Suppose a firm can use either capital (k) or labor (l) in a production process. the firms production function is given by q = 5l + 15k. the price of capital is $20 per unit and the price of labor is $8 per unit.
a. what is the firm's total cost function?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Suppose a firm can use either capital (k) or labor (l) in a production process. the firms production function is given by q = 5l + 15k. the ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
X-1 Corp's total assets at the end of last year were $395,000 and its EBIT was $52,500. What was its basic earning power (BEP) ratio?
Answers (1)
Julie ling worked as a customer service representative in the billing department of novell, inc. when questions arose about ling's performance on several occasions, department manager, katie tong met with ling to discuss, among other things, ling's
Answers (1)
Mark is refinishing an antique china cabinet and has already spent $180 on the restoration. He expects to be able to sell the cabinet for $360.
Answers (1)
The type of shipping paper used in highway transportation is called a:
Answers (1)
Electronic products can be satisfying as well as frustrating for consumers. For example, a consumer may be highly satisfied with the applications available on his new smartphone but becomes frustrated when he is unable to operate the phone with ease
Answers (1)
New Questions in Business
What explanations have economists offered for why firms don't raise prices when doing so would seem to increase profits? Firms might not raise prices when doing so might increase profits because A.
Answers (1)
Compute ending work in process inventory for a manufacturer with the following information. Raw materials purchased ... $124,800 Direct materials used ... 74,300 Direct labor used ... 55,000 Total factory overhead ...
Answers (1)
Cole has a credit card bill of $3,100. His credit limit is $3,000. Is Cole using credit responsibly or irresponsibly? A. responsibly B. irresponsibly
Answers (1)
In the month of November Marigold Corp. wrote checks in the amount of $43300. In December, checks in the amount of $59239 were written. In November, $39630 of these checks were presented to the bank for payment, and $50932 in December.
Answers (1)
Donald and Charlene are married and do not have any children. They plan to ensure that the other will not be unduly burdened by debts in case one of them dies. Each plans to continue to work after the other one dies.
Answers (1)