Number of workers Total products Marginal product Fixed cost variable cost Marginal cost 0 0 $100 $0 1 900 $100 $100 2 1900 $100 $200 3 2400 $100 $300 (A) The highest productivity level (AP) of worker is achieved at which number of worker? Prove your opinion WIth calculation. (B) At each number of workers, calculate the marginal product (MP) and determined at which level of worker does diminishing marginal product begin? (C) Calculate the total cost used to produce 2400 units of Good Y.
Number of workers Total products Marginal product Fixed cost variable cost Marginal cost 0 0 $100 $0 1 900 $100 $100 2 1900 $100 $200 3 2400 $100 $300 (A) The highest productivity level (AP) of worker is achieved at which number of worker? Prove your opinion WIth calculation. (B) At each number of workers, calculate the marginal product (MP) and determined at which level of worker does diminishing marginal product begin? (C) Calculate the total cost used to produce 2400 units of Good Y.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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| Number of workers | Total products | Marginal product | Fixed cost | variable cost | Marginal cost |
| 0 | 0 | $100 | $0 | ||
| 1 | 900 | $100 | $100 | ||
| 2 | 1900 | $100 | $200 | ||
| 3 | 2400 |
|
$100 | $300 |
(A) The highest productivity level (AP) of worker is achieved at
which number of worker? Prove
your opinion WIth calculation.
(B) At each number of workers,
calculate the marginal product (MP) and determined at which
level of worker does diminishing
marginal product begin?
(C) Calculate the total cost used to
produce 2400 units of Good Y.
(D) Calculate the marginal cost (MC) at each level of worker
Leave answers in 2 decimal
place.
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