Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Q. Suppose that a firm's only variable input is labour. When 50 workers are used, average product of labour is 50 and marginal product of labour is 75. Wage rate is $80 and total cost of fixed input is $500.
a. Illustrate what is average variable cost? Explain how your calculations.
b. Illustrate what is marginal cost? Explain how your calculations.
c. Illustrate what is average total cost? Explain how your calculations.
d. Is each of following statements true or false?
Explain your answer.
1. Marginal cost is increasing.
2. Average Variable cost is increasing.
3. Average total cost is decreasing.
Explain how does it affect consumer surplus, producer surplus, government revenue, and total surplus. Is it a good policy from the standpoint of economic efficiency.
Illustrate what is the optimal production quantity measured in thousands of bushels of Texas Citrus Company in the short run.
Among different market structures, which one do you believe provides the highest possible return for a new company as well as why.
Why is it important to know Elucidate how much output is being produced
Illustrate what is the difference between absolute advantage and comparative advantage. If a country has an absolute advantage in both goods.
Illustrate what is OPEC's optimal level of production? Illustrate what is the prevailing price of oil at this level.
What is expected salary of a CEO who has been with company for years. Construct a 95% confidence interval on prediction for average CEO who has been with company for 10 years.
Illustrate what happen if her actual disposable income is $16,000, her level of consumption or saving will be.
Illustrate wage would a monopoly union demand. Explain how many workers would be employed under the union contract.
Assume the Bank of Japan allowed the money supply to grow by 2% each year while the Bank of Korea chose to maintain relatively high money growth of 12% per year.
Discuss Soutwest Delta airlines merger and describe the competitive environment within the industry. Is there a dominant firm.
Why manufacturer guarantees the computer for one year only. The cost of the extended warranty is $150. Analyze this proposition using the concepts you learned in the module on risk analysis.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd