he automobile assembly plant you manage has a Cobb - Douglas production function given byP = 20x0.5y0.5, where P is the number of automobiles it produces per year, x is the number of employees, and y is the daily operating budget ( in thousands of dollars). You maintain a production level of 1000 automobiles per year. If you currently employ 110 workers and are hiring new workers at a rate of 15 per year, how fast is your daily operating budget changing? (Round your answer to the nearest cent.) The daily operating budget is at a rate of $ per year.

he automobile assembly plant you manage has a Cobb - Douglas production function given byP = 20x0.5y0.5, where P is the number of automobiles it produces per year, x is the number of employees, and y is the daily operating budget ( in thousands of dollars). You maintain a production level of 1000 automobiles per year. If you currently employ 110 workers and are hiring new workers at a rate of 15 per year, how fast is your daily operating budget changing? (Round your answer to the nearest cent.) The daily operating budget is at a rate of $ per year.

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

Answers on C) are incorrects.
he number of families covered is million and the premium is per family per year.
Economic Dispatch Question It is required to investigate the economic dispatch of three power plants located in the western part of Victoria. The total load (PD) to be supplied by those power plants is 1500 MW. Assume the cost functions and the generation limits for these power plants are as follows. 350+ 4.2 P₁ + 0.006 P² 600 + 3.1 P₂ + 0.004 P² 500+ 4.2 P3 +0.007 P3 a) b) c) Plant 1: C₁ Plant 2: C₂ Plant 3: C3 = = = 150 ≤ P₁ ≤ 550 350 ≤ P₂ ≤ 700 120 ≤P3 ≤ 400 If the total load is shared among the three power plants equally, what is power generation of each power plant and what is the total operating cost in $/hr in this case. Find the optimal (economic) dispatch of each plant, the incremental operating cost 1, and the total operation cost in $/hr. (You don't need to use the iteration method). If it is expected that those power plant will operate in average 18 hrs a day, how much saving in cost if the economic dispatch operation with shared power operation (in part a).
D.1.
Every year, there is some form of construction work going on at UF's campus. In January 2018, bids were opened for a new building on campus for UFPD. The bid/construction value of the building was set at $5 Million. Another building of similar structure and purpose is planned with a bid opening in January 2023. What is the expected bid for the new building? It is given that in January 2000, the Florida Construction Cost Index had a value of 5550, while in January 2018, that value was 8000. You can use these price indices to calculate an average inflation in construction costs.
Bags/Participants Fixed Cost Variable Cost Total Cost 0 $1,700 $ - $1,700 100 $1,700 $500 $2,200 200 $1,700 $1,200 $2,900 300 $1,700 $2,700 $4,400 400 $1,700 $5,200 $6,900 500 $1,700 $9,000 $10,700 600 $1,700 $15,000 $16,700 700 $1,700 $23,800 $25,500 800 $1,700 $36,800 $38,500 900 $1,700 $55,800 $57,500 1,000 $1,700 $83,000 $84,700 Given the above information on cost, if you charge $15 per entry, what is the breakeven quantity of bags that you should order? At what quantity of bags will profits be maximized? A Use the profit maximizing rule, MR ≥ MC, buy 300 bags. B Use the profit maximizing rule, MR ≥ MC, buy 200 bags. C Use Qb = F/(MR-AVC) where Qb is the breakeven quantity to be determined, the optimal quantity of bags is 300. D Use Qb = F/(MR-AVC) where Qb is the breakeven quantity to be determined, the optimal quantity of bags is 200.
True/False Total cost can never be zero
No chatgpt used i will give 5 upvotes typing please
Define the term Break-Even Sales Volume?
pls hekp asap