COMM 220 Lecture Notes - Lecture 7: Melanie C

• School: Concordia University
• Department: Commerce
• Course: COMM 220
• Professor: Unknown

Document Summary

Q= a x l2 x k3 = 50 x l 0. 75 x k 0. 25. Mpl = 2q/2l = 50 x 0. 75 x l -0. 25 k 0. 25. Mpk = 2q/2k = 50 x 0. 25 x l 0. 75 k -0. 75: w mel c. Y = l x w + k x c. K x c = y - l x w. K = y/c - w/c x l: at given q* min costs. Mrts = -w/c = -mpl/mpk = w/mpl = c/mpk: q = 50 x k 1. 25 l 0. 5 w1 = 40/hour. Mrts = - mpl/ mpk = - 50 x 0. 5 x k 1. 25 l -0. 5 / 50 x 1. 25 k 0. 25 l 0. 5 = -2/5 k/l. Mrts = -w/c = 2/5 x k/l = 25/ 100 = k = 5/8 l. 20,000 = 50x (5/8 l) 1. 25 x l 0. 5 = l = 42. 92 x k = 26. 83.