Option 5 is the correct answer
total, average and marginal product curves respectively.
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#1 Product #2 Variable input #3 In this diagram, curves 1, 2, and 3 represent the:...
(1) $ per unit of output (2) (3) Quantity In this diagram, curves 1, 2, and 3 represent the: average variable cost, average cost, and marginal cost Total cost, total fixed cost and total marginal cost marginal cost, average cost, and average variable cost total marginal cost, total cost, and total variable cost Marginal revenue may be defined as the: change in product price associated with the sale of one more unit of output change in average revenue associated with...
Consider the following cost curves. (1) $ per unit of output (2) (3) Quantity In this diagram, curves 1, 2, and 3 represent the: 0 average variable cost, average cost, and marginal cost Total cost, total fixed cost and total marginal cost marginal cost, average cost, and average variable cost total marginal cost, total cost, and total variable cost
he following graph shows the marginal and average product curves for labor, the firm's only variable input. The monthly wage for laboris $2,000. Fixed cost is $120,00 pedictofon When the firm uses 100 units of labor, what is marginal cost at this level of output? O $25 O 533 33 $90 O $180 O $2000 References 1-ntre 2 exposure Starter Pack
10.a) Complete the following table: Quantity Of Variable Total Input Output Marginal Product of Variable Input Average Product of Variable Input 30 90 b) Draw the marginal product of variable input and comment on its shape.
Marginal Cost (dollars) Marginal Physical Total Total Product of Variable Fixed Variable Input Fixed Input Input Variable Cost Cost Output (units) (units) (units) (units) (dollars) (dollars) $500 $0 $500 $200 $500 $400 $500 $600 $500 $800 $500 $1000 Refer to Exhibit 21-3. The average variable cost of producing 45 units of output is a. S2.44 (E) b. S1.60. c. $2.00. d. S1.33. e. $13.33.
Total product divided by the number of units of variable input employed equals: a. average product. b. marginal revenue product. c. returns to scale. d. marginal product.
Question 41 Identify the range of diminishing marginal returns on the graph. Marginal Product Marginal and Average Product Average Product Margin - Q1 Q2 Units of Labor 0Q3. O Q1Q2. O 0Q2. O Q1Q3 Question 42 Use the output data below to answer the question. Assume that all non-labor resources are fixed. Based on the data, diminishing marginal returns start with the hiring of the: Number of Workers Units of Output 0 30 70 120 160 180 190 fourth worker....
SA 10.00 points average product crves for labor, the firm's only variable input. The monthly wage for labor is $2.000. Fixed cost is The following graph shows the marginal $120,000 Product dugotieto At what output does the firm reach minimum average variable cost? OOOO 100 600 6.000 O 8.000 1. Intre 2- Exposure 3-learning memory Starter Pack
Question 8 Which of these curves is the competitive firm's supply curve? O the average variable cost curve above marginal cost O the average total cost curve above marginal cost O the marginal cost curve above average variable cost o the marginal cost curve above average total cost
Use Table 23-1 to answer Questions 39 through 43. Table 23-1 Fixed Input Variable Input Total Product 141111 O-Amino 39. For the firm described in Table 23-1, what is the marginal product of the eighth unit of variable input? a. 8 B. -2 c. 5 d. 8 e. 40 40. For the production function described by Table 23-1, what level of output marks the boundary between Stage II and Stage III? a 6.5 6. 7.5 c. 10 d. 40 ....