Suppose a firm with a production function Q = KL (where MPL = K and MPK = L) is producing 125 units of output by using 5 workers and 25 units of capital. The wage rate (W) per worker is $10 and the rental per unit of capital (R) is $2. What is the firm’s long-run average total cost, and what will it be if output falls to 45 units?

According to the u.s. census bureau (), the median household income in the united states was $23,618 in 1985, $34,076 in 1995, $46,326 in 2005, and $57,230 in 2015. in purchasing power terms, how did family income compare in each of those four years? you will need to know that the cpi (multiplied by 100, 1982–1984 = 100) was 107.6 in 1985, 152.4 in 1995, 195.3 in 2005, and 237.0 in 2015

Croy inc. has the following projected sales for the next five months: month sales in units april 3,850 may 3,875 june 4,260 july 4,135 august 3,590 croy’s finished goods inventory policy is to have 60 percent of the next month’s sales on hand at the end of each month. direct material costs $2.50 per pound, and each unit requires 2 pounds. raw materials inventory policy is to have 50 percent of the next month’s production needs on hand at the end of each month. raw materials on hand at march 31 totaled 3,741 pounds. 1. determine budgeted production for april, may, and june. 2. determine the budgeted cost of materials purchased for april, may, and june. (round your answers to 2 decimal places.)

Oz makes lion food out of giraffe and gazelle meat. giraffe meat has 18 grams of protein and 36 grams of fat per pound, while gazelle meat has 36 grams of protein and 18 grams of fat per pound. a batch of lion food must contain at least "46,800" grams of protein and 70,200 grams of fat. giraffe meat costs $1/pound and gazelle meat costs $2/pound. how many pounds of each should go into each batch of lion food in order to minimize costs? hint [see example 2.]