After a campus pub increases its output from 3 kegs of beer per day to 11 kegs of beer per day, its total resource cost increases from $135 per day to $550 per day. Instructions: Enter your answers rounded to two decimal places. a. What is the marginal resource cost per day of the additional kegs? 2$ ɔ. Assuming the pub is using its resources in a profit-maximizing way, what is the marginal revenue product per day of the additional kegs?

After a campus pub increases its output from 3 kegs of beer per day to 11 kegs of beer per day, its total resource cost increases from $135 per day to $550 per day. Instructions: Enter your answers rounded to two decimal places. a. What is the marginal resource cost per day of the additional kegs? 2$ ɔ. Assuming the pub is using its resources in a profit-maximizing way, what is the marginal revenue product per day of the additional kegs?

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter22: Supply: The Costs Of Doing Business

Section: Chapter Questions

Problem 14E

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