Lobo Lighting Corporation currently employs 100 unskilled laboresr, 80 factory technicians, 30 skilled machnists, and 40 skilled electriricans. Lobo feels that the marginal product of the last unskilled laborer is 400 lights per week, the marginal product of the last factory technician is 450 lights per week, the marginal product of the last skilled machnists is 550 lights per week, and the marginal product of the last skilled electrician is 600 lights per week. Unskilled laboreres earn $400 per week, factory technicians earn $500 per week, machinists earn $700 per week, and electricians earn $750 per week.;Is Lobo using the lowest cost combination of workers to produce its targed output? If not, what recommendations can make to assist the company?
Paper#25853 | Written in 18-Jul-2015Price : $22