Turn on thread page Beta

Economics question help watch

Announcements
    • Thread Starter
    Offline

    6
    ReputationRep:
    Hey,

    I started studying Economics at uni this year and I've just been assigned an essay which I've absolutely no idea how to go about answering.

    I doubt I'll get any responses to this but I would be extremely appreciative if anyone can give me any guidance/advice in regard to the question, even just a couple of topics/points you think might be relevant as I am struggling a lot.

    The question is a 2500 word essay with the title "Consider a firm that uses labour and capital to produce a single output.
    The output quantity is q and input quantities are K and L, respectively. Input prices are r and w, respectively. The firm has production function f(K,L) = min(K, 2L). All input quantities are variable. Graphically determine the cost function C(q). Explain the diagram(s). Note that it is not necessary to mathematically determine the formula for C(q)."

    Thank you very much for any responses
    • Thread Starter
    Offline

    6
    ReputationRep:
    Bump in case there's any willing Economists seeing this haha
 
 
 
Reply
Submit reply
Turn on thread page Beta
Updated: January 7, 2017

University open days

  • Manchester Metropolitan University
    Postgraduate Open Day Postgraduate
    Wed, 14 Nov '18
  • University of Chester
    Chester campuses Undergraduate
    Wed, 14 Nov '18
  • Anglia Ruskin University
    Ambitious, driven, developing your career & employability? Aspiring in your field, up-skilling after a career break? Then our Postgrad Open Evening is for you. Postgraduate
    Wed, 14 Nov '18
Poll
Have you ever experienced bullying?

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Write a reply...
Reply
Hide
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.