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
Gains from International Trade: It leads to increased total world production of goods and services. International trade based on comparative cost advantage allows countries to

Pensions: Pension benefits are paid to individuals who have retired from active employment, in order to support themselves in last years of their lives. Pension programs can be spo


what do you mean by social welfare function

As you know, Northern Nevada Green Coalition is interested in showing how green energy production can help to grow and diversify Nevada's economy. In order to do that, we need to a

PREFERENCES TOWARD RISK * Choosing Among Risky Alternatives - Assume - Consumption of a single commodity - The consumer knows all probabilities - Payoffs measured i

Equity: The proportion of a company's total assets which are "owned" outright by the company's owners. A company's equity is equivalent to its value less its debt owed to bankers,

Estimating the Educational Structure of the Labour Force in the Economy for the Target Year The educational levels of persons within each occupational structure for the base y


A city government regulates taxi fares.  It also limits the number of taxicabs (by licensing), and has not changed the limit on cabs for lot of years.  At one time vacant taxis wer