Fill in the blank and explain the choice of correct answer. When the marginal product--------------------, the marginal cost--------- A) increases; increases. B) increases; remain the same. C) increases; dearases. D) remains the same; increases.
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Fill in the blank and explain the choice of correct answer.
When the marginal product--------------------, the marginal cost---------
A) increases; increases.
B) increases; remain the same.
C) increases; dearases.
D) remains the same; increases.
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- Alex is a hard-working college sophomore. One Saturday, he decides to work nonstop until he has answered 50 practice problems for his economics course. He starts work at 8:00 AM and uses a table to keep track of his progress throughout the day. He notices that as he gets tired, it takes him longer to solve each problem. Time Total Problems Answered 8:00 AM 0 9:00 AM 20 10:00 AM 35 11:00 AM 45 Noon 50 Use the table to answer the following questions. The marginal, or additional, gain from Alex’s second hour of work, from 9:00 AM to 10:00 AM, is problems. The marginal gain from Alex’s fourth hour of work, from 11:00 AM to noon, is problems. Later, the teaching assistant in Alex’s economics course gives him some advice. “Based on past experience,” the teaching assistant says, “working on 7.5 problems raises a student’s exam score by about the same amount as reading the textbook for 1 hour.” For simplicity, assume students always cover the same…What is a marginal cost? (in detail)Marginal Analysis -Definition - Explanation of the topic - Give examples - Give rules if any - Graph it
- I am trying to figure out how to do the marginal cost and how to get the total cost answers w what is provided. Thanks chapter 13 mankiwWhat is the Economic theory behind the decision at the end of the case Start with "Near Empty restaurant.Raphael is a hard-working college junior. One Tuesday, he decides to work nonstop until he has answered 100 practice problems for his math course. He starts work at 8:00 AM and uses a table to keep track of his progress throughout the day. He notices that as he gets tired, it takes him longer to solve each problem. Time Total Problems Answered 8:00 AM 0 9:00 AM 40 10:00 AM 70 11:00 AM 90 Noon 100 Use the table to answer the following questions. The marginal, or additional, gain from Raphael’s first hour of work, from 8:00 AM to 9:00 AM, is _____ problems. The marginal gain from Raphael’s third hour of work, from 10:00 AM to 11:00 AM, is _____ problems. Later, the teaching assistant in Raphael’s math course gives him some advice. “Based on past experience,” the teaching assistant says, “working on 25 problems raises a student’s exam score by about the same amount as reading the textbook for 1 hour.” For simplicity, assume students always…
- Numbers and Graphs: Chapter 01 MARGINAL COST, MARGINAL BENEFIT ($ per hour of reading per w 10 5 A 2 0 5 10 15 20 25 30 35 READING (Hours per week) 40 MC MB 45 50 Now assume that the marginal costs of reading have decreased. MC + Initial Efficient Point New Efficient Point A On the graph, shift the marginal-cost curve (an orange line) to reflect the change in the marginal costs of reading. Then use the gray point (a star symbol) to plot the new efficient point after the shift in the marginal-cost curve. Finally, use the tan area (rectangle symbols) to shade the area representing the change in net benefits associated with this decrease in the marginal cost of reading. After the decrease in the marginal cost of reading, the new efficient level of reading is benefits associated with the efficient level of reading have than it was previously. Furthermore, the net Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer…Please solve the problem of microeconomics with the full step. Im needed max in 30-60 minutes thank uJust need Q.3 And Q.4;. Asap please , vll upvote and vll share positive feedback
- Describe the process of Valuation of Benefits and Costs?Ginny is a hard-working college senior. One Sunday, she decides to work nonstop until she has answered 150 practice problems for her math course. She starts work at 8:00 AM and uses a table to keep track of her progress throughout the day. She notices that as she gets tired, it takes her longer to solve each problem. Time Total Problems Answered 8:00 AM 0 9:00 AM 60 10:00 AM 105 11:00 AM 135 Noon 150 Use the table to answer the following questions. The marginal, or additional, gain from Ginny’s second hour of work, from 9:00 AM to 10:00 AM, is problems. The marginal gain from Ginny’s fourth hour of work, from 11:00 AM to noon, is problems. Later, the teaching assistant in Ginny’s math course gives her some advice. “Based on past experience,” the teaching assistant says, “working on 52.5 problems raises a student’s exam score by about the same amount as reading the textbook for 1 hour.” For simplicity, assume students always cover the same…What is the term for what you give up to obtain an item? Question 4 options: opportunity cost implicit cost applied cost variable cost