Calculate the mp and the ap for each worker

Assignment Help Business Economics

Reference no: EM131236792

a. Suppose that 0 workers generate 0 output, 1 worker generates 8 units of output, 2 workers generate 20, 3 workers generate 35, 4 workers generate 45, and 5 workers generate 47 units of output, 6 workers generate 47 units of output, while 7 workers generate 44 units of output. Show all work.

b. Calculate the MP and the AP for each worker (15) g. At what point do diminishing returns set in? How would we know this had occurred?

c. Clearly and accurately graph the TP curve, MP curve, AP curve based on the above data.

Reference no: EM131236792

Questions Cloud

Choose target market for product : Choose a target market for a product and describe your target market in detail, create a new product for tyson foods company that would appeal to your target and develop atleast one question for each characteristic of the target market

Calculate the volume production for the equilibrium point : If the marginal income is 100-0.02n and the total cost is 0.0002n^(2)+ 10000, where n is the cost of production of a tool . a) Calculate the production volume to minimize the cost per unit. calculate the volume production to maximize the gain. calcul..

Strong international competitive position : What recommendations would you give to the Brazilian government and its outsourcing industry in order to improve their prospects for success in building a strong international competitive position in the information technology outsourcing business?

Find production function for any apple product : How several firms determine their production quantities in a market? How an employee and an employer determine the salary in a contract? (For example Foxconn) Can you find production function(Revenue-Cost) for any Apple product?

Calculate the mp and the ap for each worker : Suppose that 0 workers generate 0 output, 1 worker generates 8 units of output, 2 workers generate 20, 3 workers generate 35, 4 workers generate 45, and 5 workers generate 47 units of output, 6 workers generate 47 units of output, while 7 workers gen..

Identify all pure and mixed-strategy nash equilibria : Given these profits, Firm 2 want to match Firm 1's price, but Firm 1 does not want to match Firm 2's price. Does wither firm have a dominant strategy? Does this game have a unique, pure strategy Nash equilibrium? Identify all pure- and mixed-strategy..

History for credit? cards-car? loans-home? mortgages : A score of 898 is the best? (highest) score possible. Thirty-nine percent of the FICO score is based on payment history for credit? cards, car? loans, home? mortgages, and so on. Suppose your current FICO score is 740 and you have just missed a credi..

The role the individual plays in the world economics : The Role the Individual Plays in the World Economics and Finance Braddock, PA, is a city with problems similar to many areas in New York's Upstate, Central and Southern Tiers regions. For many of us, the experience of living in this region is very si..

Primary characteristics of relationship include mutuality : The primary characteristics of a “relationship” include mutuality, interaction, iterative nature, ongoing benefit, change in behavior, uniqueness, and trust. Think about a company with which you have a strong relationship. How are each of these attri..

User Account

All Pages