A Local Non-Profit Group Prints a Weekly Newsletter

question 94

Essay

A local non-profit group prints a weekly newsletter.Professional typists earn $10 per hour and can type 2 pages per hour.Unpaid volunteers can type only 1 page per hour.Measuring hours of professional typist services on the vertical axis and hours of unpaid volunteer typist services on the horizontal axis,draw the relevant isoquant and isocost curves if the newsletter is 10 pages long.What input mix is chosen by the non-profit group if they wish to minimize the cost of the newsletter? If the group will reimburse volunteers for expenses (lunch,driving),how much must the reimbursement be for your answer to change?

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Definitions:

Cocaine

A powerful and addictive stimulant drug derived from the leaves of the coca plant, which affects the central nervous system.

Mercury

Mercury is a chemical element with the symbol Hg and atomic number 80, known for being the only metallic element that is liquid at standard conditions for temperature and pressure.

Fetal Period

The stage of human development in the womb from the end of the embryonic stage until birth.

Pregnant

The state of carrying a developing embryo or fetus within the female body, typically lasting around nine months in humans.