Calculate the average cost of producing 20 units, where each labor is paid $40 and for each machinery $90 is paid. At which point does the minimum efficient scale exists? Labor/$40 Plant 1 Plant 2 Plant 3 15 10 14 10 18 14 20 12 22 18 30 20 Capital equipment / $90 20 30 40 O $270, at Plant 1 O $139, at Plant 1 O $224, at Plant 3 O $171, at Plant 2

Calculate the average cost of producing 20 units, where each labor is paid $40 and for each machinery $90 is paid. At which point does the minimum efficient scale exists? Labor/$40 Plant 1 Plant 2 Plant 3 15 10 14 10 18 14 20 12 22 18 30 20 Capital equipment / $90 20 30 40 O $270, at Plant 1 O $139, at Plant 1 O $224, at Plant 3 O $171, at Plant 2

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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