assignment, Economics, Microeconomics

Assignment Help:
Ali Pizza’s production function is shown in the table above. Ali currently operates
Plant2. He hires workers at a wage rate of $50 a day and his total fixed cost is $150.
a) Calculate Ali Pizza’s total variable cost and total cost for each output level. (5 marks)
b) Calculate the marginal costs. (5 marks)
c) Calculate the average fixed costs, average variable costs, and average total costs.
(5 marks)
d) Suppose that total fixed cost increases to $200. Explain what changes occur in the costs.

Related Discussions:- assignment, Economics

#title, what is marginal costs?

what is marginal costs?

The Invisible Hand and Externalities, In markets, the invisible hand alloca...

In markets, the invisible hand allocates resources efficiently a. in all cases b. when there are positive externalities, but not when there are negative externalities c. when there

PERFECT COMPETITION and THE SUPPLY CURVE & MONOPOLY, Joe Brown’s dairy oper...

Joe Brown’s dairy operates in a perfectly competitive marketplace. Joe’s machinery costs $500 per day and is the only fixed input. His variable costs are comprised of the wages pai

What are constant returns to scale, What are constant returns to scale? ...

What are constant returns to scale? Constant returns to scale: A constant return to scale (CRS) implies that doubling inputs precisely double outputs, which is frequently a

Socialist economy, Socialist Economy: The material means of production are ...

Socialist Economy: The material means of production are owned by the whole community represented by State under socialist form of economy. All members have equal right in the benef

Economics, characteristics of microeconomics

characteristics of microeconomics

Price theory, what are the microeconomic encompasses

what are the microeconomic encompasses

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