6
answers
0
watching
31
views
20 Nov 2019
Homework 3 Questions 1 and 2 refer to the following table Production Function for Soybeans Quantity of labor (workers) Quantity of soybeans (bushels 25 45 60 70 4 1. What is the marginal product of the second worker? a. 2 bushels b. 20 bushels c. 25 bushels d. 45 bushels 2. Assume that the fixed input is a parcel of land with cost of $150. The cost of labor is $100 per worker. The total cost of producing 70 bushels of soybeans is: a. $250 b. $400 c. $550 d. $1,024 Questions 3 and 4 refer to the following table Costs of Purses Quantity Variable Total cost of output cost (VC 50 70 100 140 TC 50 100 120 150 190 4 3. The marginal cost of producing the second purse is: a. $20 b. $35 c. $50 d. $60 4. The average fixed cost of producing 2 purses is: a. $0 b. $2 c. $25 d. $50
Homework 3 Questions 1 and 2 refer to the following table Production Function for Soybeans Quantity of labor (workers) Quantity of soybeans (bushels 25 45 60 70 4 1. What is the marginal product of the second worker? a. 2 bushels b. 20 bushels c. 25 bushels d. 45 bushels 2. Assume that the fixed input is a parcel of land with cost of $150. The cost of labor is $100 per worker. The total cost of producing 70 bushels of soybeans is: a. $250 b. $400 c. $550 d. $1,024 Questions 3 and 4 refer to the following table Costs of Purses Quantity Variable Total cost of output cost (VC 50 70 100 140 TC 50 100 120 150 190 4 3. The marginal cost of producing the second purse is: a. $20 b. $35 c. $50 d. $60 4. The average fixed cost of producing 2 purses is: a. $0 b. $2 c. $25 d. $50
rosemarvins12Lv10
6 Aug 2023
Unlock all answers
Get 1 free homework help answer.
Already have an account? Log in
samvicLv10
29 Jul 2023
Get unlimited access
Already have an account? Log in
claralillia1Lv10
23 Jul 2023
Get unlimited access
Already have an account? Log in
evereadyLv10
8 Jul 2023
Get unlimited access
Already have an account? Log in
OC4396189Lv10
4 Jul 2023
Get unlimited access
Already have an account? Log in
Collen VonLv2
14 Jul 2019
Get unlimited access
Already have an account? Log in