« previous next »

Author Question: Suppose the production function for coffee (C) is C = min(B,W), where B = beans in pounds and W = ... (Read 65 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?

Walt Disney helped combat malaria by making an animated film in 1943 called The Winged Scourge. This short film starred the seven dwarfs and taught children that mosquitos transmit malaria, which is a very bad disease. It advocated the killing of mosquitos to stop the disease.

Did you know?

Vaccines prevent between 2.5 and 4 million deaths every year.

Did you know?

HIV testing reach is still limited. An estimated 40% of people with HIV (more than 14 million) remain undiagnosed and do not know their infection status.

Did you know?

Giardia is one of the most common intestinal parasites worldwide, and infects up to 20% of the world population, mostly in poorer countries with inadequate sanitation. Infections are most common in children, though chronic Giardia is more common in adults.

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Variation in the rate of evolution as a function of the strength of selection, assuming genetic drif Variation in the rate of evolution as a function of the strength of selection, assuming genetic drif
How to plot a sine function containing an amplitude and phase shift (Question 1 of 3) How to plot a sine function containing an amplitude and phase shift (Question 1 of 3)
How to find the domain and range of the trigonometric function, sine, cosine, and tangent How to find the domain and range of the trigonometric function, sine, cosine, and tangent
Testing motor function of cranial nerve VII - Raise eyebrows Testing motor function of cranial nerve VII - Raise eyebrows
Function, even or odd, solution Function, even or odd, solution
Sketch the graph of each function using transformations. State the domain and range. Sketch the graph of each function using transformations. State the domain and range.
Video: DNA fingerprinting Animation

For a complete list of videos, visit our video library