Question 1 The following table shows the relationship between the number of workers and output on...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Question 1 The following table shows the relationship between the number of workers and output on a given hour. Each worker costs $45 per hour, and the firm pays $200 for equipment. Table 1 Workers (L) 0 5 10 15 20 Output (q) 0 400 700 900 1000 Marginal Product of Labor www. Cost of workers Cost of equipment Total cost of inputs 1 pts a. Using the information in Table 1 above, fill in the column for Marginal Product of Labor. Question 2 b. Using the information in Table 1, fill in the column for Cost of Workers. Question 3 c. Using the information in Table 1, fill in the column for Cost of Equipment. 1 pts 1 pts D Question 4 d. Using the information in Table 1, fill in the column for Total Cost of Inputs. 1 pts The following table shows the total cost schedule. Table 2 q 0 10 20 30 40 50 *60 70 TC 50 70 120 180 280 390 540 700 FC VC AFC a. Using the information in Table 2, fill in the column for FC. AVC ATC E MC K D D Question 6 b. Using the information in Table 2, fill in the column for VC. Question 7 c. Using the information in Table 2, fill in the column for AFC. Round to two decimal places. 0.5 pts 1 pts d. Using the information in Table 2, fill in the column for AVC. Round to two decimal places. Question 9 e. Using the information in Table 2, fill in the column for ATC. Round to two decimal places. 1 pts 1 pts Question 10 f. Using the information in Table 2, fill in the column for MC. Round to two decimal places. Question 11 1 pts 1 pts g. Based on your answers in parts a through f, find the level of output where the efficient scale is realized. Question 1 The following table shows the relationship between the number of workers and output on a given hour. Each worker costs $45 per hour, and the firm pays $200 for equipment. Table 1 Workers (L) 0 5 10 15 20 Output (q) 0 400 700 900 1000 Marginal Product of Labor www. Cost of workers Cost of equipment Total cost of inputs 1 pts a. Using the information in Table 1 above, fill in the column for Marginal Product of Labor. Question 2 b. Using the information in Table 1, fill in the column for Cost of Workers. Question 3 c. Using the information in Table 1, fill in the column for Cost of Equipment. 1 pts 1 pts D Question 4 d. Using the information in Table 1, fill in the column for Total Cost of Inputs. 1 pts The following table shows the total cost schedule. Table 2 q 0 10 20 30 40 50 *60 70 TC 50 70 120 180 280 390 540 700 FC VC AFC a. Using the information in Table 2, fill in the column for FC. AVC ATC E MC K D D Question 6 b. Using the information in Table 2, fill in the column for VC. Question 7 c. Using the information in Table 2, fill in the column for AFC. Round to two decimal places. 0.5 pts 1 pts d. Using the information in Table 2, fill in the column for AVC. Round to two decimal places. Question 9 e. Using the information in Table 2, fill in the column for ATC. Round to two decimal places. 1 pts 1 pts Question 10 f. Using the information in Table 2, fill in the column for MC. Round to two decimal places. Question 11 1 pts 1 pts g. Based on your answers in parts a through f, find the level of output where the efficient scale is realized.
Expert Answer:
Answer rating: 100% (QA)
Okay lets work through these questions stepbystep Question 1 To calculate the Marginal Product of Labor MPL we need to find the change in output q div... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
Then make recommendations as identified below. 80 yards 40 40 yards yards Current Layout Dept. 1 Dept. 2 3 X 1 Dept. 4 70 yards Number of Patients Moved per day From Dept. 50 50 yards Dept. 3 To...
-
A 150 V battery is connected across two parallel metal plates of area 28.5 cm and separation 9.20 mm. A beam of alpha particles (charge +2e, mass 6.64 x 10-27 kg) is accelerated from rest through a...
-
List three specific parts of the Case Guide, Objectives and Strategy Section (See below) that you had the most difficulty understanding. Describe your current understanding of these parts. Provide...
-
Understanding the history and background of your company gives you valuable insights as to what to do and what not to do going forward. A brief written summary of the background and history of the...
-
Financial statements for Nackawic Inc. follow: NACKAWIC INC. Statement of Financial Position December 31 NACKAWIC INC. Income Statement Year Ended December 31, 2015 Additional information: 1....
-
A two-stage compressor in a gas turbine brings atmospheric air at 100 kPa, 17C to 500 kPa, then cools it in an intercooler to 27C at constant P. The second stage brings the air to 2500 kPa. Assume...
-
Name and explain two allocation rules and two allocation keys. Why are allocation rules and keys important to lower-level management? If you were a site manager in a chemical company, with a single...
-
An company has sales of $50 million growing at 25% YoY with EBITDA margins at 20%. It secures a JV in Year 3 with additional business of $20 million at EBITDA of 12.5% which linearly scales up to $50...
-
. The restaurant at the Hotel Galaxy offers two choices for breakfast: an all-you-can-eat buffet and an a la carte option, where diners can order from the menu. The buffet option has a budgeted meal...
-
Kincaid Company provided consulting services of $2,500 to a customer who paid $1,300 and promised to pay the remainder next month. Which of the following journal entries correctly records this...
-
Explain the 5 factors that influence adequate service delivery in an organisation . explain all factors with examples.
-
On January 1, a company agrees to pay $28,000 in four years. If the annual interest rate is 5%, determine how much cash the company can borrow with this agreement. (Use appropriate factor(s) from...
-
Prepare the net cash flows from investing activities?- Please explain in detail and show your calculations (no word limit) The following information was taken from the financial records of the...
-
You aim to buy a new car and you seek to finance this purchase through a loan. The car's price is 24,000. The car dealership is offering you a 1,000 discount (applied toward the purchase price) and a...
-
Witt Corporation received its charter during January of this year. The charter authorized the following stock: Preferred stock: 10 percent, $13 par value, 21,400 shares authorized Common stock: $11...
-
Problem 6. Express (6, 137) in Cartesian co-ordinates.
-
What is the expected payoff of an investment that yields $5,000 with a probability of 0.15 and $500 with a probability of 0.85? Select one: O a. $325 O b. $5,500 O c. $2,750 O d. $1,175
-
If piece-rate or commission systems of compensating workers have important advantages for firms, why don't more firms use them?
-
Consider the long-run Phillips curve and the short-run Phillips curve in this graph. What would cause a movement from point A to point B? What would cause a movement from point A to point C?...
-
Suppose you decide to withdraw $100 in cash from your checking account. Draw a T-account showing the effect of this transaction on your bank's balance sheet.
-
Jordan Quinn manages the local homeless shelter. He fears that a trusted employee has been stealing from the shelter. This employee receives cash from supporters and also prepares the monthly bank...
-
Refer to question 6. The balance of Allowance for Uncollectible Accounts, after adjustment, will be a. $ 100 $ 100 . b. $ 200 $ 200 . c. $ 300 $ 300 . d. impossible to determine from the information...
-
Refer to questions 6 and 7. Early the following year, Harper wrote off \(\$ 150\) of old receivables as uncollectible. The balance in the Allowance account is now The next four questions use the...
Study smarter with the SolutionInn App