Illustrate what is the marginal cost of the fifth worker

Assignment Help Business Management

Reference no: EM1396309

Q. You have been hired to manage a small manufacturing facility whose cost also production data are given in the table below.

No. of workers Total Labour Cost Output Total Revenue
1 $150 100 $170
2 300 108 550
3 450 114 1150
4 600 119 1470
5 750 123 1600
6 900 125 1700
7 1050 126 1750

Illustrate what is the marginal product of the second worker?

Illustrate what is the marginal revenue product of the fourth worker?

Illustrate what is the marginal cost of the fifth worker?

Based on your knowledge of marginal analysis, explain how many workers should you hire?

Reference no: EM1396309

Questions Cloud

Explain why a leader is important : Discuss what Bowers also Seashore meant by this, also comment upon explain why a leader is important, assuming which they are not supplying.

Distinguish between options and reaching a consensus : Create the paper which includes one or more of learning objectives for this course. For instance: Suggest the bargaining mix in the specific negotiating case.

Determining the coefficient of coincidence : Recessive mutant alleles of an x-linked gene in Drosophila, crossveinless, prevent the development of supporting structures in the wings.

Use chi square analysis to test your model : use chi square analysis to test your model - how could you explain this inheritance at the molecular level.

Illustrate what is the marginal cost of the fifth worker : Illustrate what is the marginal cost of the fifth worker? Based on your knowledge of marginal analysis, explain how many workers should you hire?

How would batesian mimicry have an affect on ecology : How would batesian mimicry have an affect on ecology.

Inoculating pr glucose broths with organisms : Phenol Red Broth is a differential test medium prepared as a base to which a carbohydrates is added. Included in the base medium are peptone and the pH indicator phenol red.

Elucidate the steps you conducted in completing assignment : Is beta an accurate measure of risk? Explain why or explain why not? Is the Fama-French model a better model in elucidating securities' returns? Explain why or explain why not?

Completing the introductory statistics course : A university has found that 20% of its students withdraw without completing the introductory statistics course. Assume that 20 students have registered for the course this semester.

User Account

All Pages