Review Assessment Chapter 8

Review Assessment Chapter 8 - MGE302A:APPLIED...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: MGE302A:APPLIED ECONOMICS:200909444426 (200909_444426_COMB) > TOOLS > MY GRADES > VIEW ATTEMPTS > REVIEW ASSESSMENT: CHAPTER 8 Review Assessment: Chapter 8 User Submitted 10/19/09 7:50 PM Name Chapter 8 Status Completed Score 5 out of 5 points Instruction s Be sure to fully and correctly spell out words for the fill in the blank questions. Only abbreviate if it is a commonly known abbreviation: i.e., MR = Marginal Revenue, MC = Marginal Cost. For calculated answers to do not include dollar signs ($) or commas (,) in your answer. i.e., an answer of $1,000 would be input as 1000. Convert any fractional answer to a decimal and round to two decimal places (always include two decimals even if the last digit is a zero). If the fraction is less than 1 include the 0 to the left of the decimal. i.e., an answer of 2/3 would be input as 0.67; an answer of 3/2 would be input as 1.50. Unless the question asks for the absolute value maintain the negative sign if the calculation results in a negative value. Do not put a space between the negative sign and the number. Question 1 0.5 out of 0.5 points The table below shows the weekly relationship between output and the number of workers for a factory with a fixed size of plant. Calculate the Marginal Product of Labor for each worker. Round all figures to the closest digit, do not include any decimal places, if the calculated value is negative, include the negative sign with no space between the negative sign and the number. Number of Workers Output 1 50 2 110 3 300 4 450 5 590 6 665 7 700 8 725 9 710 10 705 Specified Answer for: ___Blank_1___ Specified Answer for: ___Blank_2___ Specified Answer for: ___Blank_3___ Specified Answer for: ___Blank_4___ Specified Answer for: ___Blank_5___ Specified Answer for: ___Blank_6___ Specified Answer for: ___Blank_7___ Specified Answer for: ___Blank_8___ Specified Answer for: ___Blank_9___ Specified Answer for: ___Blank_10___ Correct Answers for: ___Blank_1___ Correct Answers for: ___Blank_2___ Correct Answers for: ___Blank_3___ Correct Answers for: ___Blank_4___ Correct Answers for: ___Blank_5___ Correct Answers for: ___Blank_6___ Correct Answers for: ___Blank_7___ Correct Answers for: ___Blank_8___ Correct Answers for: ___Blank_9___ Correct Answers for: ___Blank_10___ Question 2 0.5 out of 0.5 points The table below shows the weekly relationship between output and the number of workers for a factory with a fixed size of plant. Calculate the Average Product of Labor for each worker. (The table is the same as the one used in Question 1) Round all figures to the closest digit, do not include any decimal places, if the calculated value is negative, include the negative sign with no space between the negative sign and the number....
View Full Document

Page1 / 36

Review Assessment Chapter 8 - MGE302A:APPLIED...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online