Aes New R...11A A-abe X2 X2A.St$400A farm is currently able to produce 10,000 bushels of peanuts per season on 10 acres. Assume iadds one more acre and now is able to increase its total production to 12,000 bushels of peanutsduring the growing season. Determine the marginal product of the additional acre (the 11th acreof land for this farm.MP | 1AZ

Marginal product: The marginal product of an input is the change in the output that results from a…

Answered: A es New R... 11 A A- abe X2 X2 A. St…

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 2SCQ: Continuing from Exercise 7.1, the films factory sits on land owned by the firm that it could rent...

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Output Average Fixed Average Variable Average Total 1 2 3 4 5 6 7 8 9 10 Cost $300 150 100 75 60 50 43 38 33 30 Cost $100 75 70 73 80 90 103 119 138 160 I Cost $400 225 170 148 140 140 146 tel:7%2043%20103%20146 % 20180 171 190 If the market price for the firm's product is $180, the firm will produce A) 7 units and earn economic profits of $278. B) 7 units and earn economic profits of $238. C) 8 units and earn economic profits of $120. D) 8 units and earn economic profits of $278. Marginal Cost $100 50 60 80 110 140 180- 230 290 360
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Consider the quarterly demand levels for electricity (1000 megawatts) in Polokwane from 2015 to 2018. Quarter 2015 2016 2017 2018 Jan March 21 35 39 78 Apr- June 42 54 82 114 July- Sept 60 91 136 160 Oct- Dec 12 14 28 40 Using the third period moving average Determine the adjustment factor: O a) 1.000 b)0.828 c) 0.758 d) 0.799

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