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24 12 If the price of a telephone increases from $5 to $10 an hour and nothing else changes, then

24 12 If the price of a telephone increases from $5 to $10 an hour and nothing else changes, then

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The accompanying table describes the relationship between the number of workers hired by a call center each hour and the number of calls the call center can make each hour. The call center has only 1 telephone. The telephone costs the firm $5/hour (regardless of how many calls are made), and each worker is paid $10 per hour. Calls Per Hour Number of Telephones Number of Workers Per Hour 1 1 2 1 4 1 16 1 8 22 1 10 24 1 12 If the price of a telephone increases from $5 to $10 an hour and nothing else changes, then
Transcribed Image Text:The accompanying table describes the relationship between the number of workers hired by a call center each hour and the number of calls the call center can make each hour. The call center has only 1 telephone. The telephone costs the firm $5/hour (regardless of how many calls are made), and each worker is paid $10 per hour. Calls Per Hour Number of Telephones Number of Workers Per Hour 1 1 2 1 4 1 16 1 8 22 1 10 24 1 12 If the price of a telephone increases from $5 to $10 an hour and nothing else changes, then
Multiple Choice total cost would not change. marginal cost would increase by S5 at every level of output. marginal cost would not change. average total cost would increase by $5 at every level of output.
Transcribed Image Text:Multiple Choice total cost would not change. marginal cost would increase by S5 at every level of output. marginal cost would not change. average total cost would increase by $5 at every level of output.
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