Hello everyone, I need a small help answering the following question: 6.1 Given the following production and cost information, construct (make) the referenced costgraphs and answer the discussions questions. Lisa has a lawn-mowing business. Lisa hires students at $40 a day to mow lawns. Lisa leases 5lawn mowers for $200 a day. The production and cost schedule for Lisa’s business is outlinedbelow. Labor (Students per Day) Output (Lawns Cut per Day)0 01 202 443 704 945 1146 118 1. Construct (graph) the average fixed cost, average variable cost, and average total cost.2. Construct (graph) the corresponding marginal cost schedule.3. How many lawns should be cut during each day by Lisa’ business to minimize its averagetotal cost or operate most efficiently? I appreciate your assistance.
Hello everyone,
I need a small help answering the following question:
6.1 Given the following production and cost information, construct (make) the referenced cost
graphs and answer the discussions questions.
Lisa has a lawn-mowing business. Lisa hires students at $40 a day to mow lawns. Lisa leases 5
lawn mowers for $200 a day. The production and cost schedule for Lisa’s business is outlined
below. Labor (Students per Day) Output (Lawns Cut per Day)
0 0
1 20
2 44
3 70
4 94
5 114
6 118
1. Construct (graph) the average fixed cost,
2. Construct (graph) the corresponding marginal cost schedule.
3. How many lawns should be cut during each day by Lisa’ business to minimize its average
total cost or operate most efficiently?
I appreciate your assistance.
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