You operate a garage. Let\'s assume there are enough tools, etc, but only one ca

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You operate a garage. Let's assume there are enough tools, etc, but only one car lift. Labor is the variable input and the numbers in the table below are the repairs per week (which is your output). Fill in the blanks For how marry workers is your output maximized? For how many workers is your output/worker maximized? What is the meaning of the marginal product of labor? For which range of workers do you experience gains from specialization and division of labor? For which range of workers do you experience diminishing marginal returns to labor? If the car lift costs (interest and depredation) S200/week and each worker earns S500 per week, what is the TC, ATC, TVC, AVC, FC, AFC for repairing 130 cars and the MC for the 130th car? Fill in the blanks: The average total product curve intersects the marginal product curve at the curve's The marginal cost curve intersects the average variable cost curve at the curve's The marginal cost curve intersects the average total cost curve at the curve's The average fixed cost is always Assume labor is the only variable input, then if the MPL increases, the must as well (you can make some alternative statements as well, but there is only one that is a "must" In the graph below you find a bunch of short run average cost curves for the production of Bourbon. Draw the long run average cost curve Why are there so many SRAC? I decided to go into organic peach farming. The table below shows my revenue and cost side... Fill in the blanks. Is this a long run or short run situation? What should I do? Explain! Now a number of new orchards enter the organic peach market. Show in a graph what will happen to the market for organic peaches Under which condition should I shut down my operations?

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