ps3 - Problem Set 3 Fernando Omegna Rocha Ferreira Instead...

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Problem Set 3 Fernando Omegna Rocha Ferreira Instead of creating multiple tables, I compiled all the data in the table bellow.  All the graphics were created based on this table. An additional table was created for problem g at the bottom of the page. Journalists Product Marginal Product Total Cost Average Cost Total Cost 2 Average Cost 2 1 10 10.00 20.00 2.00 60.00 6.00 2 14 0.24 40.00 2.83 80.00 5.66 3 17 0.31 60.00 3.46 100.00 5.77 4 20 0.37 80.00 4.00 120.00 6.00 5 22 0.42 100.00 4.47 140.00 6.26 6 24 0.47 120.00 4.90 160.00 6.53 7 26 0.51 140.00 5.29 180.00 6.80 8 28 0.55 160.00 5.66 200.00 7.07 1 2 3 4 5 6 7 8 0 5 10 15 20 25 30 Chart for question (d) Column B Column C Journalists Product The chart and the table shows us that the marginal products returns are not diminishing with the increase on the number of journalists
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20.00 40.00 60.00 80.00 100.00120.00140.00160.00 0 5 10 15 20 25 30 Total product vs. Total Cost Column B Total Cost
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This note was uploaded on 08/04/2008 for the course ECON 306 taught by Professor Omar during the Spring '08 term at George Mason.

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ps3 - Problem Set 3 Fernando Omegna Rocha Ferreira Instead...

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