(Table) Based on the table, what is the value of B? Units of Labor Quantity of Output Product Price Marginal Revenue Product 1 20 $10 2 28 10 A 3 35 10 B 4 41 10 C 5 D 10 $30 6 35 10 $350 $35 $70 $7
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- (a) The table below shows the relationship between number of workers hired and output. Total Total Marginal Marginal Price Labour Product (unit) Revenue Revenue Product (RM) (RM) Product 20 1 50 20 2 90 20 3 20 600 4 20 400 20 200 155 20 Complete the table.UNITS OF VARIABLE TOTAL MARGINAL AVERAGE PRICE OF INPUT PRODUCT PRODUCT PRODUCT INPUT TOTAL VARIABLE COST AVERAGE VARIABLE COST TOTAL FIXED TOTAL AVERAGE TOTAL MARGINAL COST COST COST COST 012345678 0 $1 $2 6 $1 2 15 $1 27 $1 37 $1 45 $1 50 $1 52 $1 50 $1 ଖ ଖ ଖ ଖ ଖ ଖ ଖ ଖ ଖ $2 $2 $2 $2 $2 $2 $2 $2Exhibit 21-3 Marginal Physical Total Total Product of Variable Marginal Variable Fixed Input Input Variable Input Fixed Cost Cost Cost Output (units) (units) (units) (units) (dollars) (dollars) (dollars) 1 $500 $0 1 1 10 (A) $500 $200 (F) 1 25 (B) $500 $400 (G) 3 1 45 (C). $500 $600 (H). 4 1 60 (D) $500 $800 (1) 5 1 70 (E. $500 $1000 () Refer to Exhibit 21-3. The total cost of producing 45 units of output is а. $1,100. b. $1,000. c. $900. d. $950. e. $1,050.
- CIS 360 - Business Database Concepts – DB Design The following spreadsheet is a sample that is currently being used to track company data. However, employees have been complaining about the amount of maintenance needed to sustain the data. EMP_NAME PROJ_NUM PROJ_NAME EMP_NUM 1 Hurricane JOB_CODE JOB_CHG_HOUR PROJ_HOURS EMP_PHONE 101 John D. Newson EE 85.00 13.3 653-234-3245 1 Hurricane 105 David F. Schwann CT 60.00 16.2 653-234-1123 1 Hurricane 110 Anne R. Ramoras CT 60.00 14.3 615-233-5568 2 Coast 101 John D. Newson EE 85.00 19.8 653-234-3254 2 Coast 108 June H. Sattlemeir EE 85.00 17.5 905-554-7812 3 Satellite 3 Satellite 3 Satelite 110 Anne R. Ramoras CT 62.00 11.6 615-233-5568 105 David F. Schwann CT 26.00 23.4 653-234-1123 123 Mary D. Chen EE 85.00 19.1 615-233-5432 3 Satellite 112 Allecia R. Smith BE 85.00 20.7 615-678-6879 1. List the issues that will arise by using this as a way to store and maintain company data. Use the actual data as examples in your explanation. 2. Create a…Exhibit 21-3 Marginal Physical Total Total Product of Variable Marginal Variable Fixed Input Input Variable Input Fixed Cost Cost Cost Output (units) (units) (units) (units) (dollars) (dollars) (dollars) 1 $500 $0 1 1 10 (A) $500 $200 (F) 1 25 (B) $500 $400 (G) 3 1 45 (C). $500 $600 (H). 4 1 60 $500 $800 (1). 5 1 70 $500 $1000 (). Refer to Exhibit 21-3. The marginal cost figures in blanks (F) and (G), respectively, are O a. $2.00 and $1.33. b. $20.00 and $13.33. c. $2.00 and $1.60. O d. $2.00 and $2.66.Average Annual Pay Industry (National Level, HR Specialist job) Arts and Entertainment (A) $57,790 Construction (B) $62,280 Mining (C) Occupation (National Level, all jobs) $69,850 Personal Care and Service $28,730 Education, Training, & Library $52,960 $120,740 Management Geographic Region (Lawyer job) Mobile, Alabama $121,910 Chicago, Illinois San Diego, California $128,006 $136,966 a) The relative pay difference between the Arts and Entertainment industry and the Construction industry is %. Round your response to the nearest hundredths place. ) The relative pay difference between the Arts and Entertainment industry and the Mining industry is %. Round your response to the nearest hundredths place. :) The relative pay difference between the Construction industry and the Mining industry is | %. Round your response to the nearest hundredths place.
- Number of workers Total products Marginal product Fixed cost variable cost Marginal cost 0 0 $100 $0 1 900 $100 $100 2 1900 $100 $200 3 2400 $100 $300 (A) The highest productivity level (AP) of worker is achieved at which number of worker? Prove your opinion WIth calculation. (B) At each number of workers, calculate the marginal product (MP) and determined at which level of worker does diminishing marginal product begin? (C) Calculate the total cost used to produce 2400 units of Good Y. (D) Calculate the marginal cost (MC) at each level of worker Leave answers in 2 decimal place.Quantity Total Cost MarginalCost Price Total Revenue Marginal Revenue Produced $100 $120 $150 $120 $202 $120 3 $257 $120 4 $317 $120 $385 $120 6 $465 $120 7 $562 $120 $682 $120Question 3 Consider a corn farmer with one acre of land. In addition to land, other factors include quantity of seeds, fertilizer, water, and labor. Assume the farmer has already decided how much seed, water, and labor he will be using this season. He is still deciding on how much fertilizer to use. Units of Fertilizer Total Ears of Corn Marginal ears of Corn 1 100 2 250 3 425 4 550 5 600 6 525 (a) Determine the marginal ears of corn and complete the table. (b) At what point does diminishing returns set in for the farmer? Justify your response.
- $1000) Average Incomes of Children with Low Income Parents (5) 9 50- 45- 40- 35- 30- 25- Upward Mobility versus Median Rent by Neighborhood Opportunity Bargains Normandy Parke 1,000 Central District 1,500 Median 2 Bedroom Rent 2,000 2,500 The image above displays the relationship between the cost of living as measured by the average rent of 2-bedroom housing, and income mobility as measured by the average income of children with low-income parents. Data for this image are from Seattle. Two neighborhoods are highlighted: Normandy Park and the Central District. Many people that receive housing vouchers would like to move to areas with high opportunities for their children, but assume those areas are too expensive. How do Normandy Park and the Central District illustrate the idea of *opportunity bargains"? there is a trade-off between the cost of living and higher income growth for the children. for families living in the Central District, Normand Park is more expensive to live in and has…Price Quantity (Dollars per lamp) (Lamps) Produce or Shut Down? Profit or Loss? 15 Shut down Loss 20 Shut down Loss 25 Either 0 or 45,000 Either shut down or produce Loss 55 60,000 Produce Break even 70 65,000 Produce Profit 85 70,000 Produce ProfitNumber of Workers Units Produced Marginal Product Average Product 0 0 —– —- 1 20 2 35 3 45 4 50 5 45