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Need Ans fast plz Q-3: Let in the short run, an organization provides 20 units of fixed input like capital to each unit of variable

Need Ans fast plz

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Q-3: Let in the short run, an organization provides 20 units of fixed input like capital to each unit of variable input like labor in order to produce its output in a perfectly competitive market. The firm plans to sell its product at price Rs. 15/- per unit. The firm buys labor at wage Rs.600/- per unit and capital at interest Rs. 15/- per unit respectively. The production function used by the firm in order to produce its output is: (10) Q= K26127 K L QX PX TR AR MR MPL MRPL VMPL W TFC TVC TC MC T. M. PROFIT PROFIT 20 0 20 1 130 20 2 200 20 3 270 20 4 350 20 5 410 20 6 460 20 7 500 20 8 530 Using the above information, answer the following questions: (a) Using your concepts complete the above table. (b) Write a summary of the entire Table. (4) (1) (c) Find out level of returns for the firm. (1) (d) Define firm equilibrium condition in short run along with its formula. Use the above table to identify optimum units of variable input at this point. (1) (e) Identify maximum profit and relate it with marginal profit. (1) (1) Discuss relationship between production curves and cost curves in general. Also make graph to support your answer. (2) Note: Please upload your Completed Final Term Exam in "PDF" on the following link. https://docs.google.com/forms/d/c/IFAlpQLSfatgUYvmTdYzFVat 1 vondrQbSHX8HOyfSHdDy gMNNCgATY1A/viewform?usp-sf_link

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