Stephanie produces earrings. She sells each pair of earrings for $5. The table below shows how many pairs of earrings can be produced, depending on the number of workers Stephanie hires. Fill in the "Total Revenue" and "Marginal Revenue Product" columns using the information given. Assume this is a perfectly competitive market. Instructions: Enter your answers as a whole number. Stephanie's Earring Shop and Revenues Labor Total Product (pairs of earrings) (workers) e e 1 35 2 52 3 67 4 81 5 93 6 102 7 108 Marginal Product (pairs of earrings) 35 17 15 14 12 9 6 Price (dollars) $5 5 5 5 5 5 5 5 Total Revenue (dollars) se Marginal Revenue Product (dollars) $

Stephanie produces earrings. She sells each pair of earrings for $5. The table below shows how many pairs of earrings can be produced, depending on the number of workers Stephanie hires. Fill in the "Total Revenue" and "Marginal Revenue Product" columns using the information given. Assume this is a perfectly competitive market. Instructions: Enter your answers as a whole number. Stephanie's Earring Shop and Revenues Labor Total Product (pairs of earrings) (workers) e e 1 35 2 52 3 67 4 81 5 93 6 102 7 108 Marginal Product (pairs of earrings) 35 17 15 14 12 9 6 Price (dollars) $5 5 5 5 5 5 5 5 Total Revenue (dollars) se Marginal Revenue Product (dollars) $

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Discussing the working of Multipier explain its leakages
What are the Revenue projects?
Which type of graph will be suitable for representing the above sales revenue by regions
List a chart with Numbers of the Economic Lost of Wind turbines due to environmental Concern
Please answer question D
after 2 years?
How about 5-7?
1.A property costs $1,000 today. If it is apreciating at a rate of 5%, calculate its price in 5 years.
What is demend?
1. A steel bar manufacturer business can make 15000 bar a week. It is determined that to achieve this production, the company need to spend 90000 pesos weekly for materials, utilities and transportation. The manager also pays a fixed cost of 10000 pesos per week. HOW MUCH per steel bar should they sell to gain a profit of 40% of the total cost?
Answer parts d and e
Explain the difference between real and personal property.