1.285

You might be interested in
A gift shop sells 2000 boxes of scented candles a year. The ordering cost is $100 for scented candles, and holding cost is $10 p
Gekata [30.6K]

Answer:

Minimun cost: $2000

Explanation:

We solve for the optimal order size using the

Economic Order Quantity:

Q_{opt} = \sqrt{\frac{2DS}{H}}

<u>Where: </u>

D = annual demand = 2,000 boxes

S= setup cost = ordering cost = $ 100

H= Holding Cost = $10.00

Q_{opt} = \sqrt{\frac{2(2,000)(100)}{10}}

Q_{opt} = \sqrt{40,000}

EOQ 200

It should order: 2,000 demand / 200 order size =  10 times

At a cost of 1,000 dollar (100 units x $ 10)

It will face an average inventory of 100 units thus holding cost:

100 units x 10 dollar per unit = 1,000

Total cost: 1,000 + 1,000 = 2,000

6 0
3 years ago
A fad is a product that is popular for an extended period of time.
Westkost [7]
This is false. a fad is a product that is popular for a SHORT amount of time .
7 0
3 years ago
The reason of taxation? ​
elena-14-01-66 [18.8K]

Answer:

The money you pay in taxes goes to many places. In addition to paying the salaries of government workers, your tax dollars also help to support common resources, such as police and firefighters. Tax money helps to ensure the roads you travel on are safe and well-maintained. Taxes fund public libraries and parks.

6 0
3 years ago
Read 2 more answers
Bolton Tire Manufacturing and the union came to an impasse during negotiation of the collective bargaining agreement. Specifical
Maslowich

Answer:

The correct answer is the option A: the employees have engaged in an unfair labor practice strike.

Explanation:

To begin with, due to the fact that the union was already establishing the area for the negotiation and they might have planeed obviously to keep trying to increase the situation in their favour then the action taken by the employees was a bit hurry and was obvious that was not thought very well with calm minds and therefore that they engaged in an unfair labor practice strike because they had to be patience and wait for the union to improve the situation for them, because their are the representatives and if the company sees that the workers do not obey to the representatives then the union will lose negotiation power and the situation will get worse for them.

4 0
3 years ago
What is new and innovating about this design/chopping board?
gulaghasi [49]
This chopping board is new and innovative in design and practicality. the classic light wood chopping board look has been reimagined by adding the dark accent stripes breaking up the look. the practicality comes with the handle which has been conveniently placed so the chopping board is easy to move and store. (i hope this helps)
7 0
3 years ago
Other questions:
  • In a sales mix situation at any level of units sold net income will be higher if
    10·1 answer
  • Which of the following do you think would lead to an increase in the current demand for beef?
    12·1 answer
  • Lewis Co. sold merchandise to AdCo for $48,000 and received $48,000 for that sale one month later. One week prior to receiving p
    7·1 answer
  • __________ is the amount a business earns after deducting what it spends for salaries and other expenses.
    7·1 answer
  • Xin Co., had 3,000 units of work in process on April 1 that were 60% complete. During April, 10,000 units were completed and as
    9·1 answer
  • The human resource department of Winston Memorial Hospital has played a leading role in helping the hospital become a high-perfo
    9·1 answer
  • The dollar value of all goods and services produced annually in the united states is called _____________
    8·1 answer
  • Rivian is considering an trucking assembly. The R1T assembly has an expected life of 5 years, will cost $95 million, and will pr
    9·1 answer
  • You are sitting around the fire at a lodge in Dillingham, Alaska, discussing a fishing expedition you are planning with your col
    13·1 answer
  • Cullumber Co. invested $1,100,000 in Riverbed Co. for 25% of its outstanding stock. Riverbed Co. pays out 30% of net income in d
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!