Consider a production process where flowers are grown (the output) using gardeners (labor) and greenhouses (capital). The quantity of flowers grown per day with various combinations of labor and capital are shown in the table below. Suppose that each gardener is paid $160 per day and the greenhouse is rented for $400 per day. Fill in total cost in the table below. (Enter your responses as integers.) Labor 0 Labor 12345 Capital 1 1 1 1 Output 0 80 240 320 360 380 Total Cost $ 400 560 720 880 1040 1200 Next, fill in average total cost in the table. (Enter your responses as real numbers rounded to two decimal places.) Capital Output Total Cost Average Total Cost

Consider a production process where flowers are grown (the output) using gardeners (labor) and greenhouses (capital). The quantity of flowers grown per day with various combinations of labor and capital are shown in the table below. Suppose that each gardener is paid $160 per day and the greenhouse is rented for $400 per day. Fill in total cost in the table below. (Enter your responses as integers.) Labor 0 Labor 12345 Capital 1 1 1 1 Output 0 80 240 320 360 380 Total Cost $ 400 560 720 880 1040 1200 Next, fill in average total cost in the table. (Enter your responses as real numbers rounded to two decimal places.) Capital Output Total Cost Average Total Cost

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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Consider a production process where flowers are grown (the output) using gardeners (labor) and greenhouses (capital). The quantity of flowers grown per day with various combinations of labor and capital are shown in the table below. Suppose that each gardener is paid $200 per day and the greenhouse is rented for $500 per day. Fill in total cost in the table below. (Enter your responses as integers.) Labor Capital Output Total Cost 0 1 0 $ 1 1 160 2 1 480 3 1 640 4 1 720 5 1 760
Consider a production process where flowers are grown (the output) using gardeners (labor) and greenhouses (capital). The quantity of flowers grown per day with various combinations of labor and capital are shown in the table below. Suppose that each gardener is paid $180 per day and the greenhouse is rented for $300 per day. Fill in total cost in the table below. (Enter your responses as integers.) Etext pages Get more help Labor Capital Output Total Cost 0 1 0 1 1 120 2 360 480 4 5 540 570 80 a 0 1 F2 F3 F4 F5 F6 & Clear all Check answer A DII 4 F7 F8 F9 F10 F11 F12 * delete
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