1
answer
0
watching
143
views
28 Sep 2019
The following table summarizes the short-run production function for your firm. Your product sells for $6 per unit, labor costs $6 per unit, and rental price of capital is $10 per unit. Complete the following table, and then answer the accompanying questions.
K L Q MPK APK APL VMPK
5 1 0
5 2 5
5 3 10
a. Which inputs are fixed inputs?
b. Which are the variable inputs?
c. How much are your fixed costs?
d. What is the variable cost of producing 10 units of output?
The following table summarizes the short-run production function for your firm. Your product sells for $6 per unit, labor costs $6 per unit, and rental price of capital is $10 per unit. Complete the following table, and then answer the accompanying questions.
K L Q MPK APK APL VMPK
5 1 0
5 2 5
5 3 10
a. Which inputs are fixed inputs?
b. Which are the variable inputs?
c. How much are your fixed costs?
d. What is the variable cost of producing 10 units of output?
Kritika KrishnakumarLv10
28 Sep 2019