Question

Naomi pays ​$110 a day for equipment and ​$100 a day to each student she hires. The table shows Naomi's total product schedule. Calculate Naomi's average fixed​ cost, average variable​ cost, average total​ cost, and marginal cost and complete

Labor ​(workers per​ day)	Total product ​(boardsboards per​ day)	Average fixed cost	Average variable cost	Average total cost	Marginal cost ​(dollars per boardboard​)
		​(dollars per boardboard
1	28	NEED	NEED	NEED
					NEED
2	64	NEED	NEED	NEED
					NEED
3	108

Answer 1

Labor	Total	Average fixed	Average variable cost	Average total	Marginal
​(workers per​ day)	product	cost		cost	cost
	​(boardsboards				​(dollars per
	per​ day)	​(dollars per boardboard			boardboard​)
1	28	110/28 = 3.93	100*1/28 = 3.57	3.93+3.57 = 7.5
					64*4.84-28*7.5 = 100
2	64	110/64 = 1.72	100*2/64= 3.13	1.72+3.13 = 4.84
					108*3.8 - 64*4.84 = 100
3	108	110/108 = 1.02	100*3/108 = 2.78	1.02+2.78 = 3.8