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Unformatted text preview: 1. Quantity produced: a. Calculate the quantity produced (using 1 to 20 workers). b. Calculate the marginal product of labor c. Draw in a chart the total-product curve 2. Costs: a. Calculate the fixed, variable and total costs b. Draw in a chart the fixed, variable and total costs 3. Average costs: a. Calculate the average fixed, average variable and average total costs b. Draw in a chart these three costs 4. Marginal Cost: a. Calculate the marginal cost b. Draw in a chart the marginal and average total costs c. Where the both curves meet each other?...
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This note was uploaded on 03/30/2012 for the course ECON 2302 taught by Professor Love during the Fall '08 term at Lone Star College.
- Fall '08