Problem solving and graphing Economics Microeconomics

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Subjects -> Economics -> Microeconomics -> Posting #1991

Economics, Microeconomics

Year 1

Problem solving and graphing

Complete the following table, assuming that each unit of labor below costs $75 per day.

L        Q        TFC        TVC        STC        MC
0         0       $300       $           $           $
1        5 75 15
2        11           150 450 12.5
3        15                                  525
4        18                     300         600       25
5        20 37.5

a.  Graph the fixed cost, variable cost total cost curves for these data.

b.  What is the marginal product of going from two to three units of labor?

c.  What is the average total cost when output is 18 units per day?

See attatched file. Please fill in table and complete questions with equations

problem set 3 #3.txt View File

By OTA: Monwar Rahman, MSS, MBA

OTA Rating: 4.9/5

Your Price: $2.19 (original value ~$11.97)

What's included:

Plain text response
Attachment(s):
- BrainMass-OTA Service2 (1991).doc

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