Question
Suppose that the cost of a worker is $100 per day, and the cost of machines...
Suppose that the cost of a worker is $100 per day, and the cost of machines is $200 per day. Calculate the average costs at each output level. Are your AC numbers consistent with your answer from part (a)? Justify your answer and provide a clear explanation.
The table below provides production data at Widget factory.
|
# of Workers |
# of Machines |
Output per day |
|
2 |
4 |
100 |
|
4 |
8 |
250 |
|
6 |
12 |
400 |
|
8 |
16 |
550 |
|
10 |
20 |
650 |
|
12 |
24 |
725 |
Homework Answers
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Similar Questions
he table below provides production data at Widget factory. # of Workers # of Machines Output...
he table below provides production data at Widget factory.
# of Workers
# of Machines
Output per day
2
4
100
4
8
250
6
12
400
8
16
550
10
20
650
12
24
725
a. Over which levels of output are there increasing returns to
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Number
of
Machines
Output
(chairs
produced
per hour)
Marginal
Product of
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Cost of
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Cost of
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Total
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1
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5
2
2
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3
2
20
4
2
35
5
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55
6
2
70
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2...
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Output (units per day)
Total fixed cost ($ per day)
Total variable cost ($ per day)
Total cost ($ per day)
0
0
50
0
50
1
8
50
25
75
2
12
50
50
100
3
20
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75
125
4
25
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150
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125
175
What is the...
LeBron Factory Number of Workers Number of Machines Output (chairs produced per hour) Marginal Product of...
LeBron
Factory
Number
of
Workers
Number
of
Machines
Output
(chairs
produced
per hour)
Marginal
Product of
Labor
Cost of
Workers
Cost of
Machines
Total
Cost
?1
?2
?5
?2
?2
?10
?3
?2
?20
?4
?2
?35
?5
?2
?55
?6
?2
?70
?7
?2
?80
Refer to Table above.
First, complete the missing information in the Table
above.
1.Each worker at the
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$10.86 ...
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3 190 c
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Output
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24
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192
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