Price per unit (OMR) Shoe sales per week 60 100 50 200 40 300 30 400 20 500 10 600 Consider a firm uses only labor as a variable factor of production in the short run, with the help of a example in the tabular form to express the marginal costs, marginal revenue and output levels where the firm maximizes profit. Draw a diagram corresponding to the table.

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A: C’ (q 0) is the marginal cost for any q 0. The line t 2 has slope twice than that of line t 1.

Q: g. What is the marginal cost of producing the 10th high-end meal box? h. Find the quantity of output…

A: g) Cost function is given as   MC at the 10th high-end meal box will be

Q: Capital (K) Labor (L) Output (q) 8 0 0 8 1 6 8 2 13.5 8 3 23.5 8 4 31 8 5 37 8 6 42 8 7 46 8 8 49 8…

A: Given information

Q: 5. Refer to the information provided in the following figure, If this firm's cost of labor is $10…

A: Total cost is the cost incurred for the production of goods and services.  TC = wL + rK

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Q: 1. Provide a diagram of what happens to the unit cost of production when economies of scale are…

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Q: The table below shows the cost data of a furniture manufacturer named Cindy's Custom Made. a)…

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Q: 3 When the inputs price ratio (sliope of cost line) is greater than the MRTS, (MPK/PK > MPL/PL) the…

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Q: .Answer the following given the information below and Product price $2.50, Labor cost = $15, Capital…

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A: * SOLUTION :-    Given that ,

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Q: a. Under autarky (in absence of trade), a unit cost of labor (w) is $40 and a unit cost of capital…

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Q: 600                 2100                 2500                 2600…

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Q: Suppose that Maria is starting a food ordering and delivery company. Customers order meals online.…

A: Marginal productivity of labor can be defined as the increase in the total production of a company…