Question: (A) Over what range of the Input X will marginal costs be falling if Px is not offered by the amount purchased? (B) At approximately

(A) Over what range of the Input X will marginal costs be falling if Px is not offered by the amount purchased?
(B) At approximately what level of employment Input X will average variable cost be maximized?
(C)If Px=$25, what is the minimum average variable cost in the production system?
(D)What is the marginal cost of production at 60 units of output ?
(E)If the price of output is $2 per unit, is employment of 3 units of X optimal for a profit- maximizing firm? (assume X cost $25 Plu)

(a) Oues whed renge of Inpest x will marginal costs be folling if Px is not affited by the amannt purchased? (b) At appreximafely what levte of employment Input X will averyye variable cost be minimised? (c) If Px=$25 whof is the minimum averaje varuble cost in the production system? (d) What is the marginal aot of production at 60 units of arfbut? (e) If the price of oatout is $2 per unit is employment of 3 units of X optimal for a profit-maximising firm? (Assume X cosf $25 ppa) (a) Oues whed renge of Inpest x will marginal costs be folling if Px is not affited by the amannt purchased? (b) At appreximafely what levte of employment Input X will averyye variable cost be minimised? (c) If Px=$25 whof is the minimum averaje varuble cost in the production system? (d) What is the marginal aot of production at 60 units of arfbut? (e) If the price of oatout is $2 per unit is employment of 3 units of X optimal for a profit-maximising firm? (Assume X cosf $25 ppa)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
