Question
EXERCISE 1 (40 MARKS) Foranenterpriseeachworkergets$50perdayandtheconstant costofthis enterprise is $300. Find the Average Product (AP), Marginal Product (MP), Variable Cost (VC), Total Cost (TC) and Marginal
EXERCISE 1 (40 MARKS)
Foranenterpriseeachworkergets$50perdayandtheconstant costofthis enterprise is $300. Find the Average Product (AP), Marginal Product (MP), Variable Cost (VC), Total Cost (TC) and Marginal Cost (MC). Show all of your calculations.
| NUMBER OF LABOR | TOTAL PRODUCT |
| 0 | 0 |
| 1 | 3 |
| 2 | 6 |
| 3 | 8 |
| 4 | 10 |
| 5 | 11 |
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Energy, Foresight And Strategy
Authors: Thomas J Sargent
1st Edition
1317329686, 9781317329688
