Share
Explore BrainMass

Factors of Production

Cost accounting questions

Hello, I have some cost accounting question, please let me know if you would have to time to help me with them. Thanks 1. Factory overhead for the Praeger Company has been estimated as follows: Nonvariable overhead $122,000 Variable overhead $ 90,500 Budgeted direct labor hours 50,000 Production fo

Microeconomics: Production Function

The production function of a company is Q=0.9P+0.06t with Q being the number of products produced per year and t being the number of labor hours per year. 1. Explain why you believe or do not believe that the above production function includes all the relevant inputs. 2. Explain why you believe or do not believe that the produ

A) Why is the demand of labor a derived demand?b) What is the relationship between productivity and the wages earned by an employee? What are some factors that determine the level of your income?What is the law of diminishing marginal productivity? Give an example from your workplace/household of the law of diminishing marginal productivity?.

A) Why is the demand of labor a derived demand? b) What is the relationship between productivity and the wages earned by an employee? What are some factors that determine the level of your income? c) What is the law of diminishing marginal productivity? Give an example from your workplace/household of the law of diminishing ma

The Customer Service Perspective

Review this article, and then prepare an analysis of how these companies implemented the balanced scorecard and its apparent effects. 1. Introduction: On what specific customer perspectives did each company focus, and what measures did each company use to ascertain how well it was meeting the goals implied by those specifi

Short-Run Production and Marginal Revenue and Factor Costs

Consider the following short-run production function (where L = variable input, Q =output): Q = 10L - 0.5L2 Suppose that output can be sold for $10 per unit. Also assume that the firm can obtain as much of the variable input (L) as it needs at $20 per unit. a. Determine the marginal revenue product function. b. Determ

Canadian Fabrication & Design

After two quarters of increasing levels of production, the CEO of Canadian Fabrication & Design was upset to learn that, during this time of expansion, productivity of the newly hired sheet metal workers declined with each new worker hired. Believing that the new workers were either lazy or inefficiently supervised (or possibly

Analyzing behavior of Increasing cost industry

Suppose you own a remodeling company. You are currently earning short-run profits. The home remodeling industry is an increasing cost industry. In the long run, what do you expect will happen to: a. Your firm's costs of production? Explain. b. The price you can charge for your remodeling services? Why? c. Profits in home

Increasing returns/marginal returns

The law of diminishing marginal returns states that a. the marginal product of labor declines as all inputs are increased. b. production functions exhibit decreasing returns to scale. c. the marginal product of labor returns as more capital is used. d. the marginal product of a factor eventually diminishes as more of the i

Organization Overview of Ford

Organization/Industry Overview Prepare a 500- 600 word organization/industry overview of your selected organization, which is Ford. 1. The market in which the organization/industry operates, 2. Any issues or opportunities that the organization/industry faces.

Cost-volume-profit analysis

Westfield Corporation makes two different boat anchors?a traditional fishing anchor and a high-end yacht anchor?using the same production machinery. The contribution margin of the yacht anchor is three times as high as that of the other product. The company is currently operating at full capacity and has been doing so for nearly

Managerial economics

The company produces a component used in aerospace industry. The component consists of three parts (A,B, and C) that are purchased from outside and cost 40, 35, and 15 cents per piece, respectively. Parts A and B are assembled first on assembly line 1, which produces 140 components per hour. part C undergoes a drilling operati

Microeconomics

Microeconomics of how both individuals and organizations make allocation decisions with three basic trade-offs that include which goods/services are to be produced, how to produce them, and who gets them. How they are explained by these three trade-offs are determined using a specific good/service within your local area

Determining Cost Minimizing Demand Function

Please refer attacged file for complete problem. Some of the expressions are missing here. Consider the following general form of a constant elasticity of substitution production function: y = You may find this question easier to answer if you let By all means, leave your answer in terms of & and & Assume a firm is try

ECO - 550

Explain why a change in a firm's total fixed cost of production will shift its average total cost curve, but not its marginal cost curve. Provide two example of input substituition.

How does Microeconomics relate to water pollution?

I'm writing an essay about water pollution in my microeconomics class. How does microeconomics relate to water pollution? For example, Elasticity, supply and demand, Tax...etc. Please help and please reply it within 3-4 hours!!! Thank you so much!!!! THIS IS THE QUESTION OF MY ESSAY Poisoned Water - Analyze the econ

NPV

Fast Track Bikes, Inc., is thinking of developing a new composite road bike. Development will take six years and the cost is $200,000 per year. Once in production, the bike is expected to make $300,000 per year for 10 years. a. Assume the cost of capital is 10%. i. Calculate the NPV of this investment opportunity. Shou

Aurora Industries

Aurora Industries manufactures a hand-held electric hair dryer. Sales have steadily increased during the recent past and, as a result of a just-completed expansion program, Aurora has annual capacity now of 250,000 units. Production and sales during the coming year are forecast at 150,000 units. Standard production costs have be

Marginal Cost Problem

1. Assume a manufacturing process can be captured by the following production function: Q = 5,000 + 100X - 0.5X2 Where Q is the number of units of output produced weekly and X is the variable input used in the production process. Assume further that the cost of each unit of input X used is $100 (marginal factor cost, MFC

Managerial Economics Problem

Stylus, Inc. produces an electric hand mixer which has been very successful in the market. Annual capacity is 500,000 units. Sales and production for the coming year are predicted to be 400,000 units. Standard production costs are estimated as follows: Materials $6.50; Direct labor $4.00; Variable indirect labor $2.00; Fixed

Develop a report to management of the firm as to whether or not it should continue to operate at a loss? Be sure to show your work to support the decision you outlined in your report.

A firm uses 70,000 workers to produce 300,000 units of output per day. The daily wage (per worker) is $100, and the price of the firm's output is $30. The cost of other variable inputs is $500,000 per day. The firm's fixed cost is not known, but it is high enough that the firm's total costs exceed its total revenue. Develop a

Determining if a Firm Should Shut Down

Please see attachment. You have been hired by an unprofitable firm to determine whether it should shut down its unprofitable operation. The firm currently uses 70,000 workers to produce 300,000 units of output per day. The daily wage (per worker) is $100, and the price of the firm's output is $30. The cost of other variable i

Productivity and the cost of production

Answer the following question in your own words without quoting anyone: What is the relationship between productivity and the cost of production, and how does the cost of production vary over the short- and long-run?

Shutdown point and short run

What is the shutdown point? Give an example. How is the short-run defined in the production process? Please provide references if applicable.

Production Theory Functions

Please open the word file to view the mathematical notations. Question Consider a firm with production function . (a) Sketch the isoquant diagram of this firm. (b) Derive the marginal rate of technical substitution between the two inputs. What is the relationship between the marginal rate of technical substitution an

Biofuels Deemed a Greenhouse Gas Threat

The recent New York Times article on biofuels ("Biofuels Deemed a Greenhouse Gas Threat", February 8), they outline externalities not currently included in biofuels policy. How would you, from a policy perspective, propose to incorporate their findings into a more comprehensive biofuels policy? How would you balance energy secur

Economics problem and topic idea

What are economies of scale? Give an example. What are the graphic relationships among fixed, variable, total, average, and marginal costs? What is the relationship between productivity, cost of inputs, and the cost of production? Can you give me a good topic to write this paper on? I am at a blank with this paper. 1)