Homework Answers
| Workers | Output | Total cost |
| 0 | 0 | 0 |
| 1 | 5 | 5 |
| 2 | 11 | 10 |
| 3 | 15 | 15 |
| 4 | 18 | 20 |
| 5 | 19 | 25 |
18 units per hour is 20
option(A)
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Number of Workers Total Output per Hour o U 66 Using the table above, please assume...
Question 10 (4 points) The following table shows the total output, number of workers employed, variable...
Question 10 (4 points) The following table shows the total output, number of workers employed, variable costs, and fixed costs of a firm Number of Workers 0 1 2 3 Total Output (units) 0 25 Variable Costs () 0 10 Fixed Costs (5) 150 150 150 SS 86 110 150 5 130 6 145 7 155 160 Suppose the only variable input that the firm uses is labor. What is the wage paid to a worker in the firm? O...
Table 13-1 Number of Workers Total Output Marginal Product 140 6. Refer to Table 13-1. What is total output when 2...
Table 13-1 Number of Workers Total Output Marginal Product 140 6. Refer to Table 13-1. What is total output when 2 workers are hired? a. 15 b. 45 c. 75 d. 120 et de 7. Refer to Figure 13-2. If the figure represented production at a cookie factory, the factory would be experiencing a. diminishing marginal product of workers b. diminishing marginal cost of cookie production c. decreasing cost of cookie production d. decreasing output of cookies. Wose Jan started...
Total Product Labor Units (number of workers) (Units produced per hour) 400 900 1,500 1,900 2,200...
Total Product Labor Units (number of workers) (Units produced per hour) 400 900 1,500 1,900 2,200 2,400 2,300 Refer to the above Table: Diminishing marginal product of labor sets in when the worker is employed
Question 1 1 pts Labor Total product Marginal (workers per day) (units per day) product 2...
Question 1 1 pts Labor Total product Marginal (workers per day) (units per day) product 2 8 12 3 5 In the above table, the marginal product of the second worker is 3 5 Oo oo Question 2 1 pts Labor Total product |(workers per day) (units per day) 0 0 2 Marginal product 0 2 8 3 12 T In the above table, the total product that can be produced with four workers is O 16 Ο Ο Ο...
Question: A firm currently employs 40 production workers and 5 supervisors. The marginal product of the...
Question: A firm currently employs 40 production workers and 5 supervisors. The marginal product of the last production worker employed is 60 units of output per hour and production workers are paid $8 per hour. The marginal product of the last supervisor employed is 120 units of output per hour and supervisors are paid $20 per hour. Every employee works 40 hours per week. a) What is the firm's total labor cost per week? b) Assume that the firm's isoquants...
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...
(Table: Workers and Output) Use Table: Workers and Output. After graduation, you achieve your dream of...
(Table: Workers and Output) Use
Table: Workers and Output. After graduation, you achieve your dream
of opening an art shop that specializes in selling mud statues. You
pay $10 per day on a loan from your uncle, regardless of how much
you produce. You also pay $10 per day to each of the workers who
you hire to make the mud statues. The total cost of producing 48
statues is:
Table: Workers and Output No. of Workers Output 10 1...
Suppose a certain firm is able to produce 160 units of output per day when 15...
Suppose a certain firm is able to produce 160 units of output per day when 15 workers are hired. The firm is able to produce 176 units of output per day when 16 workers are hired (holding other inputs fixed). What is the marginal product of the 16th worker? Select one: a. 10 units of output b. 176 units of output c. 11 units of output d. 16 units of output
Canvas → XCO The following table shows the total output, number of workers employed, variable costs,...
Canvas → XCO The following table shows the total output, number of workers employed, variable costs, and fixed costs Number of Workers Total Output (units) Variable Costs ($) Fixed Costs ($) 25 150 150 150 150 an WN 130 145 150 150 150 150 150 155 160 Refer to the table above. What is the average fixed cost of producing 110 units of the good? $150 $1.72 $37.50 $1.36 • Previous
SECTION# NAME PRINT LAST NAME, FIRST NAME Suppose 9 workers can repair 36 television sets per day. If a tenth worker i...
SECTION# NAME PRINT LAST NAME, FIRST NAME Suppose 9 workers can repair 36 television sets per day. If a tenth worker is hired and the each worker repairs, on average, 4 T.V. sets per day when nine workers are hired average product must be rising because the marginal product of the tenth worker 6. total number of repaired T.V. sets increases to 39, then: a. the marginal product of the tenth worker is 3.9 T.V, sets b. is greater than...
Question 10 (4 points) The following table shows the total output, number of workers employed, variable costs, and fixed costs of a firm Number of Workers 0 1 2 3 Total Output (units) 0 25 Variable Costs () 0 10 Fixed Costs (5) 150 150 150 SS 86 110 150 5 130 6 145 7 155 160 Suppose the only variable input that the firm uses is labor. What is the wage paid to a worker in the firm? O...
Table 13-1 Number of Workers Total Output Marginal Product 140 6. Refer to Table 13-1. What is total output when 2 workers are hired? a. 15 b. 45 c. 75 d. 120 et de 7. Refer to Figure 13-2. If the figure represented production at a cookie factory, the factory would be experiencing a. diminishing marginal product of workers b. diminishing marginal cost of cookie production c. decreasing cost of cookie production d. decreasing output of cookies. Wose Jan started...
Total Product Labor Units (number of workers) (Units produced per hour) 400 900 1,500 1,900 2,200 2,400 2,300 Refer to the above Table: Diminishing marginal product of labor sets in when the worker is employed
Question 1 1 pts Labor Total product Marginal (workers per day) (units per day) product 2 8 12 3 5 In the above table, the marginal product of the second worker is 3 5 Oo oo Question 2 1 pts Labor Total product |(workers per day) (units per day) 0 0 2 Marginal product 0 2 8 3 12 T In the above table, the total product that can be produced with four workers is O 16 Ο Ο Ο...
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...
(Table: Workers and Output) Use
Table: Workers and Output. After graduation, you achieve your dream
of opening an art shop that specializes in selling mud statues. You
pay $10 per day on a loan from your uncle, regardless of how much
you produce. You also pay $10 per day to each of the workers who
you hire to make the mud statues. The total cost of producing 48
statues is:
Table: Workers and Output No. of Workers Output 10 1...
Suppose a certain firm is able to produce 160 units of output per day when 15 workers are hired. The firm is able to produce 176 units of output per day when 16 workers are hired (holding other inputs fixed). What is the marginal product of the 16th worker? Select one: a. 10 units of output b. 176 units of output c. 11 units of output d. 16 units of output
Canvas → XCO The following table shows the total output, number of workers employed, variable costs, and fixed costs Number of Workers Total Output (units) Variable Costs ($) Fixed Costs ($) 25 150 150 150 150 an WN 130 145 150 150 150 150 150 155 160 Refer to the table above. What is the average fixed cost of producing 110 units of the good? $150 $1.72 $37.50 $1.36 • Previous
SECTION# NAME PRINT LAST NAME, FIRST NAME Suppose 9 workers can repair 36 television sets per day. If a tenth worker is hired and the each worker repairs, on average, 4 T.V. sets per day when nine workers are hired average product must be rising because the marginal product of the tenth worker 6. total number of repaired T.V. sets increases to 39, then: a. the marginal product of the tenth worker is 3.9 T.V, sets b. is greater than...
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