> Consider this total product function with a single variable input, labor (L) per day: TPL = Q(L) = 10L½ %3D > The wage (price) of labor is W = 500 per day. a. Solve the total product function for L as a function of Q. L = QLL) = 1OL"2 %3D %3D a. Derive the equation of variable cost, VC(Q). Then write the equations of AVC and MC. VC = AVC = MC = b. Graph: VC MC AVC

> Consider this total product function with a single variable input, labor (L) per day: TPL = Q(L) = 10L½ %3D > The wage (price) of labor is W = 500 per day. a. Solve the total product function for L as a function of Q. L = QLL) = 1OL"2 %3D %3D a. Derive the equation of variable cost, VC(Q). Then write the equations of AVC and MC. VC = AVC = MC = b. Graph: VC MC AVC

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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ull touch LTE 10:11 PM @ O 35% Done A docs.google.com AA C account * Required Section C Which of the following statements is true? * If average product equals marginal product, average product decreases. If marginal product equals average product, marginal product is a maximum. If marginal product equals average O product, average product is a maximum. If marginal product exceeds average product, marginal product increases.
Fakultesi iktisat (Ingilizce) 2020-2021 Bahar Sına Marginal cost is given by 20 + 10Q- 12Q². Fixed cost is 100. What is the average cost? 100 3Q2 + 20Q + 20 + Q Uygul O B. 100 4Q? + 5Q + 20 Kalan 20 O C 30? + 10Q + 80 + 20 4Q² + 5Q + 80 + Q O D. Seçimimi temizle Sonraki sayfa
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1 2 WN 3 4 5 6 7 8 9 WN=86 10 11 12 A B Capital (K) 1 1 1 1 1 1 1 1 1 1 с Labor (L) 1 AWNP 2 3 4 5 6 7 8 9 10 Total Product (TP) 10 Average Product (AP) 10 12.33 12.25 == 10.67 9.57 8.38 5.8 22 37 58 64 67 E 64 F Marginal Product (MP) 10 12 12 9 3 -3 -6 G 13 14 a. Complete the table above (SHOW FORMULAS USING EXCEL) 15 b. Create the graph of Total Product, Average Product, and Marginal Product as a function of Labor (SHOW STEP BY STEP PROCESS USING EXCEL) 16
SHOW FORMULAS ON EXCEL PLEASE STEP BY STEP
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workers ouput marginal product total cost average total cost marginal cost 0 0 0 200 0 $0 1 20 20 300 $15 $5 2 50 30 400 $8 $3.33 3 90 40 500 $5.56 $2.50 4 120 30 600 $5 $3.33 5 140 20 700 $5 $5 6 150 10 800 $5.33 $10 7 155 5 900 $5.8 $20 a.) can you explain dimisnishing marginal product based on those numbers? b.) compare the column for average total coat and the column for marginal cost. Explain the relationship.
What type of information is not required in a Work Breakdown Structure? who recorded the data O group roles, like leader and spokesperson who is responsible for submitting the assignment Owho lead the teamwork discussions
the next hree le production schedule for Great Balls of Fire, a food truck that sells alls of Fire has a lease on the truck itself that costs $1200 per week that at the food truck produces and sells any meatballs. They may hire up to ind sell the meatballs, workers cost $600 per week. The production any meatballs would be produced with the varying levels of employees. Fixed Costs Variable Cost Total Cost Average Variable Cost 30 0 1200 30 1800 3000 3000 30 3000 4200 2100 30 3600 4800 1600 le, please round all answers to the nearest cent. Do not enter any its (Ex. If your calculator says 12.376, just enter 12.38.) If your answer is I don't need to include the cents (Ex. you may enter 10 instead of 10.00) tting to the outer columns to enter your answer. First, make sure you try extending your browser window, pull the corner out so the window is TAB button on your keyboard to move between cells to get to the column that works, you can email me your answers to this question. Average Total…
Output (Concession Stand Items) Number of Workers Employed Per Day Price of Labor Per Worker Per Day Total Variable Cost of Labor Total Fixed Costs Per Day Total Cost Per Day Average Price of Concession Stand Items Total Revenue Profit Average Variable Cost Average Fixed Cost Average Total Cost Marginal Cost Marginal Revenue 0 0 $120 0 $2,000 2000 $8.00 0 -2000 0 0 0 0 8 100 2 $120 240 $2,000 2240 $8.00 800 -1640 2.40 20 22.40 2.40 8 400 4 $120 480 $2,000 2480 $8.00 3200 720 1.20 5 6.20 0.80 8 750 6 $120 720 $2,000 2720 $8.00 6000 3280 0.96 2.66 3.62 0.67 8 900 8 $120 960 $2,000 2960 $8.00 7200 4240 1.07 2.22 3.29 1.60 8 1,025 10 $120 1200 $2,000 3200 $8.00 8200 5000 1.17 1.95 3.12 1.92 8 1,125 12 $120 1440 $2,000 3440 $8.00 9000 5560 1.28 1.77 3.06 2.40…
The table below shows the costs incurred at Polly's potato farm. Complete the table. >>>Answer to 2 decimal places. L 0 1 2 3 4 4000-60 2017 0-0000-0000-0000 TP TVG TC 0 0 70 32 92 212 292 30 60 90 130 AFC 120 190 2.19 160 0.33 AVC ATC 0.94 3.13 0.65 1.41 0.24 0.41 0.75 MC 0.94 0.50 0.25