MG TECHNOLOGY Fanasswo.com LIN UPSA ACBSP VERVOORSONAL SUGAR Scholarship with Professionalism BBAF 307: MANAGERIAL ECONOMICS IA TIME ALLOWED: 1 HOUR: 20 MINS INSTRUCTION: ANSWER ALL QUESTIONS 1. A manager hires labour and rents capital equipment in a very competits mit Currently the wage rate is GH2 per hour and capital is rented at Gispers, unit price of the product is GH0.25 and total cost is 1000. Suppose the firm's production function is as follows: e = 14K0.5 0.5 + 10 a. What is the amount of labour and capital the firm should employ in start maximize profit. b. What is the maximum profit? mand fusim 40 = 35-05 MG TECHNOLOGY Fanasswo.com LIN UPSA ACBSP VERVOORSONAL SUGAR Scholarship with Professionalism BBAF 307: MANAGERIAL ECONOMICS IA TIME ALLOWED: 1 HOUR: 20 MINS INSTRUCTION: ANSWER ALL QUESTIONS 1. A manager hires labour and rents capital equipment in a very competits mit Currently the wage rate is GH2 per hour and capital is rented at Gispers, unit price of the product is GH0.25 and total cost is 1000. Suppose the firm's production function is as follows: e = 14K0.5 0.5 + 10 a. What is the amount of labour and capital the firm should employ in start maximize profit. b. What is the maximum profit? mand fusim 40 = 35-05