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professor190 [17]
3 years ago
13

A manager hires labour and rents capital equipment in a very competitive market. Currently the wage rate is GH¢2 per hour and ca

pital is rented at GH¢5 per hour, the unit price of the product is GH¢0.25 and total cost is 1000. Suppose the firm's production function is as follows: � = 14�*.,�*., + 10 i. What is the amount of labour and capital the firm should employ in order to maximize output? [Hint: Maximise the product function subject to the cost constraint] ii. What is the maximum profit?
Mathematics
1 answer:
Veseljchak [2.6K]3 years ago
8 0

Solution :

It is given that the manager hires a labor and he rents the capital equipment \text{in a very competitive market}.

Presently the rate of the wage is at $ 10 per hour and the capital is been rented at $ 0.25. If the \text{marginal product} of the labor is 50 units of the output per hour and the marginal.

Therefore, the answer is

14 + 10 = 24

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What is the measure of
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Answer:

Given - angle L = 130°

- angle N = 74 °

To find - Angle M

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Angle L + Angle M = 180° ( adjacent angles are supplementary )

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Write and solve an equation to evaluate. 35% of what number is 56
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Answer:

160

Step-by-step explanation:

35 percent (calculated percentage %) of what number equals 56? Answer: 160.

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Answer for this question
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Write N as a discrete exponential function of t of the form N(t)=A(1+r)t. (HINT: You will need to find (1+r), where r is the rat
Whitepunk [10]

Answer:

N(t)=84(1+0.0405)^t.

Step-by-step explanation:

We have been given that N(11)=130 and N(0)=84. We are asked to write N as a discrete exponential function of t of the form N(t)=A(1+r)^t.

Using our given information, we can set an equation as:

N(0)=A(1+r)^0

84=A*1

84=A

Using our given information, we will get:

N(11)=A(1+r)^{11}

Substitute the given values:

130=84(1+r)^{11}

\frac{130}{84}=\frac{84(1+r)^{11}}{84}

1.5476190476190476=(1+r)^{11}

Switch sides:

(1+r)^{11}=1.5476190476190476

Take 11th root of both sides:

\sqrt[11]{(1+r)^{11}}=\sqrt[11]{1.5476190476190476}

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r=1.04050024747304-1

r=0.04050024747304

r\approx 0.0405

Therefore, our required function would be N(t)=84(1+0.0405)^t.

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3 years ago
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