FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

NOV2022!E005123 QUESTION 4 Suppose your business is currently employing 750 workers, the only variable input, at a wage rate of $48. The average product of

image text in transcribed
NOV2022!E005123 QUESTION 4 Suppose your business is currently employing 750 workers, the only variable input, at a wage rate of $48. The average product of labor is 96, the last worker added 6 units to total output, and total xed cost is $12,000. a. What is marginal cost? (2 marks) b. What is average variable cost? (2 marks) 0. How much output is being produced? (3 marks) d. What is average total cost? (3 marks) (10 marks)

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_2

Step: 3

blur-text-image_3

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

Land Economics Research

Land Economics Research

Authors: Joseph Ackerman, Marion Clawson, Marshall Harris

1st Edition

1317340426, 9781317340423

More Books

Students also viewed these Economics questions

Question

★★★★★
Give a simple example of a page reference sequence where the first page selected for replacement will be different for the clock and LRU page replacement algorithms. Assume that a process is...

Answered: 1 week ago

Question

★★★★★
Do you agree that there is little difference between emerging markets and developing countries? Why or why not?

Answered: 1 week ago

Question

★★★★★
=+The outlier, once again, is John Carter, whose budget was more than $200M more than its gross revenue in the U.S. Setting this movie aside and rerunning the regression from Exercise 8, we find:

Answered: 1 week ago

Question

★★★★★
Game Depot manufactures video games that it sells for $45 each. The company uses a fixed manufacturing overhead allocation rate of $3 per game. Assume all costs and production levels are exactly as...

Answered: 1 week ago

Question

★★★★★
this problem, you will be given three errors that may or may not affect the trial ba As a result of each error, will the trial balance still balance? Consider each error you determine that the trial...

Answered: 1 week ago

Question

★★★★★
Assume the random variable X is normally distributed with mean p = 50 and standard deviation o = 7. Compute the probability. Be sure to draw a normal curve with the area corresponding to the...

Answered: 1 week ago

Question

★★★★★
Is there a common thread in the two situations of personal gain? What is different about the Gates scenario and those of the Birmingham officials?

Answered: 1 week ago

Question

★★★★★
Should You be Able to Sue McDonalds if You Spill Coffee on Yourself? If you talk about lawsuits today, some people will tell you that a lot of them are frivolous. There are a few famous cases that...

Answered: 1 week ago

Question

★★★★★
TLW Consulting has been concerned about declining profitability and the president has asked you to evaluate productivity over the past two years. After several weeks, you have managed to collect the...

Answered: 1 week ago

Question

★★★★★
Evaluate some of the theoretical frameworks that have been used to explain the HRM performance in organizations.

Answered: 1 week ago

Question

★★★★★
Create rewards structure for the sales and marketingdepartments for a company of your choosing. Attention should be placed on creating a strategy that not only builds continuity among the 2...

Answered: 1 week ago

Question

★★★★★
2. To store it and

Answered: 1 week ago

Question

★★★★★
3. Give three examples from your own everyday life where a piece of communi-cation is structured into a linear sequence, i.e. B is the cause of A.

Answered: 1 week ago

Question

★★★★★
2. What information is conveyed through a particular type of metaphor? The answer to the question gives us insight into what code the person using the metaphor uses, and thus an insight into how...

Answered: 1 week ago

Previous Question Next Question