Economic Hoemwork

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1 unskilled Technician machinist skill electrician

Q 100 80 30 40

lights( MP) 400 450 550 600

$ 400 500 700 750

cost 40000 40000 21000 30000

TRP 4000 4500 5500 6000

Recommendations can make to assist the company is the skill electrician provide more effectively productivity. Unit of output the company can produce for skill technician more higher compare to others The monetary costs of employing is lower for skill technician compare to others. Assuming price is 10 per light, Skill electrician bring the company earn more revenue. The most important input is labor , The more skill electrician the more productivty will be produce. Q= 6 L2- 0.4L3 (a) (b) L2 L3 APL 2 Q Q product MPL 2 4 8 20.8 0 10.4 4 16 64 70.4 24.8 17.6 6 36 216 129.6 29.6 21.6 8 64 512 179.2 24.8 22.4 10 100 1000 200 10.4 20 12 144 1728 172.8 -13.6 14.4 14 196 2744 78.4 -47.2 5.6 16 256 4096 -102.4 -90.4 -6.4

3

Crew Size (workers) 2 3 4 5 6 7 8 9 10 11 12

Amount of Fish Caught 3 6 11 19 24 28 31 33 34 34 33

Q 0 1 1 1 1 1 1 1 1 1 1

P 0 3 5 8 5 4 3 2 1 0 -1

MPL 3 5 8 5 4 3 2 1 0 -1

APL 1.5 2 2.75 3.8 4 4 3.875 3.666667 3.4 3.090909 2.75

OBS 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

MR=output Capital Labor TC MC AVC 18891 700.2 19591.2 19591.2 605.3 19201 651.8 19852.8 261.6 9926.4 566.1 20655 822.9 21477.9 1625.1 7159.3 647.1 15082 650.3 15732.3 -5745.6 3933.075 523.7 20300 859 21159 5426.7 4231.8 712.3 16079 613 16692 -4467 2782 487.5 24194 851.3 25045.3 8353.3 3577.9 761.6 11504 655.4 12159.4 -12885.9 1519.925 422.5 25970 900.6 26870.6 14711.2 2985.622 821.1 10127 550.4 10677.4 -16193.2 1067.74 397.8 25622 842.2 26464.2 15786.8 2405.836 896.7 359.3 979.1 331.7 1064.9 12477 24002 8042 23972 540.5 949.4 575.7 925.8 13017.5 24951.4 8617.7 24897.8 -13446.7 1084.792 11933.9 1919.338 -16333.7 615.55 16280.1 1659.853

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