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Author Question: The following data show the total output for a firm when specified amounts of labour are combined ... (Read 55 times)

lol1012

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on: Oct 12, 2022

Question 1

A firm that is maximizing its profits by producing a certain level of output must also be
◦ minimizing its variable costs.
◦ maximizing its sales.
◦ maximizing its revenue.
◦ minimizing its cost of producing that output.
◦ maximizing its output.

Question 2

The following data show the total output for a firm when specified amounts of labour are combined with a fixed amount of capital. When answering the questions, you are to assume that the wage per unit of labour is $25 and the cost of the capital is $100.

Labour per unit of timeTotal output
0  0
1 25
2 75
3175
4250
5305
TABLE 7-4

Refer to Table 7-4. Average fixed costs for 305 units of output is approximately
◦ 41 cents.
◦ 74 cents.
◦ 45 cents.
◦ 33 cents.
◦ $3.05.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by lol1012 on Oct 12, 2022

jbsuccess1

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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lol1012

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Reply 2 on: Oct 12, 2022
Great answer, keep it coming :)

billybob123

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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