Your product sells for $5 per unit, labor costs $5 per unit, and the rental price of capital is $20 per unit. Complete the following table, and then answer the accompanying questions. (1) (2) (3) (4) 5 6 L K Q MPL P VMPK 0 5 0 1 5 10 2 5 30 3 5 60 4 5 80 5 5 90 6 5 95 7 5 95 8 5 90 9 5 80 10 5 60 11 5 30 Complete the above Table
Your product sells for $5 per unit, labor costs $5 per unit, and the rental price of capital is $20 per unit. Complete the following table, and then answer the accompanying questions. (1) (2) (3) (4) 5 6 L K Q MPL P VMPK 0 5 0 1 5 10 2 5 30 3 5 60 4 5 80 5 5 90 6 5 95 7 5 95 8 5 90 9 5 80 10 5 60 11 5 30 Complete the above Table
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter13: best-practice Tactics: Game Theory
Section: Chapter Questions
Problem 14E
Related questions
Question
Your product sells for $5 per unit, labor costs $5 per unit, and the rental price of capital is $20 per unit. Complete the following table, and then answer the accompanying questions.
(1) |
(2) |
(3) |
(4) |
5 |
6 |
|
L |
K |
Q |
MPL |
P |
VMPK |
|
0 |
5 |
0 |
|
|
|
|
1 |
5 |
10 |
|
|
|
|
2 |
5 |
30 |
|
|
|
|
3 |
5 |
60 |
|
|
|
|
4 |
5 |
80 |
|
|
|
|
5 |
5 |
90 |
|
|
|
|
6 |
5 |
95 |
|
|
|
|
7 |
5 |
95 |
|
|
|
|
8 |
5 |
90 |
|
|
|
|
9 |
5 |
80 |
|
|
|
|
10 |
5 |
60 |
|
|
|
|
11 |
5 |
30 |
|
|
|
|
- Complete the above Table
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