What is marginal cost when you are using four workers

Assignment Help Business Economics
Reference no: EM131093143

Assume capital (equipment) is fixed, and labor is the only variable input. Assume the wage is $200 per worker per day, you are employing 4 workers and AP with 4 workers is 80, and AP when you only had 3 workers was 90.

1- What is the marginal cost when you are using 4 workers? ( please explain to rate you)

Reference no: EM131093143

Questions Cloud

What is weighted-average contribution margin ratio : Innova Discs has two divisions—Standard and Premium. Each division has hundreds of different types of golf discs and disc golf products. The following information is available: What is the weighted-average contribution margin ratio?
Stock in general motors corporation : In considering this, Wanda remembers that she also has some stock in General Motors Corporation. She is pretty sure that GM has some shareholders who are unbelievers. She is wondering whether this passage should lead her to sell her stock in GM as..
Compare and contrast the work of an italian renaissance : First briefly explain what primarily distinguishes Renaissance art in general from the prior Medieval period. Then, trace the evolution and development of art through the periods of the Early Renaissance to the High Renaissance.
What is the value of be in the graph : Now consider the graph below. If the average vehicle gets 25 miles per gallon, then according to the data reported in the article, what is the value of BE in the graph below
What is marginal cost when you are using four workers : Assume capital (equipment) is fixed, and labor is the only variable input. Assume the wage is $200 per worker per day, you are employing 4 workers and AP with 4 workers is 80, and AP when you only had 3 workers was 90. What is the marginal cost when ..
When the price faced by firm in competitive market : When the price faced by a firm in a competitive market was $5, the firm produced nothing in the short run. However, when the price rose to $10, the firm produced 100 tons of output. From this we can infer that
Confidence interval for the average overrun this process : The data table below provides cost overruns (actual costs minus estimated costs) in thousands of dollars on similar-size engineering projects completed this year. Calculate the following:
Describe the benefits and risks of using these five methods : Describe the benefits and risks of using these five methods.
Assume that national restaurant firm : Assume that a national restaurant firm called BBQ builds 15 new restaurants at a cost of $1 million per restaurant. It outfits each restaurant with an additional $300,000 of equipment and furnishings. To help partially defray the cost of this expansi..

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

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