Question

QUESTION 34 Amount of Variable Input Amount of Output Average product Marginal product 0 0 1...

QUESTION 34

  1. Amount of Variable Input

    Amount of Output

    Average product

    Marginal product

    0

    0

    1

    5

    2

    25

    3

    55

    4

    75

    A

    5

    100

    B

    6

    118

    C

    7

    135

    D

    F

    8

    152

    E

    G

    9

    167

    H

    10

    170

    I

    11

    169

    J

    What is A+B+C+D+E ? (Rounding to one decimal place)

4 points   

QUESTION 35

  1. What is F+G+H+I+J? (Use  table in question 34)

    QUESTION 36

  2. Find maximum efficiency output level

    (use table in question 34)

  3. QUESTION 37

  4. Identify Profit Maximizing Production Area

    from output level  to between  and

Homework Answers

Answer #1

Amount of Variable Input

Amount of Output

Average product

Marginal product

0

0

1

5

5.00

5.00

2

25

12.50

20.00

3

55

18.33

30.00

4

75

18.75

20.00

5

100

20.00

25.00

6

118

19.67

18.00

7

135

19.29

17.00

8

152

19.00

17.00

9

167

18.56

15.00

10

170

17.00

3.00

11

169

15.36

-1.00

Q1. A+B+C+D+E=18.75+20+19.67+19.29+19=96.71

Q2.F+G+H+I+J =17+17+15+3-1=51

Q3. Output = 100
It is at the level where AP and MP reach the maximum

Q4. Profit gets maximised from 1 to 100 and then it starts to decrease

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