ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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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)
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Transcribed Image Text: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)
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