Earth Movers & Shakers operates 3 iron ore mines. The accompanying table shows each mine's total daily production and the current number of miners at each mine. All miners work for the same wage, and each miner in any given mine produces the same number of tons per day as every other miner in that mine. Total Tons Per Day 100 Number of Miners Mother Lode 25 Scraping Bottom 30 10 Middle Drift 75 15 The opportunity cost of moving one miner from Mother Lode to another mine is Multiple Choice 2 tons per day. 3 tons per day. 4 tons per day. 1 ton per day.

Earth Movers & Shakers operates 3 iron ore mines. The accompanying table shows each mine's total daily production and the current number of miners at each mine. All miners work for the same wage, and each miner in any given mine produces the same number of tons per day as every other miner in that mine. Total Tons Per Day 100 Number of Miners Mother Lode 25 Scraping Bottom 30 10 Middle Drift 75 15 The opportunity cost of moving one miner from Mother Lode to another mine is Multiple Choice 2 tons per day. 3 tons per day. 4 tons per day. 1 ton per day.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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4) Consider a firm that has just built a plant, which cost $2,000. Each worker costs $6.00 per hour. Based on this information, fill in the table below.Consider a firm that has just built a plant, which cost $2,000. Each worker costs $6.00 per hour. Based on this information, fill in the table below. Number of Worker Output Hours 0 50 100 150 200 250 300 350 0 400 900 1300 1600 1800 1900 1950 Marginal Fixed Variable Total Marginal Product Cost Cost Cost Cost Average Variable Cost Average Total Cost -- Consider a firm that has just built a plant, which cost $2,000. Each worker costs $6.00 per hour. Based on this information, fill in the table below.
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