Business, 20.03.2020 12:04 jadajohnson14

The graph to the right depicts an economy, Home, which produces flowers and soybeans. Its production possibilities frontier is shown as TT. One of Home's isovalue lines is also shown as VV.
Ps = $2 ... the price of a unit of soybeans
Qs = 5 ... the number of units of soybeans currently being produced at point X
Pf = $2 ... the price of a unit of flowers
Qf = 5 ... the number of units of flowers currently being produced at point X.
What is the significance of Home operating at point X on the graph to the right?

Answers: 2

Show answers

Another question on Business

Business, 21.06.2019 16:50

Which of the following is the most important role of marketing in the process selection decision? identifying points of differentiation for mass customization. stimulating demand in developing markets. estimating and managing future demand. providing translation of the voice of the customer.

Answers: 2

Answer

Business, 22.06.2019 18:10

Ashop owner uses a reorder point approach to restocking a certain raw material. lead time is six days. usage of the material during lead time is normally distributed with a mean of 42 pounds and a standard deviation of four pounds. when should the raw material be reordered if the acceptable risk of a stockout is 3 percent?

Answers: 1

Answer

Business, 22.06.2019 19:40

When a company produces and sells x thousand units per week, its total weekly profit is p thousand dollars, where upper p equals startfraction 800 x over 100 plus x squared endfraction . the production level at t weeks from the present is x equals 4 plus 2 t. find the marginal profit, startfraction dp over dx endfraction and the time rate of change of profit, startfraction dp over dt endfraction . how fast (with respect of time) are profits changing when tequals8?

Answers: 1

Answer

Business, 22.06.2019 20:30

(30 total points) suppose a firm’s production function is given by q = l1/2*k1/2. the marginal product of labor and the marginal product of capital are given by: mpl = 1/ 2 1/ 2 2l k , and mpk = 1/ 2 1/ 2 2k l . a) (12 points) if the price of labor is w = 48, and the price of capital is r = 12, how much labor and capital should the firm hire in order to minimize the cost of production if the firm wants to produce output q = 18?

Answers: 1

Answer

You know the right answer?

The graph to the right depicts an economy, Home, which produces flowers and soybeans. Its production...

Questions