Microeconomics, economics, Microeconomics

INFO:
Suppose that a firm is currently employing 20 workers,(the only variable input), at a wage rate of $60. The average product of labor is $30, the last worker added 12 units to total output, and total fixed cost is $3,600.

Quetions:
1. How much output is being produced?
2. What is the marginal cost?
3. What is the average variable cost?
4. What is the average total cost?
5. Is the average variable cost increasing, constant, or decreasing? Explain.
6. Is average total cost increasing, constant, or decreasing? Explain.
Posted Date: 3/12/2012 11:14:09 PM | Location : United States







Related Discussions:- Microeconomics, economics, Assignment Help, Ask Question on Microeconomics, economics, Get Answer, Expert's Help, Microeconomics, economics Discussions

Write discussion on Microeconomics, economics
Your posts are moderated
Related Questions
Problem: (a) Why is an error term added to a regression and explain its importance in the OLS procedure? (b) Suppose we have a linear equation with a constant term, one expl

Case 1: The market for drugs Supply, demand, and equilibrium: The market for drugs. Suppose the market for drugs is a perfectly competitive market. Let the supply curve

Functions of the Central Bank: Currency issue and distribution: The Central Bank is the only institution empowered by law to issue currency notes and coins that are used as a

Hi, Can you help with writing journals homework? It should be in english as a second language. Ten pages different topics about Karl Marx economics views. I will give you the t

Following the tremendous success of the 'Matthew Hayden Cookbook', we are once more welcomed into the home-and, more importantly, the kitchen!- of Australia's gourmet cricketer for

how much for taking a test

why is elasticity important for beachfronf properties

Problem 1: (a) Explain the meaning of poverty. Briefly explain how poverty is measured? (b) Clearly explain the relationship between Poverty, Inequality and Economic Growt

The definition of a price maker is states as “firm with some power to set the price bcoz the demand curve for its output slopes downward”, that in effect, mean those firms with a d

Q. What is Gross Domestic Product Per Capita? Gross Domestic Product, Per Capita: Level of GDP divided by the population of a region or country. Changes in real GDP per capita