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Unformatted text preview: variable costs sr average total costs sr marginal costs Econ 101-Spring 2003-Wissink PS#5-XtraQ ANSWERS Listed below are essentail pieces of production information for Jonathan's Apple Farm. Find the following: 1. The average product of labor in the produciton of apples. 2. The marginal product of labor in the production of apples. Now use the cost information below, along with the product information above to get the following short run costs: 3. fixed costs of apple production 4. variable costs of apples production 5. short run total costs of apple production 6. average fixed costs of apple production 7. average variable costs of apple production 8. short run average total costs of apple production 9. short run marginal costs of apple production...
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This note was uploaded on 03/27/2009 for the course ECON 1110 taught by Professor Wissink during the Fall '06 term at Cornell University (Engineering School).
- Fall '06