{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-12T06:25:51-04:00", "answer_date": "2024-06-12 06:25:51", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "2769924", "url": "\/study-help\/questions\/you-have-a-side-business-where-you-knit-scarves-a-2769924", "question_creation_date_js": "2024-06-12T06:25:51-04:00", "question_creation_date": "Jun 12, 2024 06:25 AM", "meta_title": "[Solved] You have a side business where you knit s | SolutionInn", "meta_description": "Answer of - You have a side business where you knit scarves. A scarf requires labor and wool. Each scarf uses $2 in wool, and each | SolutionInn", "meta_keywords": "side,business,knit,scarves,scarf,requires,labor,wool,$2,hour,sacrificing,$20", "question_title_h1": "You have a side business where you knit scarves. A scarf requires labor and wool. Each scarf uses $2 in wool, and each hour you", "question_title": "You have a side business where you knit scarves. A scarf requires", "question_title_for_js_snippet": "You have a side business where you knit scarves A scarf requires labor and wool Each scarf uses $2 in wool, and each hour you knit, you are sacrificing $20 per hour that you could have earned at your main job a If you can knit 4 scarves in an hour, what is the marginal cost of producing a scarf (5 points) b What if you can knit 5 scarves in an hour (5 points) c Using this scenario, explain the relationship between marginal product of input and marginal cost of output (5 points)", "question_description": "

You have a side business where you knit scarves. A scarf requires labor and wool. Each scarf uses $2 in wool, and each hour you knit, you are sacrificing $20 per hour that you could have earned at your main job. a. If you can knit 4 scarves in an hour, what is the marginal cost of producing a scarf? (5 points) b. What if you can knit 5 scarves in an hour? (5 points) c. Using this scenario, explain the relationship between marginal product of input and marginal cost of output. (5 points)<\/p>", "transcribed_text": "", "related_book": { "title": "Entrepreneurship", "isbn": "1119563097, 9781119563099", "edition": "5th Edition", "authors": "Andrew Zacharakis, William D Bygrave", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/2021\/11\/6192073f58970_0626192073ecba87.jpg", "uri": "\/textbooks\/entrepreneurship-5th-edition-9781119563099", "see_more_uri": "\/textbooks\/business-public-finance-3304" }, "free_related_book": { "isbn": "1939888743", "uri": "\/textbooks\/joshua-jace-minimum-wage-henchman-1st-edition-978-1939888747-358874", "name": "Joshua Jace Minimum Wage Henchman", "edition": "1st Edition" }, "question_posted": "2024-06-12 06:25:51", "see_more_questions_link": "\/study-help\/questions\/business-finance-2024-September-21", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/calcium-crystallizes-with-a-bodycentered-cubic-structure-a-how-many-ca", "description": "Calcium crystallizes with a body-centered cubic structure. 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