Question: PLease answer 1 & 2 l. The following table shows a lm's input, output and oosts in the short run. The price of each unit
PLease answer 1 & 2

l. The following table shows a lm's input, output and oosts in the short run. The price of each unit of output is H.200. (All costs and prices are in Tk.) Labor Quantity of Variable Total input Ouggut cost cost 0 O 0 500 l 4 20 520 2 S 40 540 3 13 60 560 4 19 80 580 5 26 100 600 a) What is the AF C of the rm when it employs l worker? b) What is the MC of the 2nd worker? c) What is the prot when the rm employs 3 workers? (1) What is the MP of the 4'\" worker? 6) Does this rm follow the law of diminishing marginal productfreturns, explain. 2. State the characteristics with an example of all the market structures discussed in class
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
