张泽华Econ 200C HW 6 - Econ 200C HW 6 Due Tuesday 1 The...

This preview shows page 1 - 4 out of 4 pages.

Econ 200C HW 6 Due: Tuesday, November 22, 2016 1. The following table shows the quantity of workers and total output for a local pizza parlor. Answer the following questions based on this table: (a) When the owner hires 4 workers, what is average product of labor (b) What is the marginal product of the fifth worker? (c) If the marginal product of the second worker is 6, what is the total number of pizzas produced when 2 workers are hired? (d) Assuming that the marginal product of the second worker is 6, with which worker hired does the law of diminishing returns set in? 1
Image of page 1

Subscribe to view the full document.

2.Explain how the events listed in (a) through (d) would affect the following costs at 1. Marginal cost (MC) 2. Average variable cost (AVC) 3. Average fixed cost (AFC) 4. Average total cost (ATC)
Image of page 2
Image of page 3

Subscribe to view the full document.

Image of page 4
  • Spring '07
  • TA
  • Marginal product, Transport Workers Union

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern