Question

In problem 2, the price of labor is $50 per day, and total fixed costs are...

  1. In problem 2, the price of labor is $50 per day, and total fixed costs are $50 per day.

  2. a.   Calculate total cost, total variable cost, and total fixed costs for each level of output.

    b.   Calculate average total cost, average fixed cost, average variable cost, and marginal cost at each level of output.

Labor
(workers per day)

Output
(boxes per day)

APL(boxes per day

MPL(boxes per day)

  1

     12

  2

24

  3

48

  4

84

  5

121

  6

192

  7

240

  8

276

  9

300

  10

312
Business   Economics   
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Homework Answers

Answer #1

a and b

APL=Q/L

MPL=Qn--Qn-1

TC=TFC=+TVC

ATC=TC/Q

AVC=TVC/Q

AFC=TFC/Q

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