The manufacturer Thai Bambu is a profit maximizing company providing the market with bambu chairs. The table show us the connection between the...
This question has been answered
Question

The manufacturer Thai Bambu is a profit maximizing company providing

the market with bambu chairs. The table show us the connection between the production result and the input of the only variable input , labor (L) in the short run. Every single chair is sold for 50O SEK.

-Draw in a graph the company's supply curve for the production factor L. (max. 3 points)  "No graph no points"
-How many units of labor will the company emply and how many chairs will be produced if the company wants to maximise it's profit if the price of labor is 1250 SEK per unit? Show your calculations and motivate your answer using relevant economic theory - just a numerical answer will give you 0 points. (max. 6 points)
-Thai Bambu have fixed costs of 30 000 SEK. What is the companys profit? Show your calculations and motivate your answer using relevant economic theory - just a numerical answer will give you 0 points. (max. 5 points)

Labour (L) Quantity of chairs produced
10          220
20         270
30         310
40         340
50         360
60         370

Answered by Expert Tutors

a. Fusce dui lectus, congue

  • ctum vitae odio. Donec aliq
  • gue vel laoreet ac, dictum vitae odio. Donec aliquet. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nam lacinia pulvinar to
  • s a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, d
  • ng elit. Nam lacinia pulvinar tortor nec facilisis. Pell

gue

ctum vitae odio. Donec aliquet. Lorem ipsu

icitur laoreet. N

iscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur

gue

risus

, ultrices ac magn

ec facilisis. Pellentesque dapibus eff

sus ante, dapibus

fficitur laoreet. Nam risus ante,

usce dui lect

ce dui lectus, congue v

gue

amet

dictum vitae odio. Donec aliq

ia pulvinar tortor nec f

usce dui

a molesti

gue

ipsum dolor sit amet, consectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus ef

entesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. Fusce dui lectus, cong

gue

entesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna.

Fusce dui lectpulvin

ec aliquet. Loreonec aliq

gue

ac, di

ac, dictu

fficitur laoreet. Nam risus ante, d

nec facilisis. Pellentesque da

entesque dapibus

grem ipsumiscing elit. Nam l

gue

gue

s a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laore

nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultr

entesque dapibus efficitur laoreet. Nam risus ante, dapibus a molestie consequat, ultrices ac magna.

gue

rem ipsum dolor sit amet, consectetur adipiscing elit. Na

ac, di

ac, dictu

dictum vitae odio. Donec aliquet. Lorem ipsum dolor sit a

ur laoreet. Nam risus ante, dapibus a molestie

iscing elit. Nam

gamet, coiscing elit. Nam l

Step-by-step explanation
19007161
19007745
sum dolor sit amet, consectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibus a mole
2 Attachments
Graph.png
png
image.png
png
Get unstuck

343,810 students got unstuck by Course
Hero in the last week

step by step solutions

Our Expert Tutors provide step by step solutions to help you excel in your courses