Question

intranet Home. Hor G Google . Index : Mal cdthompson7。Boeng 737-800 Sale hmps./connectrnhe Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to questi 2 A firm's product sells for $4 per unit in a highly competitive market The firm produces output using capital (which it rents at $25 per hour) and labor (which is paid a wage of $30 per hour under a contract for 20 hours of labor services) Complete the following table and use that information to answer the questions that follow Enter your responses for Average Product of Capital (APk) and Average Product of Labor (AP) rounded to two decimal ints places. All other responses should be entered as whole numbers. If you are entering a negative number, use a negative sign () where appropriate Value Marginal Narginal Product Average Product of Average Product Product of Capital, MP of Capital, MPK Capital, APk of Labor, AP 20 5e 2e 20 (100) (200) se) 26 a Identify the fxed and variable Inputs K Prey 2 f 6 Next>

Answer 1

Average product of capital when there are 475 units and capital = 6= $79.17.

c. $150($25*6) and $175($25*7).