Clancy is a hard-working college senior. One Sunday, he decides to work nonstop until he has answered 100 practice problems for his economics course. He starts work at 8:00 AM and uses a table to keep track of his progress throughout the day. He notices that as he gets tired, it takes him longer to solve each problem. Time Total Problems Answered 8:00 AM 0 9:00 AM 40 10:00 AM 70 11:00 AM 90 Noon 100 The marginal, or additional, gain from Clancy’s first hour of work, from 8:00 AM to 9:00 AM, is problems.

Clancy is a hard-working college senior. One Sunday, he decides to work nonstop until he has answered 100 practice problems for his economics course. He starts work at 8:00 AM and uses a table to keep track of his progress throughout the day. He notices that as he gets tired, it takes him longer to solve each problem. Time Total Problems Answered 8:00 AM 0 9:00 AM 40 10:00 AM 70 11:00 AM 90 Noon 100 The marginal, or additional, gain from Clancy’s first hour of work, from 8:00 AM to 9:00 AM, is problems.

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter8: Production And Costs

Section8.4: Costs Of Production: Total, Average, Marginal

Problem 4ST

See similar textbooks

Time	Total Problems Answered
8:00 AM	0
9:00 AM	40
10:00 AM	70
11:00 AM	90
Noon	100

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Complete the table below: Output TotalCost(RM) Totalvariablecost(RM) Totalfixedcost(RM)Averagefixedcost(RM)Averagetotalcost(RM)Marginalcost (RM) 0 505 16010 20020 25036 33058 40072 48088 580106 700130 820150 980
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Suppose that Jacques is a diligent hard-working third-year college student. One Saturday, he decides to start the day by working through 150 practice problems to study for the computer science class. Using a table to track his progress throughout the day, he notices that as the hours pass, it takes him longer to solve the problems. Time Total Problems Solved 7:00 AM 0 8:00 AM 60 9:00 AM 105 10:00 AM 135 11:00 AM 150 Use the table to answer the following questions. The marginal, or additional, gain from Bella’s first hour spent working, from 7:00 AM to 8:00 AM, is problems. The marginal gain from Bella’s third hour spent working, from 9:00 AM to 10:00 AM, is problems. The following week, Bella’s computer science.