Find the optimal production in the given case

Related BrainMass Solutions

• Calculating optimal amount of capital and labor

  Calculate the firm's optimal amount of capital and labor in this case.

• Finding the Optimal Number of Advertising Hours

  This solution depicts the required steps needed to find the optimal number of advertising hours in the given case.

• Finding optimal price and output level

  Solution describes the steps to find out optimal output and price level in the given case. It also calculates optimal profit and profit in case maximum production capacity is 1,200,000 pills.

• Finding optimal combination of labor and capital

  Quantity of capital units will depend upon given budget or output level. Solution determines the optimal combination of labor and capital in the given case.

• Economic Profit and Loss

  So, optimal output level remains unchanged. But in this case Total revenue is less than total cost for all production levels. Firm will make losses at all production levels.

• Calculating optimal output and price levels

  given case.

• Quality & Supply Chain Management

  Justify whether the use of transfer points is necessary in this case. Please refer attachment for detailed response to your posting. Formulation and optimal solution are given. Please open the Solver tool box to see the formulation.

• Quantitative Methods : LINDO solution

  What are the optimal production quantities for each type of soft drink? What is the optimal daily profit?

• cost function

  We first isolate K in the production function: K = q/(5*L) and now replace this into the cost function: C = 5000*L + 10000*q/(5*L) + 2000*q Now we are ready to find the optimal L (optimal in the sense that minimizes total cost).