At Stacy's current production level, an extra bunch of hats adds 20 extra scarves. Each bunch of hats costs $53. What is Stacy's Marginal Cost of an extra scarf?
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At Stacy's current production level, an extra bunch of hats adds 20 extra scarves. Each bunch of hats costs $53. What is Stacy's Marginal Cost of an extra scarf?
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- At Stacy's current production level, an extra bunch of scarves adds 20 extra hats. Each bunch of scarves costs $53. What is Stacy's Marginal Cost of an extra hat?At Yennefer's current production level, a extra bunch of herbs adds 24 extra spells. Each bunch of herbs costs $61. What is Yennefer's Marginal Cost of an extra spell?At Yennefer's current production level, a extra bunch of herbs adds 19 extra spells. Each bunch ofherbs costs $54. What is Yennefer's Marginal Cost of an extra spell?
- Please no written by hand and no image Xena has a small copy shop with one copying machine. Xena hires a worker, who increases output by pages (from 0 to ). She adds a second worker, who increases output by only pages (from to ). Part 2 If she added a third worker, holding the number of copiers fixed, her output would increase by fewer than enter your response here pagesAt an output level of 99, what is the cost minimizing combination of Labor and Kapital? At an output level of level of 154, what is the cost minimizing level of Labor and Kapital If the price of the product is $2.00, what is the profit maximizing combination of Labor and Kapital? What is the total profit?The marginal cost of producing the xth box of lightbulbs is 4+x^2/1,000 dollars per box. Determine how much is added to the total cost by a change in production from x=30 to x=90 boxes. 
- Con Co. produces a collectible card game. Currently, the price of capital is at $50 and the price of labor is at $10. The marginal product of capital is 200 and the marginal product of labor is 30. To minimize cost of the given output, Con Co. should Use more capital Use more capital and labor Leave capital and labor as is Use more laborThere are two factors of production, X and Y. They are being used to produce a fixed amount of output called A. If the amount of output, A is held constant, and the isoquants are convex, would the price of X going down always mean less of Y is used? Explain why or why not by explaining through the use of a graph.According to a firm’s technology of production, you can take away 3 units of labor if you add 5 units of capital without changing production. The price of labor is $8 and the price of capital is $6. Assuming the firm’s MRTS is diminishing, this firm a. is minimizing cost at its current output level. b. should use more capital and less labor to lower the cost of producing its current output. c. should use less capital and more labor to lower the cost of producing its current output. d. should use less capital and less labor to lower the cost of producing its current output. e. None of above.
- Sam Malone is considering renovating the bar stools at Cheers.The production function for new bar stools is given byq = 0.1k 0.2l0.8 where q is the number of bar stools produced during the renovation week, k represents the number of hours of bar stoollathes used during the week, and l represents the number ofworker hours employed during the period. Sam would like toprovide 10 new bar stools, and he has allocated a budget of$10,000 for the project.a. Sam reasons that because bar stool lathes and skilled barstool workers both cost the same amount ($50 per hour),he might as well hire these two inputs in equal amounts.If Sam proceeds in this way, how much of each input willhe hire and how much will the renovation project cost?b. Norm (who knows something about bar stools) arguesthat once again Sam has forgotten his microeconomics.He asserts that Sam should choose quantities of inputs sothat their marginal (not average) productivities are equal.If Sam opts for this plan instead, how much of…Consider the following information regarding PriorityShoes, the athletic shoe company that has production plants in Mexico and China. Mexico: Marginal Product of labor = 12, Wage rate = $2 China: Marginal Product of labor = 8, Wage rate = $1 In accordance with profit maximization, what should PriorityShoes do?“Drones are Troy’s favourite electronic therefore the law of diminishing marginal does not apply”. Do you agree with this statemen
