Please all 3 sub-questions and round off to 2 decimal places Question 1TYPO produces memo pads in its local shop. The company can rent its equipment and hireworkers at competitive rates. Equipment needed for this operation can be rented at R52 perhour, and labour can be hired at R12 per worker hour. The company has allocated R150,000for the initial run of memo pads. The production function using available technology can beexpressed as:Q=0.25K0.25 L0.75,where Q represents memo pads (boxes per hour), K denotes capital input (units per hour), andL denotes labour input (units of worker time per hour). The marginal products of labour andcapital are given as:MPL = (0.75)(0.25) K⁰.25 L-0.25MPK = (0.25)(0.25)K-0.75L0.75a.Construct the isocost equation.b. Determine the appropriate input mix to get the greatest output for an outlay ofR150,000 for a production run of memo pads.c. Compute the level of output.

The isoquant curve represents the different combination of inputthat is required to produce a given…

capital are given as: MPL = (0.75)(0.25)Kº.25 L-0.25 MPK = (0.25)(0.25)K-0.75L0.75 a. Construct the isocost equation. b. Determine the appropriate input mix to get the greatest output for an outlay of R150,000 for a production run of memo pads. c. Compute the level of output.

capital are given as: MPL = (0.75)(0.25)Kº.25 L-0.25 MPK = (0.25)(0.25)K-0.75L0.75 a. Construct the isocost equation. b. Determine the appropriate input mix to get the greatest output for an outlay of R150,000 for a production run of memo pads. c. Compute the level of output.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

1- Indicate if the following data sets represent time-series, cross section or panel data . a- Number of the registered students of the Pretoria Universities between the years 1995 and 2016. ___________________ b- Inflation rate of the EU members in 2020. ___________________ c- FDI to Turkey between the years 1990 and 2016. ___________________ d- Employment rate in Zimbabwe over the months January to 2020 December.
Calculate and complete columns (3), (4), (5), (6) and (7) as instructed by quiz question # 8. (1) (2) (3) (4) (5) (6) (7) Quantity of Total Labor Product 10 50 11 54 12 60 13 64 14 66 15 67 Use this area for calculations if needed and to answer Q10
calculate the overall price change (inflation) given the category changes and the appropriate weights below for 2008-2009
B3. The following table shows the gold prices in recent 4 years: Price Index (USS per ounce) (Base 2018) I2018 =? Price Year 2018 1328 2019 2020 1294 Iz019 =? 1562 I2020 =? 2021 I2021 =? 1949 (a) Calculate all the simple price indexes by using 2018 as the base year. (b) Calculate the percentage change from 2020 to 2021.
A2 As per the above chart, please explain the below question: Do you observe any seasonality, cyclicity and trend?
Tract 1 123 2 3 4 Group A Group B 25 50 75 100 25 25 25 25 Calculate the dissimilarly index for this county.
The following table shows the annual inflation rate (the GDP deflator) of Japan, the UK, China, and South Sudan in the period 1996-2015 (Source World Bank 1996-2000 2001-2005 2006-2010 2011-2015 -1.9% -0.9% Japan UK -0.5% 1.6% 2.1% 1.7% 1.8% 1.8% China 8.1% 2.4% 2.1% 0.8% South Sudan 54.1% 6.5% 0.6% -18.7% Based on this information, which of the following statements is correct? O In Sudan Price level has always decreased between 1996 and 2015 The general price level decreased in China between 1996 and 2015 O China experienced disinflation between 1996 and 2015 O in the UK, the price of goods and services remained stable between 2001 and 2015
Search for the “World Economic Outlook Database” on the internet and locate the most recent version. Use this database to select inflation data (units of percentage change) for Germany, Japan, and the United States for the period 1990 to 2010. Construct a table of annual inflation rates for these countries. Now construct a graph using annual inflation rates on the vertical axis and the year on the horizontal axis. Plot the annual inflation rates from your table in three separate lines on the same graph. How would you compare the experiences of these three countries based on your graph?
The table below is extracted from Happyland Republic, Bureau of Statistics records for 2019- 2020. Use the information in this table to answer the questions that follow. Base year 2019 Productio Items 2020 Productio Price Price n n Used cloth (units) 4,000 50.00 5,000 60.00 Components used tractor factory production (units) Cloth (units) 1,200.0 8,000 500.00 11,000 8,000 25.00 12,000 30.00 Beef gifts during cultural festival (Kg) Milk (litres) Computers (Units) Printers (Units) Raw materials for car assembling plant (Units) 1,500 2.00 1,700 3.00 5,000 2,000 500.00 500 300.00 4,500 250.00 1.30 7,000 2.50 2,500 600.00 400 355.00 4,450 300.00 i. Calculate Happyland Republic's nominal GDP, real GDP in 2020. Also, calculate the GDP deflator if 2019 is used as the base year. Show your work.
The fractions make no sense
8
The price of wheat (per kg) is given for the vears 1964 to 1973. Calculate simple index numbers using insmeo i) 1964 as base year ii) average of the prices for the first five years as base iii) average of the prices of all the 10 years as base Year Price (Rs.) Year 1969 Price (Rs.) 27 1964 1965 1966 20 28 18 23 1970 1971 30 1967 32 24 25 1972 1973 1968 33