Chapter 2, Problem 2.6P

Let say you have 3 products: cake, candy, and bread. The revenue per cake is $8. The revenue per candy is $4. The revenue per bread is $5. Define the number of cake, candy, and bread you are about to produce per day as x, y, and z respectively. The manager wants that the number of cake accounts for at least 30% of the total production per day. What is the correct linear constraint to show this? Group of answer choices 0.3x – 0.7y – 0.7z ≥ 0 0.7x – 0.3y – 0.3z ≥ 0 0.7x – 0.3y – 0.7z ≥ 0 0.3x – 0.7y – 0.3z ≥ 0

I have seen solutions for this question that include solving by matrices and row reduction. Will both these methods give the same answer?

The information on three different technologies named as q, v and x is listed in the table below. Note that all of these technologies use different combinations of two types of factors of production, labor and capital, to produce 1000 units of output. Consider the first scenario where the per unit prices of the inputs, labor and capital are $50 and $25 respectively. Technology No of Labors Capital (tons) Cost value ($) A 10 50   B 30 20   C 50 10     Now imagine that a discovery has been made which has led to labor advancements leading to a reduction in per unit price of labor to $10, ceteris paribus. Which technology will a typical firm adopt under these changed circumstances and why? Using the value of costs found, what is the value of the economic rent for this firm?

1. The production function for the personal computers of DISK, Inc., is given by q = 10K0.5L0.5,where q is the number of computers produced per day, K is hours of machine time, and L ishours of labor input. DISK’s competitor, FLOPPY, Inc., is using the production function q = 10K0.6L0.4. a. If both companies use the same amounts of capital and labor, which will generatemore output?b. Assume that capital is limited to 9 machine hours, but labor is unlimited in supply. Inwhich company is the marginal product of labor greater? Explain.

Can someone help me to explain and have the assumptions and graphs here?

What is the formula for this problem? I don't want the answer cause I want to learn to do it myself, but I do not know the formula

I do not understand the meaning of this question, if it is required to complete the task as soon as possible. I think it should be two people working at the same time, and according to the barrel effect, select a situation where the maximum time is short?

Consider a beekeeper. The beekeeper has the following production function where the input is the number of hives and the output is quantity of honey produced.  Beehives           1            2             3             4               5               6              7               8               9               10              11 Honey               12         23           33           42             50            57            66             71             75             78              80 The cost of installing a beehive is $100 and the price of a unit of honey (whatever that is...) is $20.  Also each beehive increases the output of apples at a nearby apple orchard by $40.      What if we wanted to subsidize honey instead?  How much should that subsidy be per unit? (Round to one decimal place.)

Define the following