Consider a firm that has just built a plant, which cost $1,000. Each worker costs $5.00 per hour. Based on this information, fill in the table below
Number of Worker Hours Output Marginal Product Fixed Cost Variable Cost Total Cost Marginal Cost Average Variable Cost Average Total Cost
0 0 -- -- --
50 400
100 900
150 1300
200 1600
250 1800
300 1900
350 1950
Number of Worker Hours Output Marginal Product Fixed Cost Variable Cost Total Cost Marginal Cost Average Variable Cost Average Total Cost
0 0 -- 1,000 0 1,000 -- -- --
50 200 4 1,000 250 1,250 1.25 1.25 6.25
100 700 10 1,000 500 1,500 0.50 0.7143 2.1429
150 1400 14 1,000 750 1,750 0.3571 0.5357 1.25
200 1650 5 1,000 1000 2,000 1 0.6061 1.2121
250 1800 3 1,000 1250 2,250 1.6667 0.6944 1.25
300 1900 2 1,000 1500 2,500 2.50 0.7895 1.3158
350 1975 1.5 1,000 1750 2,750 3.3333 0.8861 1.3924
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Nations that borrow from abroad to support current consumption
A) will always be better off in the future. B) may sacrifice future consumption. C) will always sacrifice future consumption. D) will always sacrifice current consumption.
Which of the following is not an example of a country's infrastructure?
a. Educational system b. Political system c. Communications system d. Transportation system