Business, 25.11.2019 19:31 rdeloney4

You manage a plant that mass-produces engines by teams of workers using assembly

machines. the technology is summarized by the production function

q = 5 kl

where q is the number of engines per week, k is the number of assembly machines, and l

is the number of labor teams. each assembly machine rents for r = $10,000 per week, and

each team costs w = $5000 per week. your plant has a fixed installation of 5assembly machines as part of its design.

in the short run:

for any given level of output q, write the expression for the number of labor teams required.

b. what is the cost function for your plant � namely, how much would it cost to produce q engines? (hint: tc=tfc+tvc, tfc=rk, tvc=wl)

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You manage a plant that mass-produces engines by teams of workers using assembly

machine...

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