1. The production function of a small firm that produces t-shirts is given by the table below. 10 12 14 16 18 09 18 33 57 72 84 93 99 102 | 102 99 0 4 6. 8. 20 22 24 A. For each L, solve for AP and MP. Round-up your answers to two decimals. Represent your answers on a table. No need to show the solutions. B. What would be the output elasticities of labor? Round-up your answers to two decimals. If the firm is hiring 16 and 12 workers, interpret the computed & values. C. Identify the range of number of laborers under increasing marginal returns, diminishing marginal returns, and negative marginal returns. D. Explain why the firm experiences diminishing marginal returns. E. If the firm sells each t-shirt for P75 and each worker receives a wage of P450 per day, what is the optimal number of laborers to hire to maximize profits?

Q: Remember that Molly has a $2500 down payment saved for this purchase. The dealer will take the $500…

A: The loan is the amount of money which would result in the amount of money borrowed and used for…

Q: What is MARR and how do you choose it?

A: While making a decision to invest in a new project, the managers of companies do an analysis to…

Q: I typed it in, it's wrong

A: Elasticity of demand is a concept used in economics to measure the responsiveness of the quantity…

Q: Two sport utility vehicles (SUVS) are being considered by a recent engineering graduate. Using the…

A: Relative rank refers to the position of an individual or group in relation to others in a specific…

Q: Make flow chart of type of budget?

A: budget is a estimate expense and income for certain period of time

Q: Carson used $800 000 of their savings to open a coffee shop. The savings account paid 2% interest.…

A: We know that the economic profit is the difference between the total sales revenue of output and the…

Q: Question 01: Discuss the charracteristics of an ideal railway station.

A: Goods are products which fulfill human desires and have value, such as a satisfactory commodity…

Q: Use the following figure to answer the question: What is the consumer surplus in this market when…

A: Demand curve is the downward-sloping curve. Supply curve is the upward-sloping curve. Equilibrium is…

Q: What ethical issues could an online venture that sells Houdoran coffee beans address, encounter, or…

A: The objective of the question is to identify and discuss the potential ethical issues that an online…

Q: When can a business owner is earning a profit but not covering expenses?

A: In a perfectly competitive industry, it is possible for a firm to earn loss or positive profits in…

Q: The South Korean Government in the 1970s decided to follow a strategy of increased investment in…

A: Scarcity refers to the limited availability of resources, that are used to produce goods and…

Q: Target buys hand sanitizers from the wholesaler at $3 and sells them in their stores at $8. Find the…

A: Introduction Markup is the value a player adds to the cost price of a product. The value added is…

Q: A new technology TV costing more than Rs. 1 lakh has been introduced to the market and Mr. Singh is…

A: Below is the given information: The price of TV with new technology = Rs 1 lakh

Q: Tutorial

A: Hi, thank you for the question. As per our Honor code, we are allowed to attempt only first…

Q: Your Subaru Outback broke down. It has 110,000 miles and is paid off. You take it to the dealership…

A: If the Subaru outback broke down and it has run 110000 miles then it implies the Subaru has left…

Q: Can you solvie it step by step. Manually

A: Engineering economics entails a methodical analysis of the financial advantages of suggested…

Q: Habit buying can be beneficial to consumers because (a) it result in paying lower prices for most…

A: The buying behavior of any customer depends on their habit , variety seeking, extended decision…

Q: Calculate the value of savings if APS is 0.45 and income is $1200

A: In the above question, we are given with the values as:- Average propensity to save = 0.45 Income =…

Q: Alex is injured and rushed to Care Hospitals for treatment. He spent 64 minutes at the hospital out…

A: The objective of the question is to calculate the service cycle efficiency for Alex's visit to the…

Q: Advantages and disadvantages of using technology - any ethical challenges?

A: Advantages of using technology Technology leads to increase in innovation.It creates new horizons of…

Q: Why some companies avoid making up-front costs or payments?

A: Companies may require front costs / payments or back cost / payments. Some companies generally have…

Q: I did upload one question at a time but I kept getting a regetted and had no choice. Thank you for…

A: When making daily decisions, both people and small businesses can more accurately assess market…

Q: When is it necessary to use factorial design

A: A class of experimental designs which are economical is known as factorial design.That is with the…

Q: Advantages of Centralized/Center-led PurchasingStructures

A: Centralized purchasing is a system in which all sorts of inputs and services are provided through a…

Q: what is continous and discrete payments?

A: Discretely compounded interest is calculated and added to the principal at specific intervals (e.g.,…

Q: Identify 3 home related tasks and explain how demanding each one is

A: Home-related tasks are one of the most underrated and fall under unpaid and therefore unacknowledged…

Q: ICD-10 was implemented in October 2015. Summarize how the industry handled it.

A: The first international classification list called as international list of causes of death was…

Q: how do you calculate customer's life time value?

A: In this world of tough competition customers are acquired and lost over the firm’s lifetime, but a…

Q: How is the Purchasing power important?

A: Answer - Purchasing Power - Purchasing power is overall buying capacity of country which is…

Q: What is the time value of money?

A: Time value of money (TVM) is a concept that emphasizes on the opportunity cost of money, and…

Q: There is a proposal in Essex county to build hiking trails in a nearby reservation. There are two…

A: Willingness to pay: In behavioral economics, willingness to pay(WTP) refers to the lowest or highest…

Q: What is the time period? What does it determine?

A: Time period refers to the duration of an investment.  There are mainly two time periods; short run…

Q: I need typing clear urjent no chatgpt use i will give 5 upvotes

A: Step 1: First convert mg into grams. We know that 1 mg = 0.001 grams So, 200 mg =200(0.001) =0.2…

Q: Funding details provided Satisfactory Fair Unsatisfactory explain and give a rubric.50 words

A: A rubric is a systematic, standardized collection of standards or criteria used in various…

Q: Why is it important for managers to take ethical diversity into account?

A: Organizations have a high level of ethical variety. That is, employees, managers, and leaders in…

Q: Mode definition

A: The value that appears the maximum number of times in a data set is called Mode.  It is one of the…

Q: Spare production Capacity stock or finished products and compliments ease in cost factor a…

A: Price elasticity of supply refers to the change in the quantity supplied with respect to changes in…

Q: Why is mobile marketing different from desktop marketing?

A: The provided question's answer includes the standpoint of economic theories and thus, it is answered…

Q: all the answers are incorrect. Can you please re-do?

A: Profits are maximized when marginal revenue equals marginal cost.