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?

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

See similar textbooks

Similar questions

DO >> # O ? O CENGAGE MINDTAP HW (Ch 13) Suppose the imaginary company of Roobek is a small, Cedar Rapids-based American apparel manufacturer specializing in athleisure. The following table presents the brand's total cost of production at several different quantities. Fill in the remaining cells of the following table. Quantity (Pairs) 0 240 L234 1 5 .6 Total Cost Marginal Cost (Dollars) (Dollars) T 120 210 270 315 380 475 630 MindTap - Cengage Learning AAAAA Fixed Cost Variable Cost (Dollars) (Dollars) I Average Variable Cost (Dollars per pair) On the following graph, plot Douglas Fur's average total cost (ATC) curve using the green points ftriangle symbol). Next, plot its average variable cost (AVC) curve using the purple points (diamond symbol). Finally, plot its marginal cost (MC) curve using the orange points (square symbol). (Hint: For ATC and AVC, plot the points on the integer; for example, the ATC of producing one pair of boots is $210, so you should start your ATC curve by…
Berger Paints sold the following volumes of white paint over the last four as shown (week 1-750 kg, week 2-825 kg, week 3-625 kg, week 4- 568 kg), Using the following weights accordingly 0.1, 0.2, 0.3, 0.4 project what week 5 projected volume. a. 465 b. 324 Oc. 655 d. 326
2. Table 1 below shows the number of baskets produced by a Bentle Weavers in the short run using three machines and labour. Use this table to answer the question below Capital 3 3 3 3 3 Labour 0 1 2 3 4 Total Product 10 Marginal Product 15 What is the maximum value of total product for this firm? a) 48 b) 25 c) 10 d) 40 Average Product 16 10
9.
7
Given the hourly costs: Machine-P60; Worker-P50 Each input has to work in integer hour Hours Used 1 2 3 45 6 98 7 8 Marginal Product Machine 15 18 21 18 15 12 9 3 Worker 8 10 10 10 8 8 6 6 4 42 2 If the daily budget for the 2 inputs is P570, what is the optimal mix of machine-hours and worker-hours, respectively? [Select] What is the total product for this optimal mix of machine- hr & worker-hr with daily budget of P570 ? [Select] After how many hours of use does diminishing marginal return (product) set in for the machine?
1. Suppose your current job pays you $300,000 a year. However, you are considering starting your own company. Based upon your research, you estimate your first year total revenue to be $7,500,000. There are however several costs of running the company during this first year, such as the cost of materials which will equal $2,750,000, employees who will receive in total $1,500,000, utilities which will cost $1,200,000, and rent that will be paid to the landlord that equals $1,800,000. Based on this information, solve for both your accounting profit and economic profit during this first year. Also, based upon these profit values, state whether you are better off starting this company or staying in your current job.
9. For the cost function CIO) = 100 - 20 - 302, the marginal cost of producing 2 units of outout is a. 2 b. 3 C. 12 D. 14
(Figure: Determining Marginal Returns) Based on both the table and the figure, adding a third worker leads to marginal returns. Average Product and Marginal Product Output 1 2 3 14 Labor 5 6 17 12 10 8 6 4 8 9 10 0 -2 BAY constant 2 Total Product O negative 5 12 21 31 40 48 54 57 57 increasing 54 diminishing 4 MP 5 7 9 10 9 8 6 3 0 3 6 Workers AP 5 6 7 7.75 8 8 7.71 7.12 6.33 5.4 8 10 12
9. For the cost function CC) = 100 - 20 - 302, the marginal cost of producing 2 units of outout is a. 2 b. 3 c. 12 D. 14
Marginal cost Average total cost Average variable cost Average fixed cost Total cost Variable cost Fixed cost Output Labor - - - - 60 0 $60 0 0 70 130 70 60 130 70$ $60 1 1 14 33.33 23.33 10 200 $140 $60 6 2 14 24.54 19.09 5.45 270 $210 $60 11 3 17.5 22.66 18.66 4 340 280$ $60 15 4 25.55 24.55 19.1 3.16 410 $350 $60 18 5 70 25.25 22.10 3.15 480 $420 $60 19 6 Draw the short run total cost curve (show the total cost, fixed cost, variable cost). Where the marginal cost and average total cost intercept? Explain the relationship between the marginal cost and the average total cost with the help of graph.
Kindly assist on question 1 and 2 1The difference between zero accounting profit and zero economic profit is that. a) an economic profit of zero indicates a fair return because it includes the opportunity cost of a firms capital. b) an economic profit zero indicates unacceptable rate of return because it does not include the opportunity cost of a firms capital. c) an economic profit of zero indicates more than a fair return because it includes opportunity cost and explicit cost. d) an accounting profit of zero indicates a fair rate of return because it includes the opportunity cost of a firms capital. 2.If a corporation is sued and losses the lawsuit, it's liability to pay. a) is imposed on all stockholders, personally b) is imposed only on the corporate CEO and the board of directors. C) its limited to the assets held in the corporations name. d) is imposed on the bondholders of the corporation