EXPLAIN THE TABLE BELOW. WHAT HAVE YOU OBSERVED. A. SHORT-RUN CHANGES IN PRODUCTION SHOWING FACTOR PRODUCTIVITYUnits of YEmployedOutput Quantity (Q)83760961071171271287426490110 1191203752739097104314767828995243960737985317295264697327174052 54$2202421172345678Units of X EmployedThis table shows a short-run production function. Here we see what happens tooutput when increasing amounts of input X are added to a fixed amount of inputY (Y=2).76543654|FQF=HP83786458522914DUARTRON101827567584827

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A. SHORT-RUN CHANGES IN PRODUCTION SHOWING FACTOR PRODUCTIVITY Units of Y Employed Output Quantity (Q) 8 37 60 96 128 107 117 127 101 110 7 42 64 90 119 120 6 37 52 73 82 90 97 104 5 31 47 75 82 89 95 4 24 39 67 73 79 85 3 17 29 58 64 69 73 2 $2 20 17 2 3 5 7 8 Units of X Employed This table shows a short-run production function. Here we see what happens to output when increasing amounts of input X are added to a fixed amount of input Y (Y=2). 83 78 64 58 52 41 29 14 LARDSHOR 67 60 52 40 POSKTRON 27

A. SHORT-RUN CHANGES IN PRODUCTION SHOWING FACTOR PRODUCTIVITY Units of Y Employed Output Quantity (Q) 8 37 60 96 128 107 117 127 101 110 7 42 64 90 119 120 6 37 52 73 82 90 97 104 5 31 47 75 82 89 95 4 24 39 67 73 79 85 3 17 29 58 64 69 73 2 $2 20 17 2 3 5 7 8 Units of X Employed This table shows a short-run production function. Here we see what happens to output when increasing amounts of input X are added to a fixed amount of input Y (Y=2). 83 78 64 58 52 41 29 14 LARDSHOR 67 60 52 40 POSKTRON 27

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter5: Buying The Necessities

Section: Chapter Questions

Problem 20AA

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pols Add-ons Help Last edit was seconds ago xt I UA Calibri 11 + 三 2 | 3 II | I 4 II| II6 4. Thanks to years of consistent contracts and an outstanding administration, Crestwood High School has formed one of the best teaching staffs in the State of Michigan. This staff has learned how to work seamlessly with each other and students. They are now able to effectively teach more students in every class than before. *Name the determinant: Automakers have introduced new heating lamps to their paint shops that allow them to dry layers of paint faster than ever before. These newly invented heaters use less energy and have greatly increased output. 5. *Name the determinant: 27°C Rain II 近

5. Costs in the short run versus in the long run Ike's Bikes is a major manufacturer of bicycles. Currently, the company produces bikes using only one factory. However, it is considering expanding production to two or even three factories. The following table shows the company's short-run average total cost (SRATC) each month for various levels of production if it uses one, two, or three factories. (Note: Q equals the total quantity of bikes produced by all factories.) Number of Factories 1 2 3 Q = 100 Q 200 440 280 380 480 620 800 Average Total Cost (Dollars per bike) Q = 300 Q = 400 240 320 240 240 320 240 Q = 500 480 380 280 Q = 600 800 620 440 Suppose Ike's Bikes is currently producing 100 bikes per month in its only factory. Its short-run average total cost is $ per bike. Suppose Ike's Bikes is expecting to produce 100 bikes per month for several years. In this case, in the long run, it would choose to produce bikes using On the following graph, plot the three SRATC curves for…
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Firm Measures: Productivity, Costs, Revenues, and Profits Labor Total Product (TP) Fixed Cost (TFC) Variable Cost (TVC) $800,000 $ 0 $800,000 $ 800,000 $800,000 $800,000 d. e. f. g. 0 1 2 4 5 6 1. 0 8000 30000 45000 56000 60000 63000 $800,000 $800,000 $800,000 $1,500,000 $2,250,000 $3,130,000 $4,200,000 $5,040,000 a. Solve for marginal product (MP) in each row, except for where labor = 0. b. After which worker does the region of diminishing marginal returns begin? c. Specialization and division of labor are observed in which one of the three Price $80 $80 $80 $80 $80 $80 $80 regions? Solve for total cost (TC) in each row. Solve for average variable cost (AVC) in each row, except for where labor = 0. Solve for marginal cost (MC) in each row, except for where labor = 0. Why are the MC and MP inversely related to one another? While it is because as one increases, the other decreases, please explain the meaning behind the inverse relationship that exists between worker productivity and…
Eileen is a hard-working college sophomore. One Sunday, she decides to work nonstop until she has answered 250 practice problems for her math course. She starts work at 8:00 AM and uses a table to keep track of her progress throughout the day. She notices that as she gets tired, it takes her longer to solve each problem. Time Total Problems Answered 8:00 AM 0 9:00 AM 100 10:00 AM 175 11:00 AM 225 Noon 250 Use the table to answer the following questions. The marginal, or additional, gain from Eileen’s second hour of work, from 9:00 AM to 10:00 AM, is problems. The marginal gain from Eileen’s fourth hour of work, from 11:00 AM to noon, is problems.
Engineering Economics 0006 Please show step by step solution
PRINT YOUR NAME (LAST) (FIRST) Aggregate Cost Data Unit Cost Data Average Average Average I Fixed Variable Total Cost TC Marginal Quantity Fixed Variable Total Change in I Cost of Output (FC) (VC) Cost ATC Cost Cost Total Cost (TC) (ATC) Plot MC at Output Cost Cost IFC VC $600 $ 0 $ 600 I XX XX XX XX $3.00 $300 50 100 600 300 900 I $6.00 $3.00 $9.00 100 1.00 150 200 600 400 | 3.00 2.00 5.00 50 .50 - 250 300 1050 I 2.00 1.50 1.00 350 400 1150 I 1.50 1.38 2.88 200 2.00 - 450 500 600 750 1350 I 1.20 1.50 550 600 600 1200 1800 3.00 10.00 - 650 700 2200 2800 I.85 3.15 PLOT THE APPROPRIATE DATA FROM THE PRECEDING TABLE ON THE GRAPHS ON P. 134 AND 135 BEFORE ANSWERING THE EIGHT QUESTIONS BELOW. QUESTIONS 5-8 ARE ON PAGE 136. 1. How is marginal cost (ATC/AQ) represented in your graph on page 134? 2. On your graph on page 135 Variable Cost per unit (VC/Q or average variable cost) is at a minimum at an output level of, units. 3. On your graph on page 135 Total Cost per unit (TC/Q or average…
Which of the following is an example of a Variable Cost? A. an employee who makes $40,000 a year B. purchasing raw materials when production increases C. making a mortgage payment for building ight © 2003 -2022 International Academy of Science. All Rights Reserved.
Question 18 c/d Please show full work
Explain the concept long run in production time frame
28 24 point A point E epoint F 20 point B 16 point C point D 4 12 16 20 24 product X 12 8. 4. product Y