The corresponding table shows the production and cost information for a perfectly competitive firm that produces anvils.
What is the price of each anvil?
able[[ able[[Quantity],[produced]], able[[Total],[cost]], able[[Total],[revenue]], able[[Number],[of workers]]],[5,20,12.5,1],[10,30,25,2],[22,43,55,3],[32,59,80,4],[40,78,100,5],[47,90,117.5,6],[53,115,132.5,7],[58,143,145,8],[64,174,160,9]]
Assume the company currently employs 6 workers. If they add one worker so that they have 7 workers, what is the additional worker's marginal (physical) product?
price per anvil: $
able[[,47,90,117.5,6],[,53,115,132.5,7],[58,143,145,8,],[currently employs 6 workers. If they,64,174,160,9]]
marginal product of labor: units
Assume the company currently employs 3 workers. If they add one worker so that they have 4 workers, what is the
Quantity produced 5 10 22 32
Total cost 20 30 43 59 78 90 115
Total
Number of workers
The corresponding table shows the production and cost information for a perfectly competitive firm that produces anvils.
revenue
12.5 25
1 2 3 4 5 6 7 8 9
55
What is the price of each anvil?
80
A
40 47 53 58 64
100
117.5
price per anvil:$
132.5 145 160
143 174
Assume the company currently employs 6 workers.If they add one worker so that they have 7 workers, what is the
additional worker's marginal(physical) product?
marginal product of labor:
units
Assume the company currently employs 3 workers. If they add one worker so that they have 4 workers,what is the