subject
History, 13.10.2020 21:01 nini7141

Note: The marginal product of labor is the increase in output added by the last unit of labor. Assignment
Note: Price=$24 = MR TR = MR X Units of Output Profit = TR - TC

Fill in the missing total revenue and profit amounts in the production cost schedule below.
Fixed Variable Total Marginal Marginal Tot1) Fill in the missing costs of the production cost schedule attached below.
Fixed Variable Total Marginal
Output Cost Cost Cost Cost AFC AVC ATC

0 $36 0 $36 $0
1 $36 8 44 8
2 $36 12 48
3 $36 15 51
4 $36 20 56
5 $36 27 63
6 $36 36 72

2) Calculate the MR (Marginal Revenue), The TR (Total Revenue), and the Profit from the production cost table below. You will have to complee the Total Cost and the Marginal Cost before calculating Marginal Revenue, Total Revenue, and Profits.
al Profit
Output Cost Cost Cost Cost Revenue Revenue
0 $36 0 $36 $0 $24
1 $36 8 44 8 24
2 $36 12 48
3 $36 15 51
4 $36 20 56
5 $36 27 63
6 $36 36 72

a) What is the profit-maximizing quantity?
b) What is the total revenue at that quantity?
c) What is the profit?
d) Why is the marginal revenue always $24?

ansver
Answers: 1

Another question on History

question
History, 21.06.2019 21:00
Which of the following was a goal of european conservatives in the early 1800s? a. the establishment of a homeland for people with a common heritage b. the expansion of suffrage to the middle class c. the constitutional protection of natural rights d. the preservation of traditional ways of life
Answers: 1
question
History, 21.06.2019 21:30
During its history, france has been a kingdom, an empire, a colonial power and a republic. true or false
Answers: 1
question
History, 22.06.2019 06:00
The climax in “the bear” occurs when
Answers: 1
question
History, 22.06.2019 12:30
During which of the following steps of marx’s transition from capitalism to communism would people join a movement to replace the current government
Answers: 1
You know the right answer?
Note: The marginal product of labor is the increase in output added by the last unit of labor. Assi...
Questions
question
Geography, 05.05.2021 02:20
question
Mathematics, 05.05.2021 02:20
question
Physics, 05.05.2021 02:20
question
Mathematics, 05.05.2021 02:20
question
Social Studies, 05.05.2021 02:20
question
History, 05.05.2021 02:20
question
Mathematics, 05.05.2021 02:20
question
Mathematics, 05.05.2021 02:20
Questions on the website: 13722361