Question
Exhibit 7-3 Variable Input Fixed Input Output Marginal Physical Product of Variable Input Fixed Cost Variable...
Exhibit 7-3 Variable Input Fixed Input Output Marginal Physical Product of Variable Input Fixed Cost Variable Cost Marginal Cost (units) (units) (units) (units) (dollars) (dollars) (dollars) 0 1 0 $50 $ 0 1 1 10 A $50 $ 20 F 2 1 25 B $50 $ 40 G 3 1 45 C $50 $ 60 H 4 1 60 D $50 $ 80 I 5 1 70 E $50 $100 J Refer to Exhibit 7-3. The marginal cost figures in blanks I and J are, respectively, $5.33 and $10.00. $1.33 and $2.00. $1.33 and $1.43. $1.33 and $0.29. none of the above.
Homework Answers
Answer #1
| VI | FI | Q | MP | FC | VC | MC |
| 0 | 1 | 0 | - | $ 50 | $ 0 | - |
| 1 | 1 | 10 | 10 | 50 | 20 | 2.00 |
| 2 | 1 | 25 | 15 | 50 | 40 | 1.33 |
| 3 | 1 | 45 | 20 | 50 | 60 | 1.00 |
| 4 | 1 | 60 | 15 | 50 | 80 | 1.33 |
| 5 | 1 | 70 | 10 | 50 | 100 | 2.00 |
Correct answer is $ 1.33 and $ 2.00.
Note: I have used the following formula to determine MC
Next time onwards kindly post the table. Please.
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