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Fill in the blanks in the tables below. (a) Determine the missing values of output, marginal...
QUESTION 11 At the current level of output, long-run marginal cost is $50 and long-run average cost is $75. This im...
QUESTION 11 At the current level of output, long-run marginal cost is $50 and long-run average cost is $75. This implies that: there are neither economies nor diseconomies of scale. there are economies of scale. there are diseconomies of scale. the cost-output elasticity is greater than one.
The short run marginal cost curve in the traditional microeconomic model of production eventually rises because...
The short run marginal cost curve in the traditional microeconomic model of production eventually rises because of a. diseconomies of scale. b. diminishing marginal revenues. c. rising fixed costs. d. increasing marginal productivity of variable inputs. e. diminishing marginal returns. . If the long-run average cost of production falls as the firm increases its level of output, then the firm exhibits a. constant returns to scale. b. constant marginal costs. c. economies of scale. d. diseconomies of scale. e. diminishing...
Can someone make a chart with the missing values filled in please? Fill in the gaps...
Can someone make a chart with the missing
values filled in please?
Fill in the gaps in the table below. (Enter your responses rounded to two decimal places.) Quantity of Variable Input Total Output Marginal Product of Variable Input Average Product of Variable Input 0 0 225 - 225 - 300 225 300 2 300 1,150 230 - 11.5 1,368.5 228.08
1. Toys Create Corp., produce puzzles and sell to consumers. A worker costs MYR 100 a day, and the firm has fixed costs of MYR 200. Workers Output Marginal Product Total Cost Average Total Cost Marginal Cost 0 0 --- --- --- 1 20
1. Toys Create Corp., produce puzzles and sell to consumers. A worker costs MYR 100 a day, and the firm has fixed costs of MYR 200. WorkersOutputMarginal ProductTotal CostAverage Total CostMarginal Cost00---------1202503904120514061507155a. Using the information above, calculate the marginal product, total cost, average total cost, and marginal cost. Identify the output level at minimum average total cost for Toys Create Corp. b. Construct the marginal-cost and average-total-cost curves for Toys Create Corp. Using your own words, explain diminishing marginal product and...
A worker costs $60 a day, and the firm has fixed costs of $120.
In the following table, complete the marginal product column Workers Output Marginal ProductTotal Cost M arginal Cost Average Total Cost OU AWN A worker costs $60 a day, and the firm has fixed costs of $120. Use this information to fill in the column for total cost in the previous table. Fill in the column for marginal cost in the previous table. Fill in the column for average total cost in the previous table. Which of the following statements are true about the patterns found...
Connect Problem CP 9-7 (algo) Fill in the blanks in the table below. The problem is...
Connect Problem CP 9-7 (algo) Fill in the blanks in the table below. The problem is a "puzzle" so the blanks are not necessarily filled in sequentially Instructions: Round your answers to the nearest whole number. Enter your answers without a comma (thousands separator) Average Product Marginal Product Labor Total Output 10 20 30 40 50 60 200 800 1,800 3,200 5,000 7,200 20 40 60 80 100 120 20 60 100 180
d. Fill in the blanks in the table below. (1.5 points) с МС ТУС TFC AVС...
d. Fill in the blanks in the table below. (1.5 points) с МС ТУС TFC AVС 0 100 1 150 2 178 3 198 4 212 5 230 6 250 7 272 8 310 355 10 410 11 475 e. Using the table in part d, plot the short-run marginal cost curve. Label each relevant data point on the curve. (1.5 points) . Suppose you are the manager of a watchmaking firm operating in a competitive market. Your cost of...
Fill in the blanks in the table below. The problem is a 'puzzle" so the blanks...
Fill in the blanks in the table below. The problem is a 'puzzle" so the blanks are not necessarily filled in sequentially Instructions: Round your answers to the nearest whole number. Enter your answers without a comma (thousands separator). pped Labor Total Output Average Product Marginal Product 0 Book 0 0 0 10 800 80 Print 20 3,200 80 240 broncos 30 240 400 40 12,800 50 • 320 400 720 60 28,800
22. Which of the following is true for a firm that enjoys economies of scale? a. Marginal cost is increasing as output i...
22. Which of the following is true for a firm that enjoys economies of scale? a. Marginal cost is increasing as output increases. b. Average total cost is falling as output increases. c. Marginal cost is constant as output increases. d. Marginal revenue is falling as output increases. 23. The figure below shows short-run average total cost curves for a firm under four different production technologies. Assume that there are only four different technologies that the firm could use. Refer...
blank 1-diminishing or increasing 2-decreasing or increasing 5. The relationship between marginal product and marginal cost...
blank 1-diminishing or increasing
2-decreasing or increasing
5. The relationship between marginal product and marginal cost Musashil's Big Burger is a small restaurant that sells hamburgers. For Musashi, grills are a fixed input and workers are variable inputs. Assume that labor is Musashi's only variable cost. Musashi has a fixed cost of $50 per day and pays each of his workers $50 per day. Musashi's total output schedule and total cost at each level of labor are presented in the...
QUESTION 11 At the current level of output, long-run marginal cost is $50 and long-run average cost is $75. This implies that: there are neither economies nor diseconomies of scale. there are economies of scale. there are diseconomies of scale. the cost-output elasticity is greater than one.
Can someone make a chart with the missing
values filled in please?
Fill in the gaps in the table below. (Enter your responses rounded to two decimal places.) Quantity of Variable Input Total Output Marginal Product of Variable Input Average Product of Variable Input 0 0 225 - 225 - 300 225 300 2 300 1,150 230 - 11.5 1,368.5 228.08
In the following table, complete the marginal product column Workers Output Marginal ProductTotal Cost M arginal Cost Average Total Cost OU AWN A worker costs $60 a day, and the firm has fixed costs of $120. Use this information to fill in the column for total cost in the previous table. Fill in the column for marginal cost in the previous table. Fill in the column for average total cost in the previous table. Which of the following statements are true about the patterns found...
Connect Problem CP 9-7 (algo) Fill in the blanks in the table below. The problem is a "puzzle" so the blanks are not necessarily filled in sequentially Instructions: Round your answers to the nearest whole number. Enter your answers without a comma (thousands separator) Average Product Marginal Product Labor Total Output 10 20 30 40 50 60 200 800 1,800 3,200 5,000 7,200 20 40 60 80 100 120 20 60 100 180
d. Fill in the blanks in the table below. (1.5 points) с МС ТУС TFC AVС 0 100 1 150 2 178 3 198 4 212 5 230 6 250 7 272 8 310 355 10 410 11 475 e. Using the table in part d, plot the short-run marginal cost curve. Label each relevant data point on the curve. (1.5 points) . Suppose you are the manager of a watchmaking firm operating in a competitive market. Your cost of...
Fill in the blanks in the table below. The problem is a 'puzzle" so the blanks are not necessarily filled in sequentially Instructions: Round your answers to the nearest whole number. Enter your answers without a comma (thousands separator). pped Labor Total Output Average Product Marginal Product 0 Book 0 0 0 10 800 80 Print 20 3,200 80 240 broncos 30 240 400 40 12,800 50 • 320 400 720 60 28,800
blank 1-diminishing or increasing
2-decreasing or increasing
5. The relationship between marginal product and marginal cost Musashil's Big Burger is a small restaurant that sells hamburgers. For Musashi, grills are a fixed input and workers are variable inputs. Assume that labor is Musashi's only variable cost. Musashi has a fixed cost of $50 per day and pays each of his workers $50 per day. Musashi's total output schedule and total cost at each level of labor are presented in the...
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