PHYS 112 Midterm: PHYS 112 IA State Exam2x
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Quiz 9: consider the following table which shows the minimum cost way to produce various levels of output for a firm. Assume that the price of output is . 46. The prices of inputs are given by w1 and w2. Appi is the average physical product of the ith input while mppi is the marginal physical product of the ith input. Mrs represents the marginal rate of substitution. x1 x2 w1. 27. 228: 380, 382, 402, 460, cannot tell from the data. 3. 196: consider the following table which shows cost and revenue data for a specific price setting firm. Y denotes output, fc denotes fixed cost, vc denotes variable cost, c represents cost, afc is average fixed cost, avc is average variable cost, atc is average total cost, and mc is marginal cost. Tr is total revenue and mr is marginal revenue.
