Fill in the blanks in the table below. The problem is a "puzzle" so the blanks are not necessarily filled in sequentially. Instructions: Enter your answers as a whole number. If you are entering any numbers in thousands, such as "1000," do not use a comma separator in your answer. Average Product Marginal Product Labor Total Output 10 600 60 60 20 2,400 120 180 30 180 300 40 9,600 240 50 300 540 60 21,600 360

Fill in the blanks in the table below. The problem is a "puzzle" so the blanks are not necessarily filled in sequentially. Instructions: Enter your answers as a whole number. If you are entering any numbers in thousands, such as "1000," do not use a comma separator in your answer. Average Product Marginal Product Labor Total Output 10 600 60 60 20 2,400 120 180 30 180 300 40 9,600 240 50 300 540 60 21,600 360

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Solve it correctly please.
Answer b part
Construct the average fixed cost, average variable cost, and average total cost schedules and the marginal cost schedule.
Consider the following short run production information: Units of Total Marginal Product Average Product Labor Product of Labor of Labor 4 16 5 6. 120 30 The marginal product of the 5th unit of labor is equal to 36 O Insufficient information 26 28
8 Output Marginal Labor (Q) Product I of 20 1 20 50 2 3 100 4 10 5 130 135 In the table above, what is Marginal Product (MP) between 3 and 4 units of Labor? Select one: a. 15 b. 10 C. 20 d. 25
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