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Labor Total product (workers) (wands per day) The table above shows Randys Wands short-run production function. Randy hires
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Answer #1

I Labour ve FC TC AFC AVC AC Mc L ve FC TC AFC Ave Ac me TP | o 4oo yoo - - - - o II 120 00 520 400 120 500 120 10 2 240 400me = d (TC) dL NC = XL TC = vc+FG AFC = FC a mpa a CTP) de Ave sve Ас = таA.MPL of 3rd worker=20

B.200

C.120

D.Data not available.

E.2534

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