« previous next »

Author Question: Suppose the production function for coffee (C) is C = min(B,W), where B = beans in pounds and W = ... (Read 21 times)

abc

  • Hero Member
  • *****
  • Posts: 543
on: Jul 1, 2018
Suppose the production function for coffee (C) is C = min(B,W), where B = beans in pounds and W = water in gallons. Suppose the price of water is .10 per gallon and the price of beans is 10 per pound. The expansion path is
 a. B = 10W
  b. B = .1W
  c. B = W
  d. 10 = B + W

Question 2

Suppose the production function for coffee (C) is C = min(B,W), where B = beans in pounds and W = water in gallons. Suppose the price of water is .10 per gallon and the price of beans is 10 per pound. The cost minimizing combination of beans and water for C = 200 is
 a. B = 200, W = 2000
  b. B = 2000, W = 200
  c. B = 100, W = 100
  d. B = 200, W = 200


Jordin Calloway

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jul 1, 2018
Answer to Question 1

c

Answer to Question 2

d


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Illness; diuretics; laxative abuse; hot weather; exercise; sweating; caffeine; alcoholic beverages; starvation diets; inadequate carbohydrate consumption; and diets high in protein, salt, or fiber can cause people to become dehydrated.

Did you know?

Today, nearly 8 out of 10 pregnant women living with HIV (about 1.1 million), receive antiretrovirals.

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

Did you know?

In 1835 it was discovered that a disease of silkworms known as muscardine could be transferred from one silkworm to another, and was caused by a fungus.

Did you know?

The oldest recorded age was 122. Madame Jeanne Calment was born in France in 1875 and died in 1997. She was a vegetarian and loved olive oil, port wine, and chocolate.

A sidewheeler on the Mississippi. In 1856 Samuel Clemens became an apprentice to a steamboat pilot a A sidewheeler on the Mississippi. In 1856 Samuel Clemens became an apprentice to a steamboat pilot a
How to find the domain when sine and cosine are in the same function How to find the domain when sine and cosine are in the same function
World Crude Oil Production and Reserves (Billions of Barrels) World Crude Oil Production and Reserves (Billions of Barrels)
Integral of function p3 Integral of function p3
Let f(x)=log10(bottom exponent)x. For each function g(x) i), iii), v Let f(x)=log10(bottom exponent)x. For each function g(x) i), iii), v
Anterior pituitary function Anterior pituitary function
Video: Hormonal regulation of pregnancy - week 1

For a complete list of videos, visit our video library