Your product sells for $5 per unit, labor costs $5 per unit, and the rental price of capital is $20 per unit. Complete the following table, and then answer the accompanying questions. (1) (2) (3) (4) 5 6 L K Q MP L P VMPK 0 5 0 1 5 10 2 5 30 3 5 60 4 5 80 5 5 90 6 5 95 7 5 95 8 5 90 9 5 80 10 5 60 11 5 30 b. Which inputs are fixed inputs? Which are the variable inputs?c. How much are your fixed costs?

Your product sells for $5 per unit, labor costs $5 per unit, and the rental price of capital is $20 per unit. Complete the following table, and then answer the accompanying questions. (1) (2) (3) (4)...

Your product sells for $5 per unit, labor costs $5 per unit, and the rental price of capital is $20 per unit. Complete the following table, and then answer the accompanying questions.

(1)	(2)	(3)	(4)	5	6
L	K	Q	MP L	P	VMP_K
0	5	0
1	5	10
2	5	30
3	5	60
4	5	80
5	5	90
6	5	95
7	5	95
8	5	90
9	5	80
10	5	60
11	5	30

b. Which inputs are fixed inputs? Which are the variable inputs?
c. How much are your fixed costs?

Jun 10, 2022

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Your product sells for $5 per unit, labor costs $5 per unit, and the rental price of capital is $20 per unit. Complete the following table, and then answer the accompanying questions. (1) (2) (3) (4)...

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