If the production function function y = 2x at an input price Of (DR. 300 and a fixed cost of IDR. 5000 and an Output price of 10R-500. find: MPP, APP, AVC, AC, MC, AVP. MVP, MFC. describe the maximization of profit using the principle MVP = MFC or MR = MC

If the production function function y = 2x at an input price Of (DR. 300 and a fixed cost of IDR. 5000 and an Output price of 10R-500. find: MPP, APP, AVC, AC, MC, AVP. MVP, MFC. describe the maximization of profit using the principle MVP = MFC or MR = MC

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 34CTQ: What is the relationship between marginal product and marginal cost? (Hint: Look at the curves.) Why...

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Question

If the production function
y =
0.5
= 2x
at an input price
Of (DR. 300 and a fixed cost of IDR-5000 and
an
Output price of 10R-500-
find : MPP, APP, AVC, AC, MC, AVP. MVP, MFC.
describe the maximization of profit using the principle
MVP = MFC or MR = MC

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