Labor Output (workers per day) (pairs of jeans per day) 0 0 1 4 2 11...
|
Labor |
Output |
|
(workers per day) |
(pairs of jeans per day) |
|
0 |
0 |
|
1 |
4 |
|
2 |
11 |
|
3 |
17 |
|
4 |
20 |
|
5 |
21 |
The table shows the total product schedule of a firm that uses 1 sewing machine.
The firm rents the sewing machine for $15 a day and pays its workers $30 a day.
When the firm increases production from 17 to 20 pairs of jeans a day, what is marginal cost?
The marginal cost when the firm increases production from 17 to 20 pairs of jeans a day is $____.
Homework Answers
| L | Q | FC | VC=30L | TC=FC+VC | MC= Change in TC |
| 0 | 0 | 15 | 0 | 15 | - |
| 1 | 4 | 15 | 30 | 45 | 30 |
| 2 | 11 | 15 | 60 | 75 | 30 |
| 3 | 17 | 15 | 90 | 105 | 30 |
| 4 | 20 | 15 | 120 | 135 | 30 |
| 5 | 21 | 15 | 150 | 165 | 30 |
The marginal cost when the firm increases production from 17 to 20 pairs of jeans a day is $30.
Add Answer to:
Labor
Output
(workers per day)
(pairs of jeans per day)
0
0
1
4
2
11...
Question 1 1 pts Labor Total product Marginal (workers per day) (units per day) product 2...
Question 1 1 pts Labor Total product Marginal (workers per day) (units per day) product 2 8 12 3 5 In the above table, the marginal product of the second worker is 3 5 Oo oo Question 2 1 pts Labor Total product |(workers per day) (units per day) 0 0 2 Marginal product 0 2 8 3 12 T In the above table, the total product that can be produced with four workers is O 16 Ο Ο Ο...
Cost schedule Total variable Total cost Labor Output (units per day) cost (dollars) (workers) (dollars) 0...
Cost schedule Total variable Total cost Labor Output (units per day) cost (dollars) (workers) (dollars) 0 30 1 3 20 50 2 40 70 3 12 60 90 4 14 80 110 5 15 100 130 In the above table, the total fixed cost is O $20 O $30. O $0. O $50. Question 13 1 pts In the above table, when output increases from 12 to 14 units, the marginal cost of one of those 2 units is O...
QUESTION 22 A firm can produce 450 gallons of milk per day with 4 workers and...
QUESTION 22 A firm can produce 450 gallons of milk per day with 4 workers and 500 gallons per day with 5 workers. The marginal product of the fifth worker expressed in gallons per worker per day, is: 35. 50. 70. 350. 2.5 points QUESTION 23 Exhibit 7-1 Production of pizza data Workers Pizzas 0 0 1 4 2 10 3 15 4 18 5 19 Exhibit 7-1 shows the change in the production of pizzas as more workers...
Labor Total product (workers) (wands per day) 0 0 1 10 25 3 45 4 60...
Labor Total product (workers) (wands per day) 0 0 1 10 25 3 45 4 60 5 70 The table above shows Randy's Wands' short-run production function. Randy hires workers at a wage rate of $120 a day and his total fixed cost is $400/day. a) What is the marginal product of the 3rd worker? b) What is Randy's average fixed cost if 25 wands are produced? What is Randy's average variable cost if 60 wands are produced? c) d)...
" A factory can produce 4 pairs of running shoes a day with 2 workers. Draw...
" A factory can produce 4 pairs of running shoes a day with 2 workers. Draw a point at this combination of labor and output. Label it 1. The factory can produce 20 pairs of running shoes a day with 5 workers. Draw a point at this combination of labor and output. Label it 2. Draw the factory's total product curve over the range of 0 to 5 workers. Show both increasing and decreasing marginal returns and label the curve....
Question 5 (1 point) Labor Total product (workers per day)| (hats per day) 1 10 18...
Question 5 (1 point) Labor Total product (workers per day)| (hats per day) 1 10 18 5 25 30 5. The above table shows the total product of producing baseball hats. The average product of 3 workers is equal to 1.67 baseball hats. 12.78 baseball hats. 18.00 baseball hats. 6.00 baseball hats. Question 6 (1 point) 6. The law of diminishing marginal returns says that as the firm uses more of - with a given quantity of product of the...
Labor Output L Q. 0 0 1 3 2 8 3 15 4. 20 5 21...
Labor Output L Q. 0 0 1 3 2 8 3 15 4. 20 5 21 6 17 5 21 6 17 What is the marginal product of the third worker? Note: Recall that marginal product is MPL AQ AL 5 7 00 Question 7 1/1 pts What is the average product when three workers are employed? Note: Recall that average product is APL • 5 7 8 correct Question 8 0/1 pts Is it sensible for the firm to...
Given the following production function for Tight Jeans Corporation, calculate the marginal physical product, graph the...
Given the following production function for Tight Jeans Corporation, calculate the marginal physical product, graph the production function and the marginal physical product on two separate graphs, then answer three questions about marginal productivity. a. Calculate the marginal physical product. Short-Run Production Function Labor input (workers per day) 0 1 2 3 4 5 6 7 8 Output (pairs of jeans per day) 0 10 36 56 68 74 76 76 74 Marginal physical product -- 10 26 20 12...
Production and Direct Labor Cost Budgets Levi Strauss & Co. manufactures slacks and jeans under a...
Production and Direct Labor Cost Budgets Levi Strauss & Co. manufactures slacks and jeans under a variety of brand names, such as Dockers® and 501 Jeans®. Slacks and jeans are assembled by a variety of different sewing operations. Assume that the sales budget for Dockers and 501 Jeans shows estimated sales of 23,600 and 53,100 pairs, respectively, for May. The finished goods inventory is assumed as follows: Dockers 501 Jeans May 1 estimated inventory 670 1,660 May 31 desired inventory...
(7,90) Chairs per day AVC AFC 2 3 Labour (workers per day) a) The marginal cost...
(7,90) Chairs per day AVC AFC 2 3 Labour (workers per day) a) The marginal cost curve first declines and then increases because of The decline in the gap between ATC and AVC as output expands Constant marginal revenue Increasing, then diminishing, marginal utility Increasing, then diminishing, marginal returns b) The vertical distance between ATC and AVC measures Marginal cost Economic profit per unit Average fixed cost Total fixed cost c) When the marginal cost curve lies above the AVC...
Question 1 1 pts Labor Total product Marginal (workers per day) (units per day) product 2 8 12 3 5 In the above table, the marginal product of the second worker is 3 5 Oo oo Question 2 1 pts Labor Total product |(workers per day) (units per day) 0 0 2 Marginal product 0 2 8 3 12 T In the above table, the total product that can be produced with four workers is O 16 Ο Ο Ο...
Cost schedule Total variable Total cost Labor Output (units per day) cost (dollars) (workers) (dollars) 0 30 1 3 20 50 2 40 70 3 12 60 90 4 14 80 110 5 15 100 130 In the above table, the total fixed cost is O $20 O $30. O $0. O $50. Question 13 1 pts In the above table, when output increases from 12 to 14 units, the marginal cost of one of those 2 units is O...
Labor Total product (workers) (wands per day) 0 0 1 10 25 3 45 4 60 5 70 The table above shows Randy's Wands' short-run production function. Randy hires workers at a wage rate of $120 a day and his total fixed cost is $400/day. a) What is the marginal product of the 3rd worker? b) What is Randy's average fixed cost if 25 wands are produced? What is Randy's average variable cost if 60 wands are produced? c) d)...
Question 5 (1 point) Labor Total product (workers per day)| (hats per day) 1 10 18 5 25 30 5. The above table shows the total product of producing baseball hats. The average product of 3 workers is equal to 1.67 baseball hats. 12.78 baseball hats. 18.00 baseball hats. 6.00 baseball hats. Question 6 (1 point) 6. The law of diminishing marginal returns says that as the firm uses more of - with a given quantity of product of the...
Labor Output L Q. 0 0 1 3 2 8 3 15 4. 20 5 21 6 17 5 21 6 17 What is the marginal product of the third worker? Note: Recall that marginal product is MPL AQ AL 5 7 00 Question 7 1/1 pts What is the average product when three workers are employed? Note: Recall that average product is APL • 5 7 8 correct Question 8 0/1 pts Is it sensible for the firm to...
(7,90) Chairs per day AVC AFC 2 3 Labour (workers per day) a) The marginal cost curve first declines and then increases because of The decline in the gap between ATC and AVC as output expands Constant marginal revenue Increasing, then diminishing, marginal utility Increasing, then diminishing, marginal returns b) The vertical distance between ATC and AVC measures Marginal cost Economic profit per unit Average fixed cost Total fixed cost c) When the marginal cost curve lies above the AVC...
Most questions answered within 3 hours.
-
Where is the error in this code sequence?
String s1 = "Hello";
String s2 = "ello";...
asked 11 months ago -
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance...
asked 11 months ago -
Consider this reaction:
Al2(SO4)3 (aq)+ BaCl3
(aq) Al2Cl6 (aq)- +
3BaSO4(s) . What is the...
asked 11 months ago -
Suppose that Savneet is considering increasing her
recent random sample from 20 car rentals to 40...
asked 11 months ago -
Trucks arrive at an unloading terminal at an average rate of 120
per hour.
Trucks arrive...
asked 11 months ago -
Why are methanol and ethanol completely soluble in water while
octanol is not very little soluble....
asked 11 months ago -
A facilities manager at a university reads in a research report
that the mean amount of...
asked 11 months ago -
When the CuSO4 is rehydrated by adding water to the anhydrous
compound, is this an endothermic...
asked 11 months ago -
A ray of sunlight is passing from diamond into crown glass; the
angle of incidence is...
asked 11 months ago -
A block of mass 0.249 kg is placed on top of a light, vertical
spring of...
asked 11 months ago -
how do the kidneys compensate in the presences of acidosis
a) trigger hyperventilate
b) reserve acid...
asked 11 months ago -
Question 501 pts
The rental rate of capital to the firm increases. Which of the
following...
asked 11 months ago