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Managerial Economics
Question 1 Q=0.1K0.5L0.5 MPL = ∂Q/∂L =0.05K0.5L-0.5 MPK = ∂Q/∂K=0.05K-0.5L0.5 0.05K0.5L-0.5=0.05K-0.5L0.5 4 1 L=4K Q=0.1(4K)0.5K0.5 =0.1XK0.5XK0.5 = 0.2K K=Q/0.2 = 5Q Q=0.1L0.5X1/2XL0.5 Q=0.05L L=20Q T.C=wL+rK =1(20Q) +4(5Q) =40Q b) TC=40Q MC=∂Q/∂L =40 AC=T.C/Q =40Q/Q =40 c) Q=0.1K0.5L0.5 Q2=0.01KL Q2=0.1L L=Q2/0.1 L=10Q2 TC=wL+rK 10Q2+4O d) MC = ∂Q/∂L = 20Q At
Rating:Essay Length: 445 Words / 2 PagesSubmitted: October 19, 2015 -
Managerial Economics
Exercise 1 (Simple Linear Regression): (a)Plot the data. (b) Determine the estimated regression line. Give an economic interpretation of the estimated slope (b) coefficient. Estimated regression line: y=5.25x+30.18 Economic interpretation of the estimated slope coefficient: Slope coefficient represents change in sales due to one additional unit of distance. Sales increases
Rating:Essay Length: 646 Words / 3 PagesSubmitted: January 3, 2017 -
Managerial Economics - Productivity at the Port of Baltimore
Managerial Economics - Productivity 1. Explain the idea of productivity, and briefly describe why achieving high levels of productivity is important for (a) firms and (b) an economy in general. Productivity measures the efficiency of an entity. It demonstrates the relationship between production and the resources required to produce. In
Rating:Essay Length: 1,683 Words / 7 PagesSubmitted: February 24, 2013 -
Managerial Economics Chapter 5 / 6 Homework
1. You are the manager of a firm that sells output at a price of $40 per unit. You are interested in hiring a new worker who will increase your firm's output by 2,000 units per year. Several other firms also are interested in hiring this worker. a. What is
Rating:Essay Length: 863 Words / 4 PagesSubmitted: March 8, 2011 -
Managerial Economics, and Globalization
OPERATIONS DECISION Operations Decision Deborah Grant Strayer University Assignment 2 ECO 550 Managerial Economics, and Globalization Dr. Camille Castorina Summer 2015 ________________ Abstract This paper consists of seven sections related to operations decision according to the assignment. Each section addresses the problems in the order of questions. The first section
Rating:Essay Length: 4,265 Words / 18 PagesSubmitted: August 25, 2015 -
Managerial Finance
Review Test Submission: PROBLEM SET #3 Question 1 20 out of 20 points Peter Higgins is a sales agent for XZY Company. He has an effort cost function of C = e2 and a reservation wage of $1,500. His wage package is W = 1,500 + 0.2Q where the CEO
Rating:Essay Length: 888 Words / 4 PagesSubmitted: April 14, 2016 -
Managerial Leadership and Productivity
Text box displaying document title and subtitle There is considerable evidence that an individual’s effectiveness as a manager is closely related to his or her ability to recognize, appreciate, and ultimately utilize key, fundamental differences among others (W&C, p. 60). When applied to team dynamics the same is true; understanding
Rating:Essay Length: 3,690 Words / 15 PagesSubmitted: May 14, 2016 -
Managerial Organizational Assignment
Managerial Organizational Assignment Enron fraud was one the largest securities fraud scandals in history that’s results in Enrons bancrupcy in December 2001 (Lawyershop.com). Enron, within fifteen years, grew from a small gas company in Texas, to be the seventh most valuable business group in the United States, according to Fortune
Rating:Essay Length: 1,108 Words / 5 PagesSubmitted: July 5, 2014 -
Managerial Philosophy of Wal-Mart
Contents Introduction 2 The managerial philosophy of Wal-Mart 3 Evaluate of the Wal-Mart management philosophy 4 Should business management always seek the lowest prices for its customers and the highest rate of return on investment? 5 Economists define costs in terms of opportunities forgone 6 Wal-Mart's wages are above the
Rating:Essay Length: 2,390 Words / 10 PagesSubmitted: October 14, 2015 -
Managerial Practices
Managerial practices Since the beginning of the crisis, the main priority for politics has always been to try and find a way out of it, which of course is the right thing to do in the short term. But in the long term, will it be enough to avoid another
Rating:Essay Length: 416 Words / 2 PagesSubmitted: November 4, 2015