Question

Use the information to complete the table. Each worker costs $12/hour and each machine costs $20/day...

  1. Use the information to complete the table. Each worker costs $12/hour and each machine costs $20/day regardless of how many chairs are produced. Suppose the factory produces chairs 8 hours/day. Complete the table below.

Wooden Chair 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

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