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Suppose that a firm is currently employing 20 workers, the only variable input, at a wage rate of $60. The average product of l...Asked by eStone
Suppose that a firm is currently employing 30 workers, the only variable input, at a wage rate of $60. The average product of labor is 30, the last worker added 12 units to total output, and total fixed cost is: $3,600.
a. What is marginal cost?
b. What is average variable cost?
c. How much output is being produced?
d. What is average total cost?
e. Is average variable cost increasing, decreasing or constant? What about average total cost>
a. What is marginal cost?
b. What is average variable cost?
c. How much output is being produced?
d. What is average total cost?
e. Is average variable cost increasing, decreasing or constant? What about average total cost>
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Answered by
economyst
Do a little research and then take a shot. What do you think?
Hint. All of these questions need simple algebra.
Repost, and I or others will check your answers.
Hint. All of these questions need simple algebra.
Repost, and I or others will check your answers.
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