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2 Jul 2018
The following table summarizes the short-run production function for your firm. Your product sells for $6 per unit, labor costs $6 per unit, and rental price of capital is $10 per unit.
Complete the following table, and then answer the accompanying questions.
K
L
Q
MPK
APK
APL
VMPK
0
5
0
1
5
10
2
5
30
Which inputs are fixed inputs? â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦.
Which are the variable inputs? â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦.
How much are your fixed costs? â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦
What is the variable cost of producing 10 units of output?
The following table summarizes the short-run production function for your firm. Your product sells for $6 per unit, labor costs $6 per unit, and rental price of capital is $10 per unit.
Complete the following table, and then answer the accompanying questions.
K | L | Q | MPK | APK | APL | VMPK |
0 | 5 | 0 | ||||
1 | 5 | 10 | ||||
2 | 5 | 30 |
Which inputs are fixed inputs? â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦.
Which are the variable inputs? â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦.
How much are your fixed costs? â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦â¦
What is the variable cost of producing 10 units of output?
Irving HeathcoteLv2
3 Jul 2018