A county government hires lawyers to defend itself in lawsuits. The local government provides its legal staff with an office building. The table below shows how many cases can be handled with different numbers of lawyers over the course of a year. Lawyers Office Buildings Cases 1 2 14 3 1 18 4 20 21 Suppose each lawyer is paid $70,000 per year and the office building is rented for $600,000 per year. If the county decides to hire 3 lawyers to handle 18 lawsuits, what will be the average fixed cost of each case? What will be the average variable cost of each case? The average fixed cost of each case will be $ per year, and the average variable cost will be $ (Enter numeric responses using real numbers rounded to two decimal places.)
A county government hires lawyers to defend itself in lawsuits. The local government provides its legal staff with an office building. The table below shows how many cases can be handled with different numbers of lawyers over the course of a year. Lawyers Office Buildings Cases 1 2 14 3 1 18 4 20 21 Suppose each lawyer is paid $70,000 per year and the office building is rented for $600,000 per year. If the county decides to hire 3 lawyers to handle 18 lawsuits, what will be the average fixed cost of each case? What will be the average variable cost of each case? The average fixed cost of each case will be $ per year, and the average variable cost will be $ (Enter numeric responses using real numbers rounded to two decimal places.)
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter16: Bargaining
Section: Chapter Questions
Problem 16.4IP
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![A county government hires lawyers to defend itself in lawsuits. The local government provides its legal staff with an office building. The table below shows how
many cases can be handled with different numbers of lawyers over the course of a year.
Lawyers
Office Buildings
Cases
1
6
14
2
3
18
20
5
21
Suppose each lawyer is paid $70,000 per year and the office building is rented for $600,000 per year.
If the county decides to hire 3 lawyers to handle 18 lawsuits, what will be the average fixed cost of each case? What will be the average variable cost of each case?
The average fixed cost of each case will be $ per year, and the average variable cost will be $. (Enter numeric responses using real numbers rounded to two
decimal places.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9911ccd8-5627-4388-a490-2f74972dd621%2F0f427bc9-4aa2-4d3a-85b7-ec4d6cd66c73%2Fp8b2mzn_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A county government hires lawyers to defend itself in lawsuits. The local government provides its legal staff with an office building. The table below shows how
many cases can be handled with different numbers of lawyers over the course of a year.
Lawyers
Office Buildings
Cases
1
6
14
2
3
18
20
5
21
Suppose each lawyer is paid $70,000 per year and the office building is rented for $600,000 per year.
If the county decides to hire 3 lawyers to handle 18 lawsuits, what will be the average fixed cost of each case? What will be the average variable cost of each case?
The average fixed cost of each case will be $ per year, and the average variable cost will be $. (Enter numeric responses using real numbers rounded to two
decimal places.)
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