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

Quality of employment , QUALITY OF EMPLOYMENT : Productivity of Emplo...

QUALITY OF EMPLOYMENT : Productivity of Employment  In a poor country like India being employed does not by itself necessarily ensure a decent level of living. In 1999-2000 th

International economics question 1, Steel and aluminum production Steel Can...

Steel and aluminum production Steel Canada 500, France 1200 Aluminum Canada 1500, France 800 The maximum amount of steel or aluminum that Canada and France can produce if they full

Is there any relation between inflation and unemployment, Is there any rela...

Is there any relation between inflation and unemployment?  The Phillips Curve was a relationship among unemployment and inflation discovered by Professor A.W. Phillips. He foun

Benefits of education, Benefits of Education The returns a person/soci...

Benefits of Education The returns a person/society (state/government) gets from acquiring education is referred to as benefits from education. If such returns are paid/receive

What is the concept of the development, What is the concept of the developm...

What is the concept of the development? The concept of the development: Development is a complicated multi-dimensional concept to do along with enhancements in the human

Profits, explain abnormal profits and normal profits

explain abnormal profits and normal profits

Define structural isomers and its types, Define structural isomers and its ...

Define structural isomers and its types Coordination compounds that having same compositions but the different bonding attachments. Types of structural isomers Hydration isomers

Explain how a city council might help to decrease traffic, Use a supply and...

Use a supply and demand diagram to help explain how a city council might help to decrease traffic congestion in the city during weekends. pointing out that demand happens d

Should the Government Provide National Health Insurance, What is meant by t...

What is meant by the multifaceted nature of the U.S. health care system? How is health care financed in the U.S.? What is the advantage and disadvantage of the U.S. multi-payer sys

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