Microeconomics, economics, Microeconomics

Assignment Help:
INFO:
Suppose that a firm is currently employing 20 workers,(the only variable input), at a wage rate of $60. The average product of labor is $30, the last worker added 12 units to total output, and total fixed cost is $3,600.

Quetions:
1. How much output is being produced?
2. What is the marginal cost?
3. What is the average variable cost?
4. What is the average total cost?
5. Is the average variable cost increasing, constant, or decreasing? Explain.
6. Is average total cost increasing, constant, or decreasing? Explain.

Related Discussions:- Microeconomics, economics

Explain how oligopolies can work, Explain how oligopolies can work both for...

Explain how oligopolies can work both for and against consumers. Oligopolies market power can of course work against consumers - as price-setting and any form of collusion will

Market structure, how do oligopolistic market and monopolistic competition ...

how do oligopolistic market and monopolistic competition react to change in demand and supply ?

Game theory, write down the assumotions and importance of game theory

write down the assumotions and importance of game theory

Combined ppc, How do I draw and interpret a combined ppc curve?

How do I draw and interpret a combined ppc curve?

Average cost curve, Why short run average cost curve is ‘U’ shaped

Why short run average cost curve is ‘U’ shaped

Chamberline approach, a more simple explanation of the group equilibrium in...

a more simple explanation of the group equilibrium in the short and long run

Explain about banking cycle, Q. Explain about Banking Cycle? An economi...

Q. Explain about Banking Cycle? An economic cycle that results from cyclical changes in the attitudes of banks toward lending risk. When economic times are good, bankers become

Labor markets and labor Union, 1. Nonwage Determinants of Labor Supply Supp...

1. Nonwage Determinants of Labor Supply Suppose that two jobs are exactly the same except that one is performed in an air-conditioned workplace. How could you measure the value wor

Macechj, according to Tobin 1993,examples of Keynesian unemployment include...

according to Tobin 1993,examples of Keynesian unemployment includes situation where

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd