Emco Company has an assembly line of fixed size A. Total output is a function of the number of workers (crew size) as shown in the following schedule: Crew Size Total Output (No. of Workers) (No. of Units) 0 0 1 10 2 35 3 50 4 56 5 59 6 60 7 60 8 58 Determine the following schedules: (a) Marginal productivity of labor (b) Average productivity of labor (c) (d) Elasticity of production with respect to labor Draw and Show relationship MPL & APL

Q: Output(units per day) 10 20 30 Total costs($ per day) 40 54 62 80 Find the average total cost at the…

A: Average total cost is the per unit total cost , so here we calculate the average total cost by using…

Q: If the firm hires 5 employee, total fixed costs equals

A: Total fixed cost is the cost which is even exits when output is zero. So at zero output we have the…

Q: What is the difference between average product of labor and marginal product of labor? (b) Explain…

A: Average Product of Labor is calculated by dividing the total output produced by the firm with the…

Q: 10. If the total cost function for a product is given by: TC - 1500 + 3Q - 10 Q² + Q° And if the…

A: Given: Total cost function is: TC=1500+5Q-10Q2+Q3

Q: Graph these cost behaviour patters over a relevant range of 0 - 10,000 units:a. Variable expenses of…

A: In sub-part a, the variable cost per unit is given as $8. For each additional unit produce costs…

Q: (b) A firm has an average cost function 125, q? 4. 16 A(q) where q is the firm's output. (i)…

A: i) The average cost if minimum at that level of output where the first-order derivative of average…

Q: first.) (d) Show that when K = 4, CSR(q) = { if q ≤ 4 8 q²-4 if q ≥ 4 (e) Write out expressions for…

A: In short run, the capital input K is fixed and K=4 (given for part d) So labor is only one input…

Q: A firm's production function is given by Q=40K0.8L0.2 Each unit of capital costs $40 and each unit…

A: At optimal level:-                    MPLMPK=wr Where; MPL=dQdLMPK=dQdK

Q: Mad Mildred's Magic Mall by determining the Labor (workers/day) Output (units/day) 0 1 2 3 4 5 0 8…

A: Help mad Mildred magic mall by determining the missing values in the table.

Q: Suppose a firm uses capital K and labor L to produce output Q with the following production…

A: ***Since the student has posted a question with multiple subparts, the expert is required to solve…

Q: The increase in total cost that results from producing one more unit of output is the marginal cost.…

A: The firm produces various goods and services which incurs cost. The firm would result in the…

Q: Table: Production Function for Soybeans Quantity of labor (workers) 0 1 2 3 4 5 Quantity of soy…

A: Step 1: Given data :The cost of fixed inputs (land and tractor) is $150 per day.So, the value of…

Q: What is the relationship between average variable cost and total variable cost? a) They are always…

A: To understand the connection between average variable cost (AVC) and total variable cost (TVC), it's…

Q: (b) The total revenue curve of a firm is R(q) = 40q – 12q² and its q- 12.85q + 20 + 30 400 where q…

A: i). Firm’s total cost function:

Q: (a) Teddy J is a manufacturer of dish washing liquid . If his monthly demand function for 750ml size…

A: (i). we have q=4000-250p250p=4000-qp=16-q250For revenue we know,Revenue = price ×…

Q: Complete the cost table to make it consistent with the given numbers. 0 TC TFC TVC ATC AFC AVC MC 0…

A: The table you've provided is a cost table, commonly used in economics to analyze the costs…

Q: Cost, revenues (dollars) 4.00 3.50 0 MC 20 Quantity ATC MR If this firm is currently producing 20…

A: Cost refers to the amount of resources, such as money, time, effort, or resources, that must be…

Q: (4) w = 3. firm's production function is F(K, L) = 2√/K + L. Factor prices are r = 2 and (a) Find an…

A: The marginal product of labor represents the increase in output as a result of an increase in labor…

Q: What is a production function? Response option group It is the production technology It is the…

A: A production function highlights the relationship between quantities of physical inputs and…

Q: The graph shows the cost curves are they profit maximizing firm in a competitive market. If the…

A: In a competitive market, there are a large number of sellers and buyers who have full information…

Q: A firm can manufacture a product according to the production function Q = F(K, L) = KO.50LO.50. (a)…

A: The production function refers to the functional relationship between the given input and the…

Q: A  large-scale producer selling a wide range of soft drinks. (a) Outline and explain the sources of…

A: Diseconomies of scale occur when a business grows so large that the costs per unit increase. It…

Q: When the quantity of a variable input is increased from 3 units to 4 units the total output…

A:

Q: Water and electricity used in manufacturing company is an example of: A Manufacturing overhead -…

A: The markets are the place where the buyers of various goods, and services tend to meet and interact…

Q: The Cost and revenue funchon of a firm is given as /C=18+7Q+iOQ²+5Q3 and P = 1500Qt 3Q" ⑦Identify…

A: The cost function will include the fixed cost and variable costs. It will be shown as TC = FC + VC…

Q: Below is the cost structure for Syarikat Maju Jaya. Output (unit) Total Cost (RM) Total Fixed Cost…

A: 1. We can calculate Total variable cost by subtracting total fixed cost(RM) from Total cost(RM) for…

Q: As total output increases average fixed cost v (Click for List) constant at a maximum falling rising…

A: Variable costs refers to those costs which depends upon the level of output. These costs increases…

Q: When the quantity of a variable input is increased from 4 to 6 units, the total output increases…

A:

Q: Problem 4. The marginal cost C" for a product as a function of the number of units produced q is…

A: Fixed Cost = 5000MC is depicted in graph below ,

Q: 7 A firm has this cost function: C = 4000 - 7Q + 8Q2. The firm is currently producing 5 units of its…

A: Cost Function = C = 4000 - 7Q + 8Q2  where Q = 5

Q: Which of the following statements is (are) correct? (x)  In the short run, if a firm produces…

A: Fixed cost is the cost incurred by the producer for the purchase of fixed inputs. These costs do not…

Q: A firm's production function is given by Q=40K L Each unit of capital costs $40 and each unit of…

A: Given  Production function: Q=40K0.8L0.2              (1) Price of labor PL=$80  Price of capital…

Q: Mzanzi-Ndizvo (Pty) is a vaccine manufacturing company that has the following costs of production.…

A: A production function is a concept in economics that represents the relationship between inputs…

Q: (c) The cost function of a firm is given below: पतंजलि 4 Output Total Cost () 1 60 80 100 111 116…

A:

Q: 86. Average and marginal costs. The total daily cost (in dollars) of producing x city bikes is given…

A: Total cost function: The total cost is in dollars. The average cost function is the total cost…

Q: Table: Cost Data Quantity of Output 0 1 2 3 6 7 Variable Cost (VC) 0 50 70 100 140 190 250 320 Total…

A: The price a company pays on average as a fixed expense to create a good for the market is known as…

Q: a large-scale producer selling a wide range of soft drinks. (a) Outline and explain the sources of…

A: Diseconomies of scale occur when a business grows so large that the costs per unit increase. It…

Q: question 22-23. Number of Workers Hired 4 55 6 7 8 Question 22 Diminishing marginal returns set in…

A: Diminishing marginal returns, also known as the law of diminishing returns, is an economic principle…