Jay has opened a pizza restaurant. For this restaurant there are only two inputs, rent, and workers.The space is leased at $200 per day. Each worker costs $100 per day.(a) Complete the table below:Labor QuantityFixed CostsVariable CostsTotal CostsАТС1102253454607075ENTER YOUR ANSWERS WITHOUT DOLLAR SIGNS. PLEASE ROUND TO THE NEAREST CENT.IF YOUR ANSWER IS A WHOLE DOLLAR, DO NOT INCLUDE A DECIMAL WITH ZERO CENTSATTACHED (Ex. if your answer is $3.333333, enter 3.33, if your answer is $25.00 just enter 25)72re to search

Cost refers to the total expenses that incur in process of production of goods and services by a…

Jay has opened a pizza restaurant. For this restaurant there are only two inputs, rent, and workers. The space is leased at $200 per day. Each worker costs $100 per day. (a) Complete the table below: Labor Quantity Fixed Costs Variable Costs Total Costs ATC 1 10 3 45 4 60 70 75 ENTER YOUR ANSWERS WITHOUT DOLLAR SIGNS. PLEASE ROUND TO THE NEAREST CENT. IF YOUR ANSWER IS A VWHOLE DOLLAR, DO NOT INCLUDE A DECIMAL WITH ZERO CENTS ATTACHED (Ex. if your answer is $3.333333, enter 3.33, if your answer is $25.00 just enter 25) 25 5,

Jay has opened a pizza restaurant. For this restaurant there are only two inputs, rent, and workers. The space is leased at $200 per day. Each worker costs $100 per day. (a) Complete the table below: Labor Quantity Fixed Costs Variable Costs Total Costs ATC 1 10 3 45 4 60 70 75 ENTER YOUR ANSWERS WITHOUT DOLLAR SIGNS. PLEASE ROUND TO THE NEAREST CENT. IF YOUR ANSWER IS A VWHOLE DOLLAR, DO NOT INCLUDE A DECIMAL WITH ZERO CENTS ATTACHED (Ex. if your answer is $3.333333, enter 3.33, if your answer is $25.00 just enter 25) 25 5,

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Weekly production for a potter varles with the number of workers employed, as shown in the table below. Number of workers 1 2 3 4 5 Total product (units of pots) Marginal product Average product 0 90 360 486 540 435 90 90 a. Enter the values of marginal product, when adding each worker, in the table above. Include a minus sign (-) when entering any negative values.
labour total product 0 0 1 8 2 18 3 25 4 30 5 33 6 34 if the fixed price of land is 1000 and firm pay 750 to each worker then calculate, Fixed cost, variable Cost, Marginal Cost, Average variable Cost (AVC), Average Fixed Cost(AFC), and Average total cost(ATC).
Sam owns and operates ye olde yogurt shoppe. His revenue this year was $135,000. he paid food supplier $50,000 for fruit, yogurt and milk and paid $5000 For paper and cleaning supplies. In addition to working again the store himself, he hired student lady to work part time and it cost him $25,000 in labor costs. He paid $12,500 to rent his store. He borrowed money from bank and had to pay them $5000 in interest costs. To run his company, sam gave up $50000 per year job and $1500 in interest amount he put into the business. He estimates that companies similar to his earn at least $6750 over costs. 1. separate(list) sam's accounting costs into fixed costs be variable costs by name and amount. 2. list each of sam's implicit costs by name and amount 3. calculate sam's economic profit/loss. Show what costs are included, and if Sam expects the Sam revenue and costs next year, he should continue in this business? Why/ why not?
Market Basket 1990 (Base Year) 2010 2011 Product Quantity Price Price Price A B C D 8 12 21 16 If your answer is not a whole number, round to two decimal places. What is the cost of the market basket in 1990? $ $4 $6 $7 $6 $9 $9 $7 $9 $10 $10 $14 $13 A/ What is the cost of the market basket in 2010? $ A What is the cost of the market basket in 2011? $ What is CPI in 1990? A/
TOTAL AND MARGINAL PRODUCT Total Product [Output] 70 60 50 40 30 20 10 0 Marginal Product 20 10 0 -10 -20 1 Labor Input 1 2 2 2 3 3 4 4 5 5 6 6 7 7 Reset 8 Labor Input 8 Labor Input PRODUCTIVITY CALCULATIONS Labor Input 0 Output 0 Marginal Product Instructions: Move the slider at the bottom of the diagram to change the quantity of labor hired for both graphs and the table. Move the production slider to 4 units of labor. Suppose you had the information for the L=1 row and the L-4 row, but the row(s) in between them were missing and you didn't have any information in the Marginal Product column. If you wanted to estimate the marginal product, you might assume the marginal products of each of the 3 additional workers are equal. a. Estimate the marginal product of each additional worker if L were to increase from 1 to 4. b. Calculate the slope of the total production function between L-1 and L=4. L
this is all information provided. no more info provided what you see here is all I see as well just in case you think its incomplete because I sent this couple minutes ago and they said it was incomplete.
● Suppose government mandates required firms to make 'safety expenditures' on behalf of workers that did not improve labor productivity. Describe the scale and substitution effects these mandates would have in the labor market.
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0 Labor Output 0 Marginal Product Variable Fixed Cost Cost -- $0 $5 1 100 100 $5 $5 2 250 $10 $5 3 350 $15 $5 4 50 $20 $5 5 25 $25 $5 6 430 $30 $5 3. What is the marginal product of the second worker? Show your work.
Total Product 75 68 66 57 42 15 0 23 never intersect the horizontal axis. 5 6 7 8 Refer to the figure above, if the marginal product of labor curve was plotted on this figure, with marginal product on the vertical axis, the marginal product of labor curve would Labor (units) reach its maximum at the 5th unit of labor. intersect the horizontal axis at a point somewhere beyond the 8th unit of labor. intersect the horizontal axis at a point between the 5th and 6th unit of labor.
(a) Why does the labour demand curve slope downwards? (b) A garment factory’s production function is provided in the table.The gross profit per unit (difference between selling price and material cost, but not including the cost of labour) is $100. # Workers Output 1 20 2 36 3 48 4 56 5 60 6 62 (i) If the wage rate is $1,000 a week, how many workers should the factory hire? (ii) If a surge in popularity for the factory’s brand allows them to raise the product price such that the gross profit rises to $150, how many workers will the factory hire now? (iii) Calculate the number of garments produced in each of the two cases above.