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c. Does the firm operate in the short run or long run? Why?
d. What is the efficient scale of the firm?
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- 1 2 WN 3 4 5 6 7 8 9 WN=86 10 11 12 A B Capital (K) 1 1 1 1 1 1 1 1 1 1 с Labor (L) 1 AWNP 2 3 4 5 6 7 8 9 10 Total Product (TP) 10 Average Product (AP) 10 12.33 12.25 == 10.67 9.57 8.38 5.8 22 37 58 64 67 E 64 F Marginal Product (MP) 10 12 12 9 3 -3 -6 G 13 14 a. Complete the table above (SHOW FORMULAS USING EXCEL) 15 b. Create the graph of Total Product, Average Product, and Marginal Product as a function of Labor (SHOW STEP BY STEP PROCESS USING EXCEL) 16Engineering Economics1CIS 360 - Business Database Concepts – DB Design The following spreadsheet is a sample that is currently being used to track company data. However, employees have been complaining about the amount of maintenance needed to sustain the data. EMP_NAME PROJ_NUM PROJ_NAME EMP_NUM 1 Hurricane JOB_CODE JOB_CHG_HOUR PROJ_HOURS EMP_PHONE 101 John D. Newson EE 85.00 13.3 653-234-3245 1 Hurricane 105 David F. Schwann CT 60.00 16.2 653-234-1123 1 Hurricane 110 Anne R. Ramoras CT 60.00 14.3 615-233-5568 2 Coast 101 John D. Newson EE 85.00 19.8 653-234-3254 2 Coast 108 June H. Sattlemeir EE 85.00 17.5 905-554-7812 3 Satellite 3 Satellite 3 Satelite 110 Anne R. Ramoras CT 62.00 11.6 615-233-5568 105 David F. Schwann CT 26.00 23.4 653-234-1123 123 Mary D. Chen EE 85.00 19.1 615-233-5432 3 Satellite 112 Allecia R. Smith BE 85.00 20.7 615-678-6879 1. List the issues that will arise by using this as a way to store and maintain company data. Use the actual data as examples in your explanation. 2. Create a…
- please fast 16.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…The ciange in revenueleamed by the business as it employees an additional nit of an input holding otier resource use constant is: (a) Fhe Marginal physical product fb) Fhe Total physical product.- (c) The Average physicał product OThe Marginal value product