A)400 workers, $25 per dayB)600 workers, $35per dayC)600 workers, $70 per dayD)400 workers, $55per dayE)400 workers, $35 per day Monopsonistic Marketshaaia tr cot ofer (MPC tater(MAeee ofer ( T e inareno tWagr rdMRPQy efm do torote

A monopsnist is a sole employer of a labor and decides how much labor it wants to employ.

Answered: Monopsonistic Markets haaia tr cot ofer…

Business

Economics

Monopsonistic Markets haaia tr cot ofer (MPC tater (MAeee ofer ( T e inareno t Wagr rd MRP Qy ef m do torote

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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L (workers) 0 1 2 3 4 5 6 7 Q (units) 0 90 210 320 420 510 590 660 MPL (units) FC (S) greater than less than equal to not enough information VC TC AFC AVC ATC MC (S) (S) (S) (S) (S) The average fixed cost of producing 590 gadgets is _____ the average fixed cost of producing 510 gadgets.
c) Assuming that the cost of employing each worker is $220 per day (including wages and materials), and Custom Made Pot has daily fixed costs of $400, fill in Table B given below: Round your AVC and MC answers to one decimal place. Number of TP = WorkersOutput 1 2 3 4 5 6 18 80 180 240 280 294 7 TVC($) 6 220 440 660 880 1100 1320 TFC Table B 400 400 400 400 400 400 TC 620 840 1060 1280 1500 1720 AVC($) 22 5.5 3.67 3.67 G ATC 62 10.5 5.89 5.33 5.33 5.3 3.9 4.5 5.8 d) On the graph given below, plot the following points showing the quantity and dollar amounts. point of diminishing returns (D) most productive point (P) economic capacity (E) Once a point is plotted, a tool icon will pop up. You can use this to enter exact co-ordinates for your points as needed. Tools Question 1- CH 6: In-Class Activity x MC($) 0 220 220 220 220 220 Prev i 1 of 8 Next > O & https://exto.mheducation.com/ext/map/index.html? l
Suppose that the equilibrium wage for teachers in Iowa is $15/hour. Also suppose that Iowa raises its minimum wage to $14/hour. Because the equilibrium wage for teachers is (a) the new minimum wage, we would expect the number of teachers employed to (b) at the new minimum wage. (c) There will be of teachers.
The President of ACME wants to know why he shouldn't produce at the point when average costs are the lowest. Explain to him why this is not the best production level.
Please answer the coordinates.
See the cost information in the table below. The marginal cost of the 5th unit is Quantity produced/day Total Cost Variable Cost 0 $100 0 1 $150 $50 2 $175 $75 3 $225 $125 4 $300 $200 5 $400 $300 6 $550 $450
Suppose your business operates a machine at a cost of ?$200 per day whether it is used or not plus ?$25 for each hour it is used. Use the line drawing tool to draw the daily cost curve for this machine assuming an 8 hour day. Label the curve? 'cost'. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Quantity of Labor Total Product Total Revenue 1 4 $ 18 2 8 36 3 11 50 4 13 59 5 14 63 Refer to the given data. This firm's product price is A) $4.5. B) $4.25. C) $4.8. D) $18. Please explain/show your work, thank you! Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
(A) With P = 20, W = 25 and TFC = 500: Labor Output (Q) (L) 5 10 25 35 50 60 10 25 60 70 80 90 Marginal Physical Product of AVC=VC/Q ATC=TC/Q Labour (MPPL) 2 3 4 2 2 1 Average Physical Cost Product of (TC) (VC) Labour (APPL) 2 2.5 2.4 2 1.6 1.5 MPPL = Change in Q / Change in L APPL=Q/L TC = TFC + VC VC=W* L MC = Change in TC / Change in Q Total Variable Marginal Average Cost Variable 625 750 1125 1835 1750 2000 125 250 625 875 1250 1500 Cost (MC) 15 10 6 10 15 30 Average Total Cost Cost (AVC) (ATC) 12.50 10.00 10.42 12.50 15.63 16.62 62.5 30.00 18.75 26.21 21.88 22.22 Based on this table, answer this: 1. How much output will this firm produce? If the price of output increases to $30, how does your answer change? 2. If the productivity of labor increases by 10% (all else equal), how much more labor will the firm hire? 3. Below what price will this firm decide to produce zero units of output? (i.e. shut down)
CEO of Ganymede company produces goods with 500 customers where the number of customers is equal to Q produced, with the cost function TC = 2Q2 + 400Q + 1,300,000. Questions a. Determine fixed costs, variable costs and average costs that the customer musr pay. Describe the calculations! b.If the item sells for 5,000 and 7,000, determine the position of the company and can the company grow?
Bags/Participants Fixed Cost Variable Cost Total Cost 0 $1,700 $ - $1,700 100 $1,700 $500 $2,200 200 $1,700 $1,200 $2,900 300 $1,700 $2,700 $4,400 400 $1,700 $5,200 $6,900 500 $1,700 $9,000 $10,700 600 $1,700 $15,000 $16,700 700 $1,700 $23,800 $25,500 800 $1,700 $36,800 $38,500 900 $1,700 $55,800 $57,500 1,000 $1,700 $83,000 $84,700 Given the above information on cost, if you charge $15 per entry, what is the breakeven quantity of bags that you should order? At what quantity of bags will profits be maximized? A Use the profit maximizing rule, MR ≥ MC, buy 300 bags. B Use the profit maximizing rule, MR ≥ MC, buy 200 bags. C Use Qb = F/(MR-AVC) where Qb is the breakeven quantity to be determined, the optimal quantity of bags is 300. D Use Qb = F/(MR-AVC) where Qb is the breakeven quantity to be determined, the optimal quantity of bags is 200.