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ECO Chapter 11 - Technical Problem 9, p. 440

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Question;Chapter 11: Technical;Problem 9, p. 440;Consider a price-taking firm that;has total fixed cost of $50 and faces a market-determined price of $2 per unit;for its output. The wage rate is $10 per;unit of labor, the only variable input.;(1);Units;of Labor;(2);Output;(3);(a);Marginal;product;(4);(b);Marginal;revenue product;(5);(d);Marginal;cost;SMC;= w/MP;(6) (f);Profit;1;5;5;2;15;3;30;4;50;5;65;6;77;7;86;8;94;9;98;10;96

 

Paper#56576 | Written in 18-Jul-2015

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