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InshAllah will try my best to solve them
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100 workers TC = 100x400=40,000
cool can u help me with the other doubts posted above ^^100 workers TC = 100x400=40,000
101 workers TC=101x405 = 40905
so MC is the extra cost . Extra cost here is 40905-40000=905
its not C bcz any point on the lowest of the A curve is prod efficiencymore and more questions for you to tackle
View attachment 44444
ans is B
why not C, productive eff means lowest point on AC curve right?
but in the cie endorsed textbookits not C bcz any point on the lowest of the A curve is prod efficiency
examiners report says this
View attachment 44446
thats wrong , book published date less than 2009 don think u vll lose bcz in example candidate respons also students had written dat and no comments for thatbut in the cie endorsed textbook
for prod efficinecy to take place, they should with the firms cost curves, and the lowest curve should be chosen , and then the lowest point on that curve should be the point which is also technical efficency
and i wrote that in the exam for efficiency question, ill lose marks for that?
MPP/price = best
it should be more than one to be the best?MPP/price = best
so both less than 1 that is the price , so discontinue both
ya , 2/5 is less than 1 , and 8/10 is less than 1it should be more than one to be the best?
if government imposes idirect tax supply will decrease increasing the price further so they will encourage mc pricing i.e price is equal to mc so that allocatve and productovely is there
productive effieciency means whch ever output is produced prodnuce it wth a lower possible cost here also X is the minimum cost so B because they can decrease cost further by producing moremore and more questions for you to tackle
View attachment 44444
ans is B
why not C, productive eff means lowest point on AC curve right?
simple logic here to employ extra u will pay him 405 dud to whch u must increase the wage rate by 5 for all previous workers as well 100 x5=500 so 500 plus 405=905
price is 1 cost is 5 and 10 respectively
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