Access over 20 million homework & study documents

search

A firm uses only labor and capital to produce output The amount of

Content type
User Generated
Rating
Showing Page:
1/2
A firm uses only labor and capital to produce output. The
amount of capital is fixed whiles the amount of labor varies
with the level of output. Assuming all workers are paid the
same amount, complete the
table?laboroutput(Q)VCAVCATCMC1505.0022434011.2545
4566
Solution
LABOR OUTPUT VC AVC AFC
ATC TC MC
1 14 50 3.57
21.43 25 350 5
2
24 100 4.17 12.5 16.67
400 3.13
3 40 150 3.75 7.5
11.25 450 3.57
4 54 200 3.7
5.56 9.26 500 4.17
5
66 250 3.79 4.55
8.34 550 -

Sign up to view the full document!

lock_open Sign Up
Showing Page:
2/2

Sign up to view the full document!

lock_open Sign Up
Unformatted Attachment Preview
A firm uses only labor and capital to produce output. The amount of capital is fixed whiles the amount of labor varies with the level of output. Assuming all workers are paid the same amount, complete the table?laboroutput(Q)VCAVCATCMC1505.0022434011.2545 4566 Solution LABOR ATC OUTPUT TC 1 AVC AFC MC 14 21.43 VC 50 25 3.57 350 5 2 24 100 400 3 5.56 12.5 40 150 3.75 450 54 3.57 200 9.26 3.7 500 4.17 5 66 8.34 16.67 3.13 11.25 4 4.17 250 550 3.79 - 4.55 7.5 Name: Description: ...
Purchase document to see full attachment
User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Anonymous
Really helpful material, saved me a great deal of time.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Similar Documents