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oliveclam18Lv1
28 Sep 2019
Suppose a farmer rents 15 acres of alnd for $2000 per acre. Suppose he pays his labroers $18000 each for a full season of work. His production function is:
Labor (per season)
6
11
15
21
31
45
63
Output (tons)
1
2
3
4
5
6
7
Complete the table below. Divide FC, VC, and TC by 1000 to get a number that fits in the cell. Only use two significant digits if the answer is a decimal.
L
Q
APL
MPL
FC
VC
TC
MC
AFC
AVC
ATC
6
1
11
2
15
3
21
4
31
5
45
6
Suppose a farmer rents 15 acres of alnd for $2000 per acre. Suppose he pays his labroers $18000 each for a full season of work. His production function is:
| Labor (per season) | 6 | 11 | 15 | 21 | 31 | 45 | 63 |
| Output (tons) | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
Complete the table below. Divide FC, VC, and TC by 1000 to get a number that fits in the cell. Only use two significant digits if the answer is a decimal.
| L | Q | APL | MPL | FC | VC | TC | MC | AFC | AVC | ATC |
| 6 | 1 | |||||||||
| 11 | 2 | |||||||||
| 15 | 3 | |||||||||
| 21 | 4 | |||||||||
| 31 | 5 | |||||||||
| 45 | 6 |
Raushan RajLv8
28 Sep 2019
