Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Homework Help/Study Tips Expert

1. The following table shows data for a simple production function.

Capital(K) Labor(L) Total Product(TP) Average Product(AP) Marginal Product(MP)

Column 1 numbers = Capital ; Column 2 numbers = Labor; Column 3 numbers= Total Product

10 0 0
10 1 5
10 2 15
10 3 30
10 4 50
10 5 75
10 6 85
10 7 90
10 8 92
10 9 92
10 10 90

a. From the information in the table, find out marginal and average products.

b. Graph the three functions on separate graphs (Total production, Marginal Products and Average Products).

c. For what range of output does this function have diminishing marginal returns?

d. At what output is average product maximized?

2. Assume the demand curve for a monopolist is QD= 500 - P, and the marginal revenue function is MR = 500 - 2Q. The monopolist has a constant marginal and average total cost of $50 per unit.

a. Find the monopolist's profit-maximizing output and price.

b. find out the monopolist's profit.

c. What is the Lerner Index for this industry?

Homework Help/Study Tips, Others

  • Category:- Homework Help/Study Tips
  • Reference No.:- M937476

Have any Question? 


Related Questions in Homework Help/Study Tips

Objectiveperform literature search and review identify a

Objective Perform literature search and review. Identify a topic for research - usually problem(s). Form a hypothesis and the aims of the research project. Work out a list of specific objectives aiming to test the hypoth ...

Question 1which description fits the cave at lascaux france

Question 1 Which description fits the cave at Lascaux, France, best? A. Not a cave, but an overhanging shelter B. Has a rare depiction of a human C. Has the most pronounced sculptural effects D. Named for its discoverer ...

Term paper security regulation compliancethis assignment

Term Paper: Security Regulation Compliance This assignment consists of two sections: a written paper and a PowerPoint presentation. You must submit both sections as separate files for the completion of this assignment. L ...

Although the original goal of the juvenile court was to

Although the original goal of the juvenile court was to care for the wayward child through therapeutic interventions, there are many individuals calling for juveniles to be treated as adult offenders. The current debate ...

Sanderson soapsare working teams utilized throughout the

Sanderson Soaps Are working teams utilized throughout the case study organization? If so, what have been the effects of employee participation in working teams? Which leadership skills are identified through involvement ...

Annotated bibliographyas part of your doctoral seminar for

Annotated Bibliography As part of your Doctoral Seminar for this set of weeks, you are participating in a seminar-style discussion about the weekly topics. Please select 4 resources from the required reading and select 3 ...

Do you think that peoples responses on your questionnaire

Do you think that peoples responses on your questionnaire might be affected by response biases? If so, what steps could you take to minimize them?

Josh is a runner for steve shady a prominent sports agent

Josh is a "runner" for Steve Shady, a prominent sports agent. While on campus at Bigtime University in the State of Missolina, Josh meets (without informing the administration of his presence on campus) with Marcus Goode ...

In this journal you will write a well developed paragraph

In this journal, you will write a well developed paragraph in which defines the growth mindset, uses an appropriate quote from chapters 1-3 that helps you to define and explain the mindset and you will paraphrase and exp ...

1 1920s was a decade of immense change and in some cases

1. 1920s was a decade of immense change and, in some cases, great turmoil in the United States. Give three major examples of movements, changes, or other cultural phenomena that connected with religion during the era. Ho ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro