The production function for Good X:MMarginalProluct ofCapitalAP, (OKAverageProduct olCapitalLabor Capital Ouiput6.10575.75.706.2032426.716.209.3065733.3B401,07241.526 806.501.52445.230.48601.97645.23293702,39141.534.169.802,72433.334.052.99133.231003,0485.730.483,0162.945T10-3.227.426.120-7.124.542) The marginal product of capital of producing 2,991 units of outout (find point A) in the above table isequal to what?

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The production function for Good X: Marginal Product of Capital AP,OK Average Product of Capital Labor Capital Outpal 9. 10 57 5.7 5.70 20 30 324 267 16. 20 657 33.3 415 %3D 1,072 1.524 1,976 2.391 40 26 KO 50 45.2 30.48 3293 34 16 60 45.2 70 41.5 80 2,724 2.991 33.3 34.05 33 23 5.7 30.48 27.42 100 3,048 3.2 -7.1 T10 3,016 120 2945 24 54 2) The marginal product of capital of producing 2991 units of outout (find point A) in the above table is equal to what?

The production function for Good X: Marginal Product of Capital AP,OK Average Product of Capital Labor Capital Outpal 9. 10 57 5.7 5.70 20 30 324 267 16. 20 657 33.3 415 %3D 1,072 1.524 1,976 2.391 40 26 KO 50 45.2 30.48 3293 34 16 60 45.2 70 41.5 80 2,724 2.991 33.3 34.05 33 23 5.7 30.48 27.42 100 3,048 3.2 -7.1 T10 3,016 120 2945 24 54 2) The marginal product of capital of producing 2991 units of outout (find point A) in the above table is equal to what?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Ch07. ppt (Compatibility Mode] - Microsoft PowerPoint SIGN ANIMATIONS SLIDE SHOW TRANSITIONS REVIEW VIEW -|24 - AA E-E-E . lh Text Direction Align Tert- Shape Fil- 7 Shape Outline- Convert to SmAn- } Stvles - O Shape Effects Layout Reset BIUS A- Aa A Arrange Quick Section- es Font Paragraph Drawing Optimal Level of Variable Input Usage • Define the following • Total Revenue Product (TRP) = Q•P • Marginal Revenue Product (MRP) = ATRP A(Q P) P•AQ = P• MP AX AX AX • Total Labor Cost (TLC) =w•X ATLC = W • Marginal Labor Cost (MLC) = AX 2003 Prentice Hall Business Publishing Managerial Economics, 4/e Keal/Young NOTES COMMENTS Mehwish Bhatti's screen
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