11. Complete the below table. Labor Units TP 0 1 5 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 10 25 50 80 100 118 135 151 166 180 193 205 216 226 235 243 250 256 261 265 268 270 271 MP AP TC 0 500 1000 1500 2000 2500 3000 3500 4000 4500 5000 5500 6000 6500 7000 7500 8000 8500 9000 9500 10000 10500 11000 11500 12000 12500 MC AC

11. Complete the below table. Labor Units TP 0 1 5 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 10 25 50 80 100 118 135 151 166 180 193 205 216 226 235 243 250 256 261 265 268 270 271 MP AP TC 0 500 1000 1500 2000 2500 3000 3500 4000 4500 5000 5500 6000 6500 7000 7500 8000 8500 9000 9500 10000 10500 11000 11500 12000 12500 MC AC

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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A textile worker in the city of Londo n earns dollar 3500 per month. The cost of living index for a particular month is given as 136. Using the fo llowing data, find out the amounts he spent on house rent and clothin g. Group Food Group Index 180 150 Еxpenditure 1400 Clothing House Rent ? ? 100 Fuel and Lighting Miscellaneous 560 110 630 80
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1. What is the fixed input use in this production? 2. What is the variable input use in this production?. 3. When MP is 0, TP is at point of production at level Q of Labor. 4. State the Law of Diminishing Return. Based on the computed MPL, at what input level does the law starts to operate? 5. The Law of Diminishing Returns occurs at worker.
2. Given the following labor data of Meow Company. (1) Number of workers, (2) Number of cakes baked, Y (3) Marginal product of labor, MPN (4) Marginal revenue product of labor, MRPN (when P = RM40) 1 33 55 60 4 77 5 85 6. 89 7 110 a) Calculate and fill in the yellow colored blanks in the above table. (8 marks) b) What can you conclude from your answer? (2 marks)
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(Table) Based on the table, the value for C is Competitive Labor Market Q MPP P VMP W 0 0 8 0 80 1 5 5 8 40 80 11 6 8 48 80 18 7 8 56 80 4 A 9 8 72 80 38 B 8 88 80 50 12 8 C 80 61 11 8 88 80 8 71 10 8 80 80 9. 80 9 8 72 80 10 85 5 8 40 80 88. O 400. 96. 80. 品| 2. 3.
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Week Crew Size Yards Installed 1 2 ن برا 3 4 5 16 4 3 4 نیا 2 ن نیا 3 2 Crew Size 96 72 92 50 69 52 2 3 4 Labor Productivity per Worker Crew Size Productivity Most Productive Crew Size
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