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- A company producing two different goods of quantities m and nSoftware Economicsplease answer briefly and quickly 10. The number of Manpower required for a software project in terms of time to complete. Is called a. Development Effort b. Cost Estimation c. Effort d. Resources 11. Software is specially made by a specific customer to meet their own need. Is called? a. None of the answers b. Generic Product c. Analysed Product d. Customized ProductWhat are different types of costs involved in production of goods and services? Analyze the relationship between cost and productivity in the short run.
- I need short answers for the question attached. The question is also related to graph that I attached too. Please show the work. Thanks!Write a word or term that governs the following 1. are benefits given to the firm that originate from outside the firm. 2. exist when costs fall with larger size firm for technical and engineering reasons. 3. result from the way that larger firms can employ specialized workers.A firm produces good Y with just 2 factors: Capital which is fixed in supply and labour which is variable. Labour (units) 1 4 5 7 8 9 Total Product 8 15 24 30 35 37 38 38 36 (TP) in Units Average Product (AP) in units Marginal Product (MP) in units a) Fill in the values of AP and MP. b) Sketch TP, AP and MP in one diagram. c) Identify the stages of production in the diagram. d) Explain why the firm still hire labour even though it is in the range of diminishing returns? e) What is the number of workers after which diminishing marginal returns starts?. f) Is this a short run or long run phenomenon? Question 2 The table below shows the average cost (AC) for a purely competitive market. The average revenue (AR) is constant at RM5 per unit and the firm's total fixed cost (TFC) is RM4. Output (Units) Average Cost (RM) Marginal Cost (RM) Total Total Cost Marginal Revenue (RM) Revenue (RM) (RM) 8.0 2 5.5 3 4.0 4 3.5 3.8 6 4.5 7 6.0 a) Fill in the values for total revenue (TR), total cost (TC)…