Chapter 5, Technical Question 1 and 5 in the textbook.

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1. The following table shows data for a simple production function.

 

Capital (K)      Labor (L)         Total                 Average             Marginal

                                            Product (TP)        Product (AP)     Product (MP)

         10                 0                  0                             —                          —

         10                 1                  5

         10                 2                 15

         10                 3                 30

         10                 4                 50

         10                 5                 75

         10                 6                  85

              10                           7                           90

              10                            8                            92

              10                            9                            92

              10                           10                           90

a. From the information in the  table, calculate marginal and average products.

b. Graph the three functions (put total product on one graph and marginal and average products on another).

c. For what range of output does this function have diminishing marginal returns?

d. At what output is average product maximized?

 

5. The following table shows data for the simple production function used in Question 1. Capital costs this firm $20 per unit, and labor costs $10 per worker.

K          L        TP          TFC      TVC       TC      AFC    AVC    ATC     MC

10        0         0

10        1         5

10        2        15

10        3        30

10        4        50

10        5        75

10        6        85

10        7        90

10        8        92

 

a. From the information in the table, calculate total fixed cost (TFC), total variable cost (TVC),total cost (TC), average fixed cost (AFC), average variable cost (AVC), average total cost (ATC), and marginal cost (MC).

b. Graph your results, putting TFC, TVC, and TC on one graph and AFC, AVC, ATC, and MC on another.

c. At what point is average total cost minimized?

 

At what point is average variable cost minimized?

Assignment Type: Individual Project Deliverable Length: 2 -3 Pages Points Possible: 145 Due Date: 4/15/2012 11:59:59 PM CT You have probably noticed in your educational career that some people are very good at remembering facts and therefore do well at tests that require memorization. Other students, on the other hand, struggle with tests that require memorization. To understand how memory works, this exercise will ask you to trace the memory system – from the stimuli to long-term memory. Use your text book and research from the Internet to learn the process of memory – from beginning to end. Your description should include the following: Identification and description of each step in the human memory model. As you describe these steps, use an example to illustrate the process. Discussion of factors that enhance or impede information flow in each step of the process Explanation of proactive and retroactive interference and how you might counteract their effects while studying in order to facilitate maximum retention via long-term memory Explanation of other kinds of forgetting and a discussion of strategies that can improve memory consolidation and retrieval This assignment will also be assessed using additional criteria provided here. Submit this in the form of a 2 -3 page paper. You can use illustrations to demonstrate the process. Be sure to document your references using the APA format

What is the area of a circle with a ling going stright threw it with the number 10 on the line

Is 0.000003 greater than or less than 0.000015