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Author Question: Consider the following production and cost schedule for a firm. The first column shows the number of ... (Read 60 times)

zl00505

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on: Oct 12, 2022

Question 1

Consider labour that is hired for $18 per hour. If the last hour of labour hired produces 8 units of output which sells for $10 per unit, that labour-hour's marginal revenue product is
◦ $4.44.
◦ $144.
◦ $80.
◦ $1.20.
◦ $64.

Question 2

Consider the following production and cost schedule for a firm. The first column shows the number of units of a variable factor of production employed by the firm.

Total Number of Units of the FactorTotal Number of Units of OutputPrice per Unit
of Output
1020$10
1144$10
1264$10
1378$10
1484$10
1586$10

TABLE 13-1

Refer to Table 13-1. How many units of this factor of production would the profit-maximizing firm hire if the price of each unit of the factor was $30?
◦ 13
◦ 14
◦ 15
◦ 12
◦ It is not possible to determine with the data given.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by zl00505 on Oct 12, 2022

Tester

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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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zl00505

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Reply 2 on: Oct 12, 2022
Thanks for the timely response, appreciate it

Joy Chen

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Reply 3 on: Yesterday
Excellent

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