A firm produces 4000 units of output using 500 workers, Microeconomics

+44 141 628 6080
[email protected]

A firm produces 4000 units of output using 500 workers

A firm produces 4,000 units of output using 500 workers. Marginal cost is $10, the wage rate is $160, and total fixed cost is $100,000.

a. What is the marginal product of labor?

b. When output is 4,000 units what happens to the average variable cost and the average total cost?

View Complete Question

Request for Solution File

Ask an Expert for Answer!!

Microeconomics: A firm produces 4000 units of output using 500 workers

Reference No:- TGS0945731

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Asked Questions

How protein is an essential part of our health

Protein is an essential part of our health as it forms building blocks for all of our cells, which then use amino acids to repair muscle, skin, organs, and bone

Discuss about health information exchanges in the niles

Review the information about Health Information Exchanges in the Niles (2024) textbook. Match the description to the term as best as you can

Discuss education and care services national regulations

According to the Education and Care Services National Regulations, when children attend the service there must also be at least one staff

How to determine if there is a quality issue

In Lesson, we discussed how to determine if there is a quality issue to measure and access. Meaning, once you have determined there is a quality problem

What inter-professional involvement needs to be considered

You have less than 10 minutes to identify the health and social concerns/needs and interventions you believe should be considered for Lorena

Why should contraception be a reproductive right

According to our textbook, lack of access to contraception negatively impacts women Why should contraception be a reproductive right?

Problem regarding childhood education and care services

In early childhood education and care services parents must always be fully informed in advance about anything that is provided for their child

Request for Solution File

Ask an Expert for Answer!!

Microeconomics: A firm produces 4000 units of output using 500 workers

Reference No:- TGS0945731

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

Q : A special-purpose machine is to be depreciated as a linear

Q : The first two years of the great depression were dominated

Q : Explain what is the short-run effect of a fiscal

Q : Aales person has the following utility function uw

Q : A firm produces 4000 units of output using 500 workers

Q : If you could live anywhere in the world where would you

Q : Suppose you are in charge of setting the price for

Q : If an economy is in a recession what would expansionary

Q : What are generally accepted accounting principles gaap who