If Al-quds firm has $ 800 to be spent on two factors of production, the price of labour PL = $ 10 , and the price of machine Pm = $ 4. 1. Derive and draw the Iso-cost line ? 2. Derive the Iso-cost line formula ? 3. If the producer equilibrium occurs when the number of labor is 60 workers, and the output is 500 units. Calculate and draw the quantity of machines that achieves the equilibrium ?

If Al-quds firm has $ 800 to be spent on two factors of production, the price of labour PL = $ 10 , and the price of machine Pm = $ 4. 1. Derive and draw the Iso-cost line ? 2. Derive the Iso-cost line formula ? 3. If the producer equilibrium occurs when the number of labor is 60 workers, and the output is 500 units. Calculate and draw the quantity of machines that achieves the equilibrium ?

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter7: Proudction Costs

Section: Chapter Questions

Problem 9SQ

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