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Economics, Microeconomics
Year 3

Finding Total Ecnomic Profit


Here is the Scenerio-
  Labor is only variable input.
  Output is 4000 unit
  Marginal Product of labor is 10
  Average Product of labor is 50
  Price of labor is $150
  Marginal product of capital is 40
  Average product of capital is 60
  Price of capital is $240
  Total Fixed Cost is $16000

Output MC AVC AFC ATC Total Economic Profit
  4000  __ __  __  __      _____    

  How I find those values....plz show me the Work too
  I would really appreciate that. I got It partially  
  I guess

By OTA:  Suraj Joshi, PhD (IP)

OTA Rating:  4.7/5

Your Price:  $2.19  (original value ~$3.99)

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