Directions . Open the Excel file "Productivity.xlsx" Type your initials in cell A1 and hit the RETURN key . Highlight cells D6:015 Use Edit>Copy to copy them, then Use Edit>Paste Special>Values to paste the numbers back in the same place . Choose a wage rate of either $8 or $9 by flipping a coin. Enter that value in C19 and save the file. YOUR ANSWERS TO EVERY QUESTION WILL DEPEND ON THE OUTPUT (Q) NUMBERS YOU HAVE JUST SAVED. When you have completed the assignment, take pictures of all diagrams and handwritten material and upload them in PDF or JPG format. Upload any typed material in DOCX or XLSX format. 1. Use the data you have just prepared to calculate and plot AVC, ATC and MC. You may use either graph paper (preferred) or Excel. 2. Identify the smallest quantity supplied and price per unit on the firm's supply curve. Identify the quantity supplied and price per unit when the firm is breaking even. Referring to your diagram, write a paragraph (75-100 words) explaining what drives the firm's short-run production decision. 3. Assuming that the firm is operating in long-run equilibrium, how would they respond to a shift of market demand that drove equilibrium price up by 20c? Referring to your diagram, write two paragraphs (each 75-100 words), explaining a) their short-run production decision and b) their long-run choice to build a copy of their existing plant (or not). 4. How would long-run behavior be affected if the increase in output demand forced the wage rate up 50? Numeric answer and explanation required. Q5 X fx B D E 1 SJ 2. 3 3 1 o o 0 6 1 39 2 87 00 127 4 5 163 10 193 ter 219 10 11 12 13 O NO 238 251 9 259 10 264 15 16 WAGE $8 FIXED COST $100 - 22 24 23 24 31 32 33 34 Word File Edit 100% Sun 10:19 PM Q OOO AutoSave OFF View Insert Format Tools Table Window Help Productivity (1) Page Layout Formulas Data Review View Tell me . AutoSave OFF Unit 2 Test - Saved to my Mac References >> Tell me Home Insert Draw Shai Home Insert Draw Design Layout Share Cor X A. % X V Carditional Formatting Formats Table Call Styles Paste Font Alignment Number Ceils Editing Se Analyze Dals Paste Calilori (Bo. v 12 v A A Aa A B T U + 4 x x ADA Paragraph Styles Dictate and links the profit-maximizing behavior of the typical firm to the behavior of market supply. Sensitivity Open recovered workbooks? Your recent changes were saved. Do you want to continue working where you left aft? OS Directions A B C D D E F G H H 1 K Open the Excel file "Productivity dax" Type your initials in cell A1 and hit the RETURN key 1 si 2 3 4 S 6 7 L D 1 2 3 Highlight cells D6:D15 Use Edit>Copy to copy them, then Use Edit >Paste Special>Values to paste the numbers back in the same place Q 0 39 87 127 163 193 219 20 251 250 264 Choose a wage rate of either $3 or $9 by flipping a coin. Enter that value in C19 and save the file. YOUR ANSWERS TO EVERY QUESTION WILL DEPEND ON THE OUTPUTIQ) NUMBERS YOU HAVE JUST SAVED. 8 9 9 10 11 12 13 14 15 16 17 18 19 S 6 7 . When you have comaleted the assignment, take pictures of all diagrams and handwritten material and upload them in PDF or JPG format Upload any typed material in DOCX or XLSX format. 9 10 1. Use the data you have just prepared to calculate and plot AVC, ATC and MC. You may use either graph paper (preferred) ar Excel WAGE $8 FIXED COST $100 20 21 22 23 2. Identify the smallest quantity supplied and price per unit on the firm's supply curve Identify the quantity supplied and price per unit when the firm is breaking even. Referring to your diagram, write a paragraph 175-100 wards explaining what drives the firm's short-run production decision. 3. Assuming that the firm is operating in long-run equilibrium, how would they respond to a shift of market demand that drove equilibrium price up by 2007 Referring to your diagram, write two paragraphs (cach 75 100 words, explaining as their short run production decision and b their long-run choice to build a copy of their existing plant for not. 24 25 26 27 28 29 30 4. How would long run behavior be affected if the increase in output demand forced the wage rate up SOC? Numeric answer and explanation required. 31 32 33 35 Sheet1 + Ready CD IT Page 1 of 1 296 wards KlFocus ER 28 A w P Directions . Open the Excel file "Productivity.xlsx" Type your initials in cell A1 and hit the RETURN key . Highlight cells D6:015 Use Edit>Copy to copy them, then Use Edit>Paste Special>Values to paste the numbers back in the same place . Choose a wage rate of either $8 or $9 by flipping a coin. Enter that value in C19 and save the file. YOUR ANSWERS TO EVERY QUESTION WILL DEPEND ON THE OUTPUT (Q) NUMBERS YOU HAVE JUST SAVED. When you have completed the assignment, take pictures of all diagrams and handwritten material and upload them in PDF or JPG format. Upload any typed material in DOCX or XLSX format. 1. Use the data you have just prepared to calculate and plot AVC, ATC and MC. You may use either graph paper (preferred) or Excel. 2. Identify the smallest quantity supplied and price per unit on the firm's supply curve. Identify the quantity supplied and price per unit when the firm is breaking even. Referring to your diagram, write a paragraph (75-100 words) explaining what drives the firm's short-run production decision. 3. Assuming that the firm is operating in long-run equilibrium, how would they respond to a shift of market demand that drove equilibrium price up by 20c? Referring to your diagram, write two paragraphs (each 75-100 words), explaining a) their short-run production decision and b) their long-run choice to build a copy of their existing plant (or not). 4. How would long-run behavior be affected if the increase in output demand forced the wage rate up 50? Numeric answer and explanation required. Q5 X fx B D E 1 SJ 2. 3 3 1 o o 0 6 1 39 2 87 00 127 4 5 163 10 193 ter 219 10 11 12 13 O NO 238 251 9 259 10 264 15 16 WAGE $8 FIXED COST $100 - 22 24 23 24 31 32 33 34 Word File Edit 100% Sun 10:19 PM Q OOO AutoSave OFF View Insert Format Tools Table Window Help Productivity (1) Page Layout Formulas Data Review View Tell me . AutoSave OFF Unit 2 Test - Saved to my Mac References >> Tell me Home Insert Draw Shai Home Insert Draw Design Layout Share Cor X A. % X V Carditional Formatting Formats Table Call Styles Paste Font Alignment Number Ceils Editing Se Analyze Dals Paste Calilori (Bo. v 12 v A A Aa A B T U + 4 x x ADA Paragraph Styles Dictate and links the profit-maximizing behavior of the typical firm to the behavior of market supply. Sensitivity Open recovered workbooks? Your recent changes were saved. Do you want to continue working where you left aft? OS Directions A B C D D E F G H H 1 K Open the Excel file "Productivity dax" Type your initials in cell A1 and hit the RETURN key 1 si 2 3 4 S 6 7 L D 1 2 3 Highlight cells D6:D15 Use Edit>Copy to copy them, then Use Edit >Paste Special>Values to paste the numbers back in the same place Q 0 39 87 127 163 193 219 20 251 250 264 Choose a wage rate of either $3 or $9 by flipping a coin. Enter that value in C19 and save the file. YOUR ANSWERS TO EVERY QUESTION WILL DEPEND ON THE OUTPUTIQ) NUMBERS YOU HAVE JUST SAVED. 8 9 9 10 11 12 13 14 15 16 17 18 19 S 6 7 . When you have comaleted the assignment, take pictures of all diagrams and handwritten material and upload them in PDF or JPG format Upload any typed material in DOCX or XLSX format. 9 10 1. Use the data you have just prepared to calculate and plot AVC, ATC and MC. You may use either graph paper (preferred) ar Excel WAGE $8 FIXED COST $100 20 21 22 23 2. Identify the smallest quantity supplied and price per unit on the firm's supply curve Identify the quantity supplied and price per unit when the firm is breaking even. Referring to your diagram, write a paragraph 175-100 wards explaining what drives the firm's short-run production decision. 3. Assuming that the firm is operating in long-run equilibrium, how would they respond to a shift of market demand that drove equilibrium price up by 2007 Referring to your diagram, write two paragraphs (cach 75 100 words, explaining as their short run production decision and b their long-run choice to build a copy of their existing plant for not. 24 25 26 27 28 29 30 4. How would long run behavior be affected if the increase in output demand forced the wage rate up SOC? Numeric answer and explanation required. 31 32 33 35 Sheet1 + Ready CD IT Page 1 of 1 296 wards KlFocus ER 28 A w P