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