23. The following table represents the short-run total cost schedule of an energy drink manufacturer. Study the following table, and then answer the question. The average variable cost to the firm when 30 bottles of mineral water are produced is Labour Output (bottles of mineral water per day Total cost (workers per day) (R) 400 1 30 700 1000 80 120 1300 140 1600 150 1900 a. R10 b. R13,33 C. R23,33. d. R30 24. Which of the following statements give a possible explanation for the movements indicated with arrows a and b? Quontity supplied a) Arrow (a) indicates an increase in wages of the workers, arrow (b) indicates a decrease in the wages of the workers. Arrow (a) indicates an increase in expected future prices, arrow (b) indicates an improvement in the b) technology used. c) Arrow (a) indicates a decrease in wages of the workers, arrow (b) indicates a decrease in the price of an alternative product d) Arrow (a) indicates a decrease in price of the product, arrow (b) indicates an increase in the price of the product. anpoud jo aa

23. The following table represents the short-run total cost schedule of an energy drink manufacturer. Study the following table, and then answer the question. The average variable cost to the firm when 30 bottles of mineral water are produced is Labour Output (bottles of mineral water per day Total cost (workers per day) (R) 400 1 30 700 1000 80 120 1300 140 1600 150 1900 a. R10 b. R13,33 C. R23,33. d. R30 24. Which of the following statements give a possible explanation for the movements indicated with arrows a and b? Quontity supplied a) Arrow (a) indicates an increase in wages of the workers, arrow (b) indicates a decrease in the wages of the workers. Arrow (a) indicates an increase in expected future prices, arrow (b) indicates an improvement in the b) technology used. c) Arrow (a) indicates a decrease in wages of the workers, arrow (b) indicates a decrease in the price of an alternative product d) Arrow (a) indicates a decrease in price of the product, arrow (b) indicates an increase in the price of the product. anpoud jo aa

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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