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
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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

 

 

 

 

 

  1. Complete the above Table
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