1. Exactly double its inputs.

104. Refer to Scenario 3. Which of the following combinations of inputs is on the isoquant to produce 400 units of output? L = 100, K = 100

Short-Answer PROBLEMS

105. Complete the following table:

	Total	Variable	Fixed	Marginal
Output	Cost	Cost	Cost	Cost
0	50
1	60
2	75
3	100
4	150
5	225
6	400

Solution:

	Total	Variable	Fixed	Marginal
Output	Cost	Cost	Cost	Cost
0	50	0	50	–
1	60	10	50	10
2	75	25	50	15
3	100	50	50	25
4	150	100	50	50
5	225	175	50	75
6	400	350	50	175

106. Complete the following table:

	Total	Variable	Fixed	Marginal
Output	Cost	Cost	Cost	Cost
0			60
1		10
2	90
3				20
4		80
5	180
6				50

Solution:

	Total	Variable	Fixed	Marginal
Output	Cost	Cost	Cost	Cost
0	60	0	60	–
1	70	10	60	10
2	90	30	60	20
3	110	50	60	20
4	140	80	60	30
5	180	120	60	40
6	230	170	60	50

107. Complete the following table (round each answer to the nearest whole number):

	Total	Variable	Fixed	Marginal	Average	Avg. Var.	Avg. Fixed
Output	Cost	Cost	Cost	Cost	Cost	Cost	Cost
0	30
1	35
2	60
3	110
4	200
5	320
6	600

Solution:

	Total	Variable	Fixed	Marginal	Average	Avg. Var.	Avg. Fixed
Output	Cost	Cost	Cost	Cost	Cost	Cost	Cost
0	30	0	30	–	–	–	–
1	35	5	30	5	35	5	30
2	60	30	30	25	30	15	15
3	110	80	30	50	37	27	10
4	200	170	30	90	50	43	8
5	320	290	30	120	64	58	6
6	600	570	30	280	100	95	5

108. Complete the following table (round each answer to the nearest whole number):

	Total	Variable	Fixed	Marginal	Average	Avg. Var.	Avg. Fixed
Output	Cost	Cost	Cost	Cost	Cost	Cost	Cost
0
1				5
2					30
3						13
4	105						10
5		110
6				50

Solution:

	Total	Variable	Fixed	Marginal	Average	Avg. Var.	Avg. Fixed
Output	Cost	Cost	Cost	Cost	Cost	Cost	Cost
0	40	0	40	–	–	–	–
1	45	5	40	5	45	5	40
2	60	20	40	15	30	10	20
3	79	40	40	19	26	13	13
4	105	65	40	26	26	16	10
5	150	110	40	45	30	22	8
6	200	160	40	50	33	27	7

109. Trisha believes the production of a dress requires 4 labor hours and 2 machine hours to produce. If Trisha decides to operate in the short run, she must spend $500 to lease her business space. Also, a labor hour costs $15 and a machine hours costs $35. What is Trisha's cost of production as a function of dresses produced?

Solution: Since the production of a dress requires spending $60 for labor and $70 for machine hours, Trisha's cost function is:

110. A firm's total cost function is given by the equation:

TC = 4000 + 5Q + 10Q².

(1) Write an expression for each of the following cost concepts: