Question: I need help with these problems. Thank you 2.a. Fill in the blanks in the table below. What is the value of TFC? Q TC

I need help with these problems. Thank you

I need help with these problems. Thank you 2.a. Fill in theblanks in the table below. What is the value of TFC? QTC TVC AC AVC AFC MC 1 $100 N $70 W $127

2.a. Fill in the blanks in the table below. What is the value of TFC? Q TC TVC AC AVC AFC MC 1 $100 N $70 W $127 $37 $216 5 $49 6 $46 $399 8 $62 b. Draw two graphs using the numbers derived above - one graph showing TFC, TVC, and TC and the other showing AFC, AVC, AC, and MC. [Please be neat and draw the graphs big enough so that they can be read easily.]Use the table below to answer question 3 3. Assume that a rm nds its prots will be maximized when it produces 50 units of product W (i.e., \"widgets\"). Three techniques shown in the table below will produce exactly 50 widgets. Resource Technique Technique Technique Prices A B C Labor $5 5 4 2 Capital 10 2 3 5 Entrepreneur 20 1 1 1 a. Which technique is the least expensive way of producing a widget? b. Suppose the rm chooses the least-cost method of production. If widgets sell for $2 each, what is the total economic prot of the rm? c. What is the total accounting (i.e., normal) prot of the rm? 1. Use the following table to answer the questions below. Number of Chefs Number of Pizzas produced per day 5 25 40 50 55 58 58 HF'P'PP'N!' a. Find the marginal product (MP) for each value of L. b. The rm is experiencing increasing returns with how many workers? c. At what number of workers will diminishing marginal returns begin? d. Find the marginal revenue product (MRP) for each value of L, assuming the price ofa pizza is 510. e. If the price of a pizza is $10 and each chef's wage is $50 per day, how many chefs will this competitive pizza shop hire in order to maximize prots? f. At the optimal quantity of labor, the (economic) prot equals 5 g. Draw a graph showing the optimal quantity of the labor input. Be sure to indicate where the P of labor = MRP of labor

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