Question
Firm Alpha currently employs 8 workers and 5 stamping machines to produce 10 gizmos each day....
Firm Alpha currently employs 8 workers and 5 stamping machines
to produce 10 gizmos each day. In the short-run, Alpha is unable to
vary its number of stamping machines, but can vary the number of
workers. The daily wage rate is $50 per worker and the daily rental
rate for each stamping machine is $30. What is Firm Alpha's
short-run total cost of producing 10 gizmos per day?
Select one:
a. none of the above
b. $550 variable cost
c. $400 variable cost plus $150 fixed cost
d. $150 variable cost plus $400 fixed cost
Homework Answers
Answer #1
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