Production/Cost Exercises
1. The following is a short-run production table for a firm with
labor as its only variable input.
Wage = $ 200
Capital = 100 units
Capital Price= $40
Product Price= $120
Labor
Output
0
0
1
50
2
110
3
160
4
200
5
230
6
250
7
260
8
265
9
260
10
250
a. Determine the following measures at all levels of
output:
MPL, APL, TFC, TVC, TC, TR, AVC, ATC, AFC, MC, PROFIT
b....