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?
Answers: 1
History, 21.06.2019 21:00, shanasia76
Write the title date and stated purpose of the map you have chosen to describe what you learn from your careful review of the maps information. picture above
Answers: 2
History, 21.06.2019 22:30, annsmith66
Type the corect answer in the box. there were many causes of the enlightenment. however, a particular revolution played an important role in its development. this revolution was a result of discoveries made by scientists such as isaac newton and galileo galilei. they dug deep into the realms of science to discover new laws of physics and decipher the mysteries of the universe. the revolution refuted the claims of the catholic church about the position of earth in the solar system. this revolution is called what?
Answers: 1
History, 22.06.2019 00:50, bbyjean9974
How did the declaration of sentiments women’s movement
Answers: 2
Note: The marginal product of labor is the increase in output added by the last unit of labor.
Assi...
Chemistry, 05.02.2021 06:00
English, 05.02.2021 06:00
Chemistry, 05.02.2021 06:00
Mathematics, 05.02.2021 06:00