You are an efficiency expert hired by a manufacturing firm that uses Kand Las inputs. The firm produces and sells a given output. If w = S40, r= $100, MPL = 4, and MPK = 40 the firm: A.) is cost minimizing. B.) should use less Land more K to cost minimize.C.) should use more Kand less Lto cost minimize. D.j is prof maximizing but not cost minimizing.
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- The manager of the donut shop tells you that hesells donuts for $1 each, and that if he were to makeadditional donuts, based on his current level ofoutput, it would cost him $0.80 per donut. Do yourecommend that the manager increase or decreasethe number of donuts he makes?● ● The marginal benefit to Lesley of staycations during the year at a hotel are given by the ollowing schedule: Number of Weekend Staycations 1 2 3 4 5 Marginal Benefit $550 $460 $390 $250 $200 $150 If the marginal cost of a staycation at the hotel is constant and equal to $360, how many weekends at the hotel is Lesley likely to enjoy? If Lesley stays for 5 weekends, what is the net benefit/(cost)?You are an efficiency expert hired by a manufacturing firm that uses Kand Las inputs. The firm produces and sells a given output. If w = $40, r = $100, MPL = 4, and MPK = 40 the firm: A.) is cost minimizing. B.) should use less Land more K to cost minimize.C.) should use more Kand less Lto cost minimize. D.) is profit maximizing but not cost minimizing.
- You are an efficiency expert hired by a manufacturing firm that uses Kand Las inputs. The firm produces and sells a given output. If w = $40, r = $100, MPL = 4, and MPK = 40 the firm: A.) is cost minimizing. B.) should use less Land more Kto cost minimize.C.) should use more Kand less L to cost minimize. D.) is profit maximizing but not cost minimizing.who is responsible for executing the budgetand plansdrawn up for a firmHomework (Ch 10) 8. The effects of property rights on achieving efficiency Consider a lake found in the town of Center Barnstead, and then answer the questions that follow. The town has a hiking lodge whose visitors use the lake for recreation. The town also has a research lab that dumps industrial waste into the lake. This pollutes the lake and makes it a less desirable vacation destination. That is, the research lab's waste decreases the hiking lodge's economic profit. Suppose that the research lab could use a different production method that involves recycling water. This would reduce the pollution in the lake to levels safe for recreation, and the hiking lodge would no longer be affected. If the research lab uses the recycling method, then the research lab's economic profit is $1,500 per week, and the hiking lodge's economic profit is $1,800 per week. If the research lab does not use the recycling method, then the research lab's economic profit is $2,000 per week, and the hiking…
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- You are an efficiency expert hired by a manufacturing firm that uses Kand Las inputs. The firm produces and sells a given output. If w = $40, r= $100, MPL = 4, and MPK = 40 the firm: A.) is cost minimizing. B.) should use less Land more K to cost minimize.C.) should use more Kand less L to cost minimize. D.) is profit maximizing but not cost minimizing.Focusing only on transportation costs, if a firm pays both the costs of transporting inputs to its plant and the finished product to its customers, the profit maximizing plant location A. minimizes the sum of the two transportation costs. B. can be anywhere between the location of the inputs and of the customers because the firm pays both sets of transportation costs. C. must always be closer to the location of the inputs because transporting inputs is always more expensive than transporting finished products. D. None of the above answers are correct.Josh and Alex work as design engineers creating high-end lighting fixtures. After one particularly enlightened afternoon, they decide to follow their dreams and open a cupcake bakery. Please sort their various costs, listed below, into the correct category. Implicit Costs Not a Cost Explicit Costs ! Q A N Ⓒ2 Advertising space taken out on a social networking website The money they pay their neighbor's six year old son to deliver cupcakes to their customers. W S 12 #3 16 80 F3 E D X C $ 4 888 F4 R his previous job designing The salary Alex earned in lighting fixtures. LL 25 % U The garage space used for baking that can no longer be rented out to a college student FS T Da A 6 V B Y Supplies like sugar, butter and baking trays G H Ⓒ Previous Check Answer Next Exit 87 & 44 N 17 U J * 8 ∞ 3 14 9 K → 19 O 1 AA F10 P