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1 page/β275 words
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Style:
APA
Subject:
Mathematics & Economics
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Language:
English (U.S.)
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Topic:
Economics for Policy, Planning, and Development
Other (Not Listed) Instructions:
be sure you have some econ background and then answer the questions.
Other (Not Listed) Sample Content Preview:
PPD 501A – Economics for Policy, Planning and Development
Spring 2021
Problem Set 3
Due before 6pm Mar. 4, PST
For questions that involve calculations, show your work. Be sure that you turn in your own work in your own words.Be sure that you understand how to solve or answer each question as these are the types of questions that will appear on exams.
1 (6 points) The total product schedule of Rubber Duckies, Inc., a firm making rubber boats, is described by the following:
Labor (Number of workers employed per week)
Output (rubber boats per week)
Total Cost
Total variable cost
Average total cost
Average fixed cost
Average variable cost
Marginal Cost
1
1
10400
400
10400
10000
400
--
2
3
10800
800
3600
3333
267
200
3
6
11200
1200
1867
1667
200
133
4
10
11600
1600
1160
1000
160
100
5
15
12000
2000
800
667
133
80
6
21
12400
2400
590
476
114
67
7
26
12800
2800
492
385
108
80
8
30
13200
3200
440
333
Updated on
Spring 2021
Problem Set 3
Due before 6pm Mar. 4, PST
For questions that involve calculations, show your work. Be sure that you turn in your own work in your own words.Be sure that you understand how to solve or answer each question as these are the types of questions that will appear on exams.
1 (6 points) The total product schedule of Rubber Duckies, Inc., a firm making rubber boats, is described by the following:
Labor (Number of workers employed per week)
Output (rubber boats per week)
Total Cost
Total variable cost
Average total cost
Average fixed cost
Average variable cost
Marginal Cost
1
1
10400
400
10400
10000
400
--
2
3
10800
800
3600
3333
267
200
3
6
11200
1200
1867
1667
200
133
4
10
11600
1600
1160
1000
160
100
5
15
12000
2000
800
667
133
80
6
21
12400
2400
590
476
114
67
7
26
12800
2800
492
385
108
80
8
30
13200
3200
440
333
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