Question

Table 13-1 Number of Workers Total Output Marginal Product 140 6. Refer to Table 13-1. What is total output when 2 workers ar
550 h 590 c. $120 d. $150 Tawe 13-8 Quantity of Output Fixed Cost Mariable $10 540 SO $130 5200 $300 10. Refer to Table 13-8.
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Answer 6. 75

Reason

Total output with one worker= 0+30= 30

Total output with two worker= 30+45=75

Answer 7. A. Diminishing marginal product of labor

Reason

Marginal product is the slope of production function. When number of workers increases by 1 unit, the marginal product rises by a small amount.

Answer 8. All of the above.

Reason

Wages paid, paper cups, sugar lemonade are all the factors that vary with the amount of lemonade produced. So they are variable costs.

Answer 9. d. $150

Reason

Total cost when 3 workers are hired= ATC*3 = $50*3= $150

Add a comment
Know the answer?
Add Answer to:
Table 13-1 Number of Workers Total Output Marginal Product 140 6. Refer to Table 13-1. What is total output when 2...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT