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You are still working for the chocolate company, and have been transferred to the production department. Upon your arrival, you receive the following information: -
You are still working for the chocolate company, and have been transferred to the production department. Upon your arrival, you receive the following information: - There are 4 inputs in the production process: capital, labour, raw material (ingredients) and energy (C, L, R, E), - The marginal productivity is, for capital and labour, 4 and 2, and is unknown for raw material and energy, - The marginal productivities are all constant, - The current level of production is at 10000 chocolate bars per week, with 100 units of capital, 90 units of labour, 4700 units of raw material and 455 units of energy, denoted (100,90,4700,455), - The price per unit of each input is 3 for capital, 10 for labour, 0.25 for raw material and 1 for energy. b) Knowing that the same level of production can be achieved using (90,75,5500,400) or (80,90,4500,600). What is the marginal productivity of energy? (if needed, round your answer to 2 digits after the decimal point.) You are still working for the chocolate company, and have been transferred to the production department. Upon your arrival, you receive the following information: - There are 4 inputs in the production process: capital, labour, raw material (ingredients) and energy (C, L, R, E), - The marginal productivity is, for capital and labour, 4 and 2, and is unknown for raw material and energy, - The marginal productivities are all constant, - The current level of production is at 10000 chocolate bars per week, with 100 units of capital, 90 units of labour, 4700 units of raw material and 455 units of energy, denoted (100,90,4700,455), - The price per unit of each input is 3 for capital, 10 for labour, 0.25 for raw material and 1 for energy. c) Assuming constant productivity and starting from the allocation (100,90,4700,455), it has been decided that labour would be decreased by 25 units. To keep the production level unchanged, energy and raw material are both increased by the same amount A. What is A? (If needed, round your answer to 2 digits after the decimal point.) You are still working for the chocolate company, and have been transferred to the production department. Upon your arrival, you receive the following information: - There are 4 inputs in the production process: capital, labour, raw material (ingredients) and energy (C, L, R, E), - The marginal productivity is, for capital and labour, 4 and 2, and is unknown for raw material and energy, - The marginal productivities are all constant, - The current level of production is at 10'000 chocolate bars per week, with 100 units of capital, 90 units of labour, 4700 units of raw material and 455 units of energy, denoted (100,90,4700,455), - The price per unit of each input is 3 for capital, 10 for labour, 0.25 for raw material and 1 for energy. d) Assuming constant marginal productivity and starting from the allocation (100,90,4700,455), it has been decided that labour would be decreased by 25 units, To keep the production level unchanged, energy and raw material are both increased by the same amount A. What is the change in total costs of inputs? (If needed, round your answer to 2 digits after the decimal point.) You are still working for the chocolate company, and have been transferred to the production department. Upon your arrival, you receive the following information: - There are 4 inputs in the production process: capital, labour, raw material (ingredients) and energy (C, L, R, E), - The marginal productivity is, for capital and labour, 4 and 2, and is unknown for raw material and energy, - The marginal productivities are all constant, - The current level of production is at 10000 chocolate bars per week, with 100 units of capital, 90 units of labour, 4700 units of raw material and 455 units of energy, denoted (100,90,4700,455), - The price per unit of each input is 3 for capital, 10 for labour, 0.25 for raw material and 1 for energy. a) Knowing that the same level of production (10'000 chocolate bars per week) can be achieved using (90,75,5500,400) or (80,90,4SOO,600). What is the marginal productivity of raw material? (If needed, round your answer to 2 digits after the decimal point.)
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