Please solve Max in 30-45 minutes thank u and no reject. Please send the solution thank u... Chapter Microeconomics 1. Which one is fixed and variable input?Table 4.1 The Use of Labor, Capital, and Related OutputTotal Average MarginalProductAmount ofLabor (L) Capital (K) Output Product100021000501000150101000350151000525201000680251000800Fixed input: Capital (K)Variable input : Labor (L)

1) Fixed input is when the amount of input remains the same while variable input is when input…

1. Which one is fixed and variable input? Table 4.1 The Use of Labor, Capital, and Related Output Amount of Total Average Marginal Output Product Labor (L) Capital (K) Product 1000 1000 50 1000 150 10 1000 350 15 1000 525 20 1000 680 25 1000 800 Fixed input Variable input : Labor (L) : Capital (K)

1. Which one is fixed and variable input? Table 4.1 The Use of Labor, Capital, and Related Output Amount of Total Average Marginal Output Product Labor (L) Capital (K) Product 1000 1000 50 1000 150 10 1000 350 15 1000 525 20 1000 680 25 1000 800 Fixed input Variable input : Labor (L) : Capital (K)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Please solve Max in 30-45 minutes thank u and no reject. Please send the solution thank u... Chapter Microeconomics

1. Which one is fixed and variable input?
Table 4.1 The Use of Labor, Capital, and Related Output
Total Average Marginal
Product
Amount of
Labor (L) Capital (K) Output Product
1000
2
1000
50
1000
150
10
1000
350
15
1000
525
20
1000
680
25
1000
800
Fixed input
: Capital (K)
Variable input : Labor (L)

Study of decisions made by households and business firms at an individual level. It includes several laws and theorems related to demand, supply, production, allocation of resources, and prices.

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