Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hi, can you please help me on these, while explaining it Use the following data to answer the question. Inputs of Labor Total Product 10

Hi, can you please help me on these, while explaining it

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
Use the following data to answer the question. Inputs of Labor Total Product 10 22 36 EBOOK 48 58 56 53 When four units of labor are hired, the marginal product (MP) of the last worker is Multiple Choice O 10. O 12 O 192 O 24.2 The question is based on the following table. which provides information on the production of a product that requires one variable input. Input Total Product 20 32 eBook 42 50 55 58 58 56 With the addition of the third unit of input, the marginal product is Multiple Choice O 12 and the average product is 32. O 52 and the average product Is 10.67. O 12 and the average product Is 10.67. O 10.67 and the average product Is 12.The following is cost information forthe Creamy Crisp Donut Company. Entrepreneur's potential earnings as a salaried worker = $43,000 Annual lease on building = $20000 Annual revenue from operations = $280000 Payments to workers = $113.00!) Utilities (electricity. water. disposal: costs = $8.000 Value of entrepre neur's talent in the next best entrepreneurial activity = $80900 Entrepreneur's forgone interest on personal funds used to nance the business = $6.000 Creamy Crisp's total economic costs are Multiple Choice 0 3230000. 3146.000. $151000. 0 On Q

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Economics Of Inequality

Authors: Thomas Piketty, Arthur Goldhammer

1st Edition

0674504801, 9780674504806

More Books

Students also viewed these Economics questions