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The following table summarizes the short-run production function for your firm. Your product sells for $10 per unit, labor costs $40 per unit, and the rental price of capital is $10 per unit. Complete the following table, and then answer the accompanying questions.L K Q MPL APL APK VMPL0 5 01 5 202 5 603 5 1204 5 1605 5 1806 5 1907 5 1908 5 1809 5 16010 5 12011 5 60(a) Which inputs are fixed inputs? Which are the variable inputs?
(b) How much are your fixed costs?
(c) What is the variable cost of producing 40 units of output?
(d) How many units of the variable input should be used to maximize profits?
(e) What are your maximum profits?
(f) Over what range of variable input usage do increasing marginal returns exist?
(g) Over what range of variable input usage do decreasing marginal returns exist?
(h) Over what range of variable input usage do negative marginal returns exist?
Card 1, $4,500, 21%; Card 2, $5,700, 24%; and Card 3, $3,200, 18%. Interest compounds monthly on all loan balances. A credit card loan consolidation company has captured Mary's attention by stating they can save Mary 25% per month on her credit ca..
Determine the present worth of 5 annual deposits of $1,200 at the end of years 1 through 5, followed by 4 equal annual withdrawals of $700 at the end of years 4 through 7. Note that both years 4 and 7 will have a depsoit and a withdrawal. Interest..
At the end of that time a mild recesion slowed the development so the parties signed another contract for $190,000 per year for 2 more years. Determine the present worth of the two contracts at an interest rate of 10% per year.
An investment of $10000 generates a net revenue of $15000 per year for 10 years with the salvage values $20000 is this a good investment at i = 10% annually also determine the IRR
Economic growth, as examined through raise in real GDP per capita, is a target for most countries. This is often interpreted as an raise in economic welfare for citizens.
Barry, a Texas Crude Company engineer who did not take Engineering Economy while studying at Tech, recommended that Texas Crude purchase a special tool to reduce the cost of pumping oil out of the bayous of St. Martin Parish. As a result of Barry'..
.determine the amount of slack or surplus for each constraint (dont worry about this problem it has been emitted from the homework but if you can help me to understand this I would greatly apprecaite it) suppose the objective function is changed to..
An asset has an initial cost of $200,000, a salvage value of $25,000, and a recovery period of seven years. a. Find its book value after six years using the MACRS method. b. Find its book value after six years using the double declining balance metho..
To ensure that correct size of heart valve is available for heart surgery, Heart Plus, maker of valves employs salespeople to place and maintain inventories at hospitals in its market.
Consider a seller who values a car at $9,500 and a buyer who values the same car at $10,000. What total surplus will result from a transaction between the two when the seller is faced with the following sales tax rates: 0%, 2%, 4%, 6%, and 8%
A manager can use either way S or B to prepare packages of chiken nuggetes, The firms production is givin as Q= B+S. A- Graph the isoquant corresponding to 4 unites of output. B- What is the marginal product of capital and labor.
What is the cost function, marginal cost function, and average cost function for each plant? b) What is the efficient scale and minimum average cost for each plant? c) What is the cost function for the firm?
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