Use the table below to answer questions about a firm’s hiring
decision.
| Labor (workers) | Output (units) | Total Cost ($) |
| 0 | 0 | $50 |
| 1 | 15 | $60 |
| 2 | 27 | $70 |
| 3 | 37 | $80 |
| 4 | 45 | $90 |
| 5 | 50 | $100 |
What is the total cost when the marginal product of labor is
5?
Choose one:A. $60 B.
$20C. $10D. $90 E.
$80 F. $50G. $30H.
$40I. $70 J.
$100
What is the total variable cost when the marginal product of labor
is equal to 8?
Choose one:A. $60 B. $50
C. $10D. $40 E.
$70
Homework Answers
A) MP of labor is 5 at L = 5 workers
so, total cost =100
option(J)
2) TVC when MPL = 8 would be at L=4 workers
= TC-FC
= 90-50
= 40
Option(D)
Add Answer to:
Use the table below to answer questions about a firm’s hiring
decision.
Labor (workers)
Output...
6. Deriving the short-run supply curve Consider the competitive market for halogen lamps. The following graph...
6. Deriving the short-run supply curve Consider the competitive market for halogen lamps. The following graph shows the marginal cost (MC), average total cost (ATC), and average variable cost (AVC) curves for a typical firm in the industry. COSTS (Dollars) DAVC МСП 0 10 90 100 20 30 40 50 60 70 80 QUANTITY (Thousands of lamps) We were unable to transcribe this imageWe were unable to transcribe this imageWe were unable to transcribe this image
2. Working with Numbers and Graphs Q2 The following graph illustrates the demand (D) curve of...
2. Working with Numbers and Graphs Q2 The following graph illustrates the demand (D) curve of an industry as well as the marginal cost (MC) and average total cost (ATC) curves of the only firm in this industry. Refer to the graph to answer the questions that follow. PRICE (Dollars) 70 80 90 100 0 10 20 30 40 50 60 QUANTITY (Units) A We were unable to transcribe this image
Deduce the structure based on the information below: Here's the zoom-in of the H NMR: Here's...
Deduce the structure based on the information below:
Here's the zoom-in of the H NMR:
Here's the zoom-in of the coupling pattern:
C NMR:
Concepts: organic spectroscopy, organic chemistry
We were unable to transcribe this imageWe were unable to transcribe this imageWe were unable to transcribe this image220 210 200 190 .180170160 150 140 130 120 110 100 90 80 70 60 50 40 30 20 10 0 Рpm
PLEASE READ CAREFULLY AND ANSWERS MUST BE CLEAR TO READ! FOR THE ORANGE POINTS PLEASE LIST...
PLEASE READ CAREFULLY AND ANSWERS MUST BE CLEAR TO READ!
FOR THE ORANGE POINTS PLEASE LIST ALL THE POINTS!
THANKS!!
We were unable to transcribe this imageAndrew's daily production schedule is presented in the following table. Fill in the blanks to complete the Marginal Product of Labor column for each worker. Output Marginal Product of Labor Number of Workers (Pizzas) (Pizzas) 60 100 130 60 40 30 120 10 2 4 160 We were unable to transcribe this imageSuppose that...
Brief Exercise 23-5 Mordica Company’s standard labor cost per unit of output is $20.14 (1.90 hours...
Brief Exercise 23-5
Mordica Company’s standard labor cost per unit of output is
$20.14 (1.90 hours x $10.60 per hour). During August, the company
incurs 2,581 hours of direct labor at an hourly cost of $10.71 per
hour in making 1,300 units of finished product.
Compute the total, price, and quantity labor variances.
(Round answers to 2 decimal places, e.g.
52.75.)
Total labor variance
$
FavorableNeither favorable nor unfavorableUnfavorable
Labor price variance
$
UnfavorableNeither favorable nor unfavorableFavorable
Labor quantity variance...
PLEASE READ CAREFULLY AND ANSWER ALL THE QUESTIONS! SHOW ALL YOUR CALCULATIONS CLEARLY! ANSWERS MUST BE...
PLEASE READ CAREFULLY AND ANSWER ALL THE QUESTIONS! SHOW ALL
YOUR CALCULATIONS CLEARLY! ANSWERS MUST BE CLEAR TO READ!
THANKS!
We were unable to transcribe this imageFill in the blanks to complete the Marginal Product of Labor column for each worker. Output Marginal Product of Labor Number of Workers (Pizzas) (Pizzas) 50 り() 120 140 50 40 30 20 10 2 4 5 150 On the following graph, plot Hubert's production function using the green points (triangle symbol). Note: Plot...
Table B Number of Workers 0 1 2 Output Fixed Cost O $50 90 $50 170...
Table B Number of Workers 0 1 2 Output Fixed Cost O $50 90 $50 170 $50 230 $50 240 $50 Variable Cost $0 $20 $40 $60 $80 Total Cost $50 $70 $90 $110 $130 Refer to Table B. At which number of workers does diminishing marginal product begin? 1 O2 03 04
#3 3. The isoquant map for a firm that produces output with labor and capital is shown on the next page. The price...
#3
3. The isoquant map for a firm that produces output with labor and capital is shown on the next page. The price of labor is $20 per unit and the price of capital is $60 per unit. a) Draw the isocost lines for expenditures of TC =$300 and TC -$360. b) How many units of labor and how many units of capital should the firm hire to minimize the cost of producing Q. units of output? EXPLAIN. c) What...
Use the following table and information to answer question # 1. Each worker works a shout...
Use the following table and information to answer question # 1. Each worker works a shout shift with a wage of S 12.00 per hour. Each widget made has a cost of $4 (excluding the labor cost) and the sales price of each widget is S18. Total # of Widgets Marginal Total Cost Total Revenue Net Revenue Product # of workers Output 27 42 51 27-11-16 42-27-15 51-42-9 We were unable to transcribe this image
Cost schedule Total variable Total cost Labor Output (units per day) cost (dollars) (workers) (dollars) 0...
Cost schedule Total variable Total cost Labor Output (units per day) cost (dollars) (workers) (dollars) 0 30 1 3 20 50 2 40 70 3 12 60 90 4 14 80 110 5 15 100 130 In the above table, the total fixed cost is O $20 O $30. O $0. O $50. Question 13 1 pts In the above table, when output increases from 12 to 14 units, the marginal cost of one of those 2 units is O...
6. Deriving the short-run supply curve Consider the competitive market for halogen lamps. The following graph shows the marginal cost (MC), average total cost (ATC), and average variable cost (AVC) curves for a typical firm in the industry. COSTS (Dollars) DAVC МСП 0 10 90 100 20 30 40 50 60 70 80 QUANTITY (Thousands of lamps) We were unable to transcribe this imageWe were unable to transcribe this imageWe were unable to transcribe this image
2. Working with Numbers and Graphs Q2 The following graph illustrates the demand (D) curve of an industry as well as the marginal cost (MC) and average total cost (ATC) curves of the only firm in this industry. Refer to the graph to answer the questions that follow. PRICE (Dollars) 70 80 90 100 0 10 20 30 40 50 60 QUANTITY (Units) A We were unable to transcribe this image
Deduce the structure based on the information below:
Here's the zoom-in of the H NMR:
Here's the zoom-in of the coupling pattern:
C NMR:
Concepts: organic spectroscopy, organic chemistry
We were unable to transcribe this imageWe were unable to transcribe this imageWe were unable to transcribe this image220 210 200 190 .180170160 150 140 130 120 110 100 90 80 70 60 50 40 30 20 10 0 Рpm
PLEASE READ CAREFULLY AND ANSWERS MUST BE CLEAR TO READ!
FOR THE ORANGE POINTS PLEASE LIST ALL THE POINTS!
THANKS!!
We were unable to transcribe this imageAndrew's daily production schedule is presented in the following table. Fill in the blanks to complete the Marginal Product of Labor column for each worker. Output Marginal Product of Labor Number of Workers (Pizzas) (Pizzas) 60 100 130 60 40 30 120 10 2 4 160 We were unable to transcribe this imageSuppose that...
Brief Exercise 23-5
Mordica Company’s standard labor cost per unit of output is
$20.14 (1.90 hours x $10.60 per hour). During August, the company
incurs 2,581 hours of direct labor at an hourly cost of $10.71 per
hour in making 1,300 units of finished product.
Compute the total, price, and quantity labor variances.
(Round answers to 2 decimal places, e.g.
52.75.)
Total labor variance
$
FavorableNeither favorable nor unfavorableUnfavorable
Labor price variance
$
UnfavorableNeither favorable nor unfavorableFavorable
Labor quantity variance...
PLEASE READ CAREFULLY AND ANSWER ALL THE QUESTIONS! SHOW ALL
YOUR CALCULATIONS CLEARLY! ANSWERS MUST BE CLEAR TO READ!
THANKS!
We were unable to transcribe this imageFill in the blanks to complete the Marginal Product of Labor column for each worker. Output Marginal Product of Labor Number of Workers (Pizzas) (Pizzas) 50 り() 120 140 50 40 30 20 10 2 4 5 150 On the following graph, plot Hubert's production function using the green points (triangle symbol). Note: Plot...
Table B Number of Workers 0 1 2 Output Fixed Cost O $50 90 $50 170 $50 230 $50 240 $50 Variable Cost $0 $20 $40 $60 $80 Total Cost $50 $70 $90 $110 $130 Refer to Table B. At which number of workers does diminishing marginal product begin? 1 O2 03 04
#3
3. The isoquant map for a firm that produces output with labor and capital is shown on the next page. The price of labor is $20 per unit and the price of capital is $60 per unit. a) Draw the isocost lines for expenditures of TC =$300 and TC -$360. b) How many units of labor and how many units of capital should the firm hire to minimize the cost of producing Q. units of output? EXPLAIN. c) What...
Use the following table and information to answer question # 1. Each worker works a shout shift with a wage of S 12.00 per hour. Each widget made has a cost of $4 (excluding the labor cost) and the sales price of each widget is S18. Total # of Widgets Marginal Total Cost Total Revenue Net Revenue Product # of workers Output 27 42 51 27-11-16 42-27-15 51-42-9 We were unable to transcribe this image
Cost schedule Total variable Total cost Labor Output (units per day) cost (dollars) (workers) (dollars) 0 30 1 3 20 50 2 40 70 3 12 60 90 4 14 80 110 5 15 100 130 In the above table, the total fixed cost is O $20 O $30. O $0. O $50. Question 13 1 pts In the above table, when output increases from 12 to 14 units, the marginal cost of one of those 2 units is O...
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