legal staff with an office building. The table below shows how many cases can be handled with different numbers of lawyers over the course of a year. Lawyers 0 1 2 3 4 5 Office Buildings 1 1 1 1 1 1 Cases 0 12 28 36 40 42 Suppose each lawyer is paid $90,000 per year and the office building is rented for $400,000 per yea If the county decides to hire 3 lawyers to handle 36 lawsuits, what will be the average fixed cost of each case? What will be the average variable cost of each case? The average fixed cost of each case will be $ per year, and the average variable cost will be (Enter numeric responses using real numbers rounded to two decimal places.) $

legal staff with an office building. The table below shows how many cases can be handled with different numbers of lawyers over the course of a year. Lawyers 0 1 2 3 4 5 Office Buildings 1 1 1 1 1 1 Cases 0 12 28 36 40 42 Suppose each lawyer is paid $90,000 per year and the office building is rented for $400,000 per yea If the county decides to hire 3 lawyers to handle 36 lawsuits, what will be the average fixed cost of each case? What will be the average variable cost of each case? The average fixed cost of each case will be $ per year, and the average variable cost will be (Enter numeric responses using real numbers rounded to two decimal places.) $

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

i need the answer quickly
Consider an airline's decision about whether to cancel a particular flight that hasn't sold out. The following table provides data on the total cost of operating a 100-seat plane for various numbers of passengers. Total Cost Number of Passengers (Dollars per flight) 40,000 10 60,000 20 65,000 30 68,000 40 70,000 50 71,000 60 72,500 70 73,500 80 74,000 90 74,300 100 74,500 Given the information presented in the previous table, the fixed cost to operate this flight is s At each ticket price, a different number of consumers will be willing to purchase tickets for this flight. Assume that the price of a flight is fixed for the duration of ticket sales. Use the previous table as well as the following demand schedule to complete the questions that follow. Price Quantity Demanded (Dollars per ticket) (Tickets per flight) 1,000 700 30 400 90 200 100
What is the marginal cost forumla for TC= 10+5Q?
Given the following profit function: T=-2Q^2+260Q-4500, Answer the following questions.
1. Julie needs to hire a plumber. She is told that the cost of hiring the plumber, C, is determined by the amount of time spent on the job, t, in hours. The plumber charges a one-time fee of $30 and an hourly rate of $40. How many hours did the plumber work if Julie paid him $190? Find the value for C (total cost) when time, t =0. Write a sentence describing its meaning.
Question 12 Refer to Figure 1 If the shop pays its mechanics a wage of $600 per day, then what is the shop's marginal profit from that third mechanic? (Enter your answer without a dollar sign.)
You own a small sandwich shop with two employees. They've asked you to consider hiring additional workers for the lunch shift, but you are concerned that doing so may cut into you're profits. Using the table below, calculate the marginal product, value of marginal product, and marginal profit of hiring additional workers. What action should you take (choose one) A. Hire two more employees B. Hit one more employee C. Fire one employee D. Do not hire anyone
Why the answer is 4 hours?
Planes frequently push back from the gate on time, but then wait 2 feet away from the gate until it is time to queue up for takeoff. This increases fuel consumption and increases the time that passengers must sit in a cramped plane awaiting takeoff. The following table shows the pay schedule for the flight crew. Pay Flight Attendant Captain First Officer Per diem $3 $3 $3 Holding pay per hour $20 $20 $20 Hourly wage (after push back) $38 $184 $50 Per diem pay indicates how much the flight crew earns once it checks into the airport. Holding pay indicates how much the flight crew earns after it loads the plane. Hourly wage indicates how much the flight crew earns after it pushes back from the gate and turns on the beacon. In this scenario, who has an incentive to push back from the gate as early as possible? Check all that apply. First officer Passengers Captain Flight attendants True or False: Reducing crew members' hourly…