Assume that an economy producing two products

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Q. Assume that a firm's only variable input is worker. When 50 workers are used the average product of worker is 50 also the marginal product of the 50th worker is 75. The wage rate is $80 also the total cost of the fixed input is $500.

Q. Assume that an economy producing two products, skateboards also in-line skates, is initially in equilibrium also that skateboards also in-line skates are substitutes. If consumer preferences shift away from skateboards also toward in-line skates, elucidate which of the subsequent will NOT occur

Reference no: EM1321753

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