Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter11: Labor Markets
Section: Chapter Questions
Problem 20SQ
Related questions
Question
Fill in the table and answer the given questions.
Transcribed Image Text:VI (LABOR)
0
2
4
6
8
10
TP
0
AP
MP
10
22
18
12
4
STAGES OF
PRODUCTIO
N
TFC
TVC
TC
AFC
FACTORY OVERHEAD EXPENSES = P10,000.00
WAGE RATE PER LABOR OR WORKER =P600.00
AT WHAT OUPUT LEVEL WILL YOU PRODUCE IF SELLING PRICE IS SP1? WHY?
HOW MANY WORKERS OR LABOR WILL YOU HIRE IF SELLING PRICE IS SP1? WHY?
AT WHAT OUPUT LEVEL WILL YOU PRODUCE IF SELLING PRICE IS SP2? WHAT SPECIFIC SP2 WILL YOU CHARGE? WHY?
HOW MANY WORKERS OR LABOR WILL YOU HIRE IF SELLING PRICE IS SP2? WHAT SPECIFIC SP2 WILL YOU CHARGE? WHY?
WHAT IS THE MOST EFFICIENT RATE OF OUTPUT IF THE PREVAILING PRICE IS SP1?
WHAT IS THE MOST EFFICIENT RATE OF OUTPUT IF THE PREVAILING PRICE IS SP2?
AVC
AC
MC
SP1
200
200
200
200
200
200
TR1
MR1
PROFIT 1 CONDITION 1
SP2
250
240
230
220
210
200
TR2
MR2
PROFIT 2 CONDITION 2
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