which of these is false; if a reaction is spontaneous then the activation energy may be low if a reaction is spontaneous then the activation energy
October 19, 2020
International Business (3 case studies)
October 19, 2020

Help with microeconomics

Sullivan’s Custom Cabinets operate in a perfectly competitive market and employs labor and capital. Labor costs $30 a day. Machines cost $36 a day. Currently, Sullivan’s has six machines and the marginal revenue product of capital is $30. Output sells at $5 per unit. Sullivan’s hires you as a consultant and provides you with the following production function.

Workers (days)

Total Output

1

9

2

17

3

24

4

30

5

35

6

39

7

42

1.  Explain, in your own words, the meaning of MRP.

2.  How is MRP computed?

3.  Using the data presented, in the short run, how many workers would you recommend Sullivan’s hire per day to maximize profits?

4.  Explain how you arrived at this number.

The post Help with microeconomics first appeared on https://nursingcoursework.org.


Help with microeconomics was first posted on October 19, 2020 at 1:14 am.
©2019 "Submit Your Assignment". Use of this feed is for personal non-commercial use only. If you are not reading this article in your feed reader, then the site is guilty of copyright infringement. Please contact me at support@nursingcoursework.org

 

"Is this question part of your assignment? We Can Help!"

Essay Writing Service