c) Assuming that the cost of employing each worker is $220 per day (including wages and materials), and Custom Made Pot has daily fixed costs of $400, fill in Table B given below: Round your AVC and MC answers to one decimal place. Number of Workers Output TP = 1 10 2 3 A 5 88 180 240 280 294 TVC($) 220 440 660 880 100 1320 TFC Table B TC 400 620 400 840 400 1060 400 1280 400 1500 400 1720 AVC($) ATC 22 5.5 3.67 3.67 3.9 4.5 62 10.5 5.89 5.33 5.3 5.8 MC($) 0 220 220 220 220 220 dy On the graph given below, plot the following points showing the quantity and dollar amounts. point of diminishing returns (D) most productive point (P) economic capacity (E)

c) Assuming that the cost of employing each worker is $220 per day (including wages and materials), and Custom Made Pot has daily fixed costs of $400, fill in Table B given below: Round your AVC and MC answers to one decimal place. Number of Workers Output TP = 1 10 2 3 A 5 88 180 240 280 294 TVC($) 220 440 660 880 100 1320 TFC Table B TC 400 620 400 840 400 1060 400 1280 400 1500 400 1720 AVC($) ATC 22 5.5 3.67 3.67 3.9 4.5 62 10.5 5.89 5.33 5.3 5.8 MC($) 0 220 220 220 220 220 dy On the graph given below, plot the following points showing the quantity and dollar amounts. point of diminishing returns (D) most productive point (P) economic capacity (E)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Please answer the coordinates.
how do you know the total variable is 50 when finding the total fixed cost?
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Suppose that the firm Smith Co sells 400 blouses per month for $80 per blouse. Roberto, the owner of the business and does not take salary from her business yet. Roberto is a textile engineer by trade and could be earning $ 4800 per month working for a similar firm. The monthly costs of production are as follow: materials: $ 8000 labor: $12800 other: $1600 What is are Smith Co's total explicit costs? $ What is are Smith Co's total implicit costs? $ What is Smith Co's accounting profit? $ What is Smith Co's economic profit? $ ID - -> -
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6
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