Brenda's candle factory rents equipment for making candles and hires students. Brenda pays $60 a day for equipment and $120 a day to each student she hires. The table shows Brenda's total product schedule. *** Calculate Brenda's average fixed cost, average variable cost, average total cost, and marginal cost and complete the table. >>> Answer to 2 decimal places. Total Average Average Average Marginal Labor product fixed variable total cost cost (dollars per (dollars per candle candle) cost (workers (candles per day) per day) cost 1 20 3 44 60
Brenda's candle factory rents equipment for making candles and hires students. Brenda pays $60 a day for equipment and $120 a day to each student she hires. The table shows Brenda's total product schedule. *** Calculate Brenda's average fixed cost, average variable cost, average total cost, and marginal cost and complete the table. >>> Answer to 2 decimal places. Total Average Average Average Marginal Labor product fixed variable total cost cost (dollars per (dollars per candle candle) cost (workers (candles per day) per day) cost 1 20 3 44 60
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Brenda's candle factory rents equipment for making candles and hires
students.
2
Brenda pays $60 a day for equipment and $120 a day to each student she
hires.
The table shows Brenda's total product schedule.
Calculate Brenda's average fixed cost, average variable cost, average total
cost, and marginal cost and complete the table.
>>> Answer to 2 decimal places.
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