1). If four mechanics can fix 20 cars a day and five mechanics can fix 24 cars a

Question

1). If four mechanics can fix 20 cars a day and five mechanics can fix 24 cars a day, what is the marginal product of the fifth worker?
2). If you give up a $40,000/year salary to join the peace corpse for two years, where all costs of the trip are paid by the organization, your accounting cost of this 2 year trip would equal:
3). The cost savings of firms due to increasing the number of units of the good product is known as: Economies of scale. Diseconomies of scale. Economies of scope. Diminishing marginal returns.
4). If the total cost of three units is $40 and the total cost of four units is $50, the marginal cost of the fourth unit is?
5). Suppose Output= 100 units, fixed cost = $300, total cost = $800, and marginal cost = $60 what is the firms total variable cost?
6). Which of the following items would be considered a Sunk cost: textbook that can be resold, non refundable tuition payment, laptop that can be used for another class? (More than one) 1). If four mechanics can fix 20 cars a day and five mechanics can fix 24 cars a day, what is the marginal product of the fifth worker?
2). If you give up a $40,000/year salary to join the peace corpse for two years, where all costs of the trip are paid by the organization, your accounting cost of this 2 year trip would equal:
3). The cost savings of firms due to increasing the number of units of the good product is known as: Economies of scale. Diseconomies of scale. Economies of scope. Diminishing marginal returns.
4). If the total cost of three units is $40 and the total cost of four units is $50, the marginal cost of the fourth unit is?
5). Suppose Output= 100 units, fixed cost = $300, total cost = $800, and marginal cost = $60 what is the firms total variable cost?
6). Which of the following items would be considered a Sunk cost: textbook that can be resold, non refundable tuition payment, laptop that can be used for another class? (More than one) 1). If four mechanics can fix 20 cars a day and five mechanics can fix 24 cars a day, what is the marginal product of the fifth worker?
2). If you give up a $40,000/year salary to join the peace corpse for two years, where all costs of the trip are paid by the organization, your accounting cost of this 2 year trip would equal:
3). The cost savings of firms due to increasing the number of units of the good product is known as: Economies of scale. Diseconomies of scale. Economies of scope. Diminishing marginal returns.
4). If the total cost of three units is $40 and the total cost of four units is $50, the marginal cost of the fourth unit is?
5). Suppose Output= 100 units, fixed cost = $300, total cost = $800, and marginal cost = $60 what is the firms total variable cost?
6). Which of the following items would be considered a Sunk cost: textbook that can be resold, non refundable tuition payment, laptop that can be used for another class? (More than one)

Explanation / Answer

Ans

1 24-20=4.it is simply addition in total output due to new worker

2 zero. It does not consider implicit costs

3 economies of scale. 4

4 50-40=10.it is addition in cost by new unut

5 800-300=500 because variable cost=total cost -fixed cost

6 tuition fee and laptop

Answered all. Was required to answer only 4 parts according to Chegg policy Please like answer

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