Microeconomics
21st Edition
ISBN: 9781259915727
Author: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn Dr.
Publisher: McGraw-Hill Education
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Question
Chapter 16, Problem 4DQ
To determine
Quantity of resource.
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Question 19
widget-manufacturing
The production function for a
firm is given by q = 9K0.5L0.5, where q is the number of widgets
produced each hour, K is the number of specialized staplers (which is fixed at 4 in the short run), and L is the
number of employees. What is the marginal product of labor at L = 9?
O 18
O 3
none of the above
Suppose that for a particular firm the only variable input into the production process is labor and that output equals
zero when no workers are hired. In addition, suppose that fixed cost is $130, marginal cost of each worker hired is
constant at $40, and the average total cost when three workers are hired is $50. What is the output when three workers
are hired?
O
20
120
150
The accompanying table describes the relationship between the number of workers hired by a call center each hour and the number of calls the call center can make each hour. The
call center has only 1 telephone. The telephone costs the firm $5/hour (regardless of how many calls are made), and each worker is paid $10 per hour
Calls Per Hour
1
2
6
16
O
22
24
What is the total cost of making 2 calls an hour?
Multiple Choice
O
$45
$40
$20
Number of Telephones
1
1
1
1
1
1
$10
Number of Workers Per Hour
2
4
6
8
10
12
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