Microeconomics, economics, Microeconomics

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

Economics, #questionr

#questionr

Theory of consumer behaviour, What the definition of microeconomic

What the definition of microeconomic

#define output, # define output#

# define output#

Indifference curve, explain the properties of indifference curve with the h...

explain the properties of indifference curve with the help of diagrams?

#title.micro, what are jobs of the department of justice and the federal tr...

what are jobs of the department of justice and the federal trade commission in business pratices.

Elasticity of demand, the price of a laptop increases by 20% and there is a...

the price of a laptop increases by 20% and there is a 40% drop in the quantity demanded

Tariffs, effect of tariffs on national income and employment

effect of tariffs on national income and employment

Oxidation, what is oxidizing agent

what is oxidizing agent

Rational producer, would a rational producer be concerned with the average ...

would a rational producer be concerned with the average or marginal product of an input in deciding whether or not to hire the inputs?

Demand elastic- inelastic or unit elastic, Questions (i) You are an i...

Questions (i) You are an industry analyst. Last year, the production cost of Microprocessor increased remarkably due to labor unionization. Nevertheless, the industry experie

Write Your Message!

Name

Email id

Message

Verfication Code

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!

Submit Assignment

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