compute marginal cost and average cost, Microeconomics

Assignment Help:
Fill in the column of marginal products. What pattern do you see? How might you explain it?

b. A worker costs $30 per day and the ''Firm has fixed costs of $10. Use this information to fill in the column for total cost.

c. Fill in the column for average total cost. (Recall that ATC = TC/Q) What pattern do you see?

d. Now fill in the column for marginal cost. (Recall that MC = ATC/AQ.) What pattern do you see?

e. Compare the column for marginal product and the column for marginal cost. What pattern do you see?

f. Compare the column for average total cost and the column for marginal cost. Explain the relationship.

Related Discussions:- compute marginal cost and average cost

Nature and types of resource, Normal 0 false false false ...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Finding concavity, my q is dat how can we find mathematically dat a product...

my q is dat how can we find mathematically dat a production function is concave?

Labour economics, Consider the following flow (in thousands of people) betw...

Consider the following flow (in thousands of people) between the various labour market states in a particular month:

Graded discussion board, The Case: In Pakistan, sugarcane, wheat, rice and ...

The Case: In Pakistan, sugarcane, wheat, rice and cotton accounted for 90% of the value added in crops and 6% of GDP in the last fiscal year but the average yield of these crops is

Revise business plans to incorporate appropriate cha, Revise business plans...

Revise business plans to incorporate appropriate changes.

Public goods and public choice, politicians are often heard saying that tui...

politicians are often heard saying that tuition at state universities should be kept low to make equation equally accessible to all residents of the state, regardless of income

Private and social benefits, Private and Social Benefits Private benef...

Private and Social Benefits Private benefits are those which accrue to an individual. They may be both monetary and non monetary, direct and indirect. Earnings of an individua

The demand curve, The owner of the sole stage-theatre in the city of Vorder...

The owner of the sole stage-theatre in the city of Vordervilla has found through   experience that the cost of running his 600-seat theatre remains virtually the same irrespective

Economic reforms and infrastructure growth, Economic Reforms and Infrastruc...

Economic Reforms and Infrastructure Growth Infrastructure data for the pre-reform period (1980-81 to 1990-91) is with1980-81 as base year and for post-reform period (1993-94 t

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd