Give me both answer with full explanation You pay for school tuition, and for each class you attend. Suppose that you stopped attending class after the first semester,but still pay school tuition. Which of the following is this an example of?Sunk costEquimarginal principleO Positive net gainO Marginal product of laborQUESTION 4Evaluate the following statement:"A firm producing at the point where marginal benefit is not equal to the derivative of total cost is adhering to theequimarginal principle"FalseTrue

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You pay for school tuition, and for each class you attend. Suppose that you stopped attending class after the first semester, but still pay school tuition. Which of the following is this an example of? O Sunk cost O Equimarginal principle O Positive net gain O Marginal product of labor QUESTION 4 Evaluate the following statement: "A firm producing at the point where marginal benefit is not equal to the derivative of total cost is adhering to the equimarginal principle" O False True

You pay for school tuition, and for each class you attend. Suppose that you stopped attending class after the first semester, but still pay school tuition. Which of the following is this an example of? O Sunk cost O Equimarginal principle O Positive net gain O Marginal product of labor QUESTION 4 Evaluate the following statement: "A firm producing at the point where marginal benefit is not equal to the derivative of total cost is adhering to the equimarginal principle" O False True

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter7: Production And Cost In The Firm

Section: Chapter Questions

Problem 3.9P

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An economic consultant is presented with the following total product table and askedto derive a table for average variable costs. The price of labor is $10 per hour. Labor TP 1 5 2 15 3 30 4 36 5 40 a) help him do so b) show that the graphs of the average productivity curve and average variable cost curve are mirror images of each other. c) show the marginal productivity curve for labor imputs between 1 and 5. d) show that the marginal productivity curve and marginal cost curve are mirror images of each other.
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3.2.2 Use the law of diminishing marginal returns to explain the shape of the marginal physical product of labor curve.