Question
(12 total points) Joe runs a farm. He rents the land for $250 a day, and he can hire workers for $20 per day for
(12 total points) Joe runs a farm. He rents the land for $250 a day, and he can hire workers for $20 per day for each worker. His short run production function is given in the first two columns of the following table.
Complete the table below by filling in ALL missing numbers. If your answer is a decimal rather than a whole number, round your answer to the nearest 2 decimal places. Also, do not enter leading zeroes.
For example, if the answer to a field is 1/8, enter .13
Do not enter .125or0.13or0.125
WorkersOutput AFCAVCATCMC
0 15
240
370
490
5105
6115
WorkersOutput MPTVCTFCTC
0
115
240
370
490
5105
6115
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Macroeconomics Principles Applications And Tools
Authors: Arthur O Sullivan, Steven M. Sheffrin, Stephen J. Perez
7th Edition
978-0134089034, 9780134062754, 134089030, 134062752, 978-0132555234
