Assuming that the labour is the only variable factor of production for banana cakes, and each worker making banana cakes gets paid $21.00 per day. Refer to the table below and determine which statement is correct? Number of workers 0 3 Total banana cakes 0 60 produced daily 1 10 2 20 4 80 5 97 Select one: O a. It is certain that the Marginal Cost Curve is falling when the 97th banana cake is produced daily. O b. It is uncertain that the Total Cost is rising when the 97th banana cake is produced daily. O c. It is certain that the Total Fixed Cost is rising when the 97th banana cake is produced daily. O d. It is certain that the Average Total Cost is rising when the 97th banana cake is produced daily.

Assuming that the labour is the only variable factor of production for banana cakes, and each worker making banana cakes gets paid $21.00 per day. Refer to the table below and determine which statement is correct? Number of workers 0 3 Total banana cakes 0 60 produced daily 1 10 2 20 4 80 5 97 Select one: O a. It is certain that the Marginal Cost Curve is falling when the 97th banana cake is produced daily. O b. It is uncertain that the Total Cost is rising when the 97th banana cake is produced daily. O c. It is certain that the Total Fixed Cost is rising when the 97th banana cake is produced daily. O d. It is certain that the Average Total Cost is rising when the 97th banana cake is produced daily.

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter7: Production And Cost In The Firm

Section: Chapter Questions

Problem 3.7P

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