Purchase Solution

Cost of Output Calculations

Not what you're looking for?

Ask Custom Question

76. Given the curve shown below, the marginal product of labor will be maximized at:
A) 0 units of output.
B) 1 unit of output.
C) 2 units of output.
D) 3 units of output.
E) not enough information to tell.

Attachments
Purchase this Solution
Solution Summary

The cost of output calculations for marginal products are determined.

Solution Preview

Please see attached file

76. Given the curve shown below, the marginal product of labor will be ...

Purchase this Solution
Free BrainMass Quizzes
Basics of Economics

Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.

Economics, Basic Concepts, Demand-Supply-Equilibrium

The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.

Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.

Economic Issues and Concepts

This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.

Elementary Microeconomics

This quiz reviews the basic concept of supply and demand analysis.

View More Free Quizzes
Related BrainMass Solutions

  • Cost function, average fixed cost, variable cost function

    Assuming output occurs in whole units, i.e. 1, 2,3,... at what output does the low point of ATC occur and what is the ATC at that output? Show your calculations. c. What is the variable cost of an output of 50? d.

  • Calculating profit/loss in the given cases

    In case of 4 unit output, MC is $70 which is higher than market price of $55. Optimal output should be 4 units.

  • The Production Function and Cost Analysis

    Assuming output occurs in whole units, i.e. 1, 2,3,… at what output does the low point of ATC occur and what is the ATC at that output? Show your calculations. c. What is the variable cost of an output of 50? d.

  • Market Forms and Cost & Profit Calculations

    Output Average Fixed cost Average Variable Cost Average Total Cost Marginal Cost Price Total Revenue Marginal Revenue 0  $ 345.00 1  $   180.00  $ 135.00  $    315.00  $ 300.00 2  $     90.00  $ 127.50  $    217.50  $ 249.00 3  $     60.00

  • Calculating average and total costs

    So, Fixed Cost =TFC=50*800=$40000 Calculating Variable Cost Upto output level of 80% of capacity i.e. 800 units, variable cost is $100 per unit.

  • Layoff and shutdown decisions based on worker productivity

    For both sets of calculations, compare the firm's output price and the calculated average variable cost and average total cost. Should the firm shutdown immediately when the total fixed cost equals $1,000,000?

  • Finding optimal output level

    =change in TC/Change in output For example when output increases from nil output to one unit of output, MC is given by MC=(2000-1000)/(1-0)=1000 Similarly other calculations are carried out (Look into the cell for formulas)

  • Economic Profit and Loss

    Answer the next questions on the basis of the following cost data for a firm ipure competition:                Output TFC TVC Marginal Cost,MC* 0 100 0 1 100 70 70

  • Profit max, average cost, long-run equilibrium

    It helps calculate output, economic profit and average cost. It also helps with a problem about long-run equilibrium. Step by step calculations are given.

View More Related Solutions