Marty's frozen yogurt shop sells cups of frozen yogurt in a local university town. He owns 3 frozen yogurtmachines. His other inputs are refrigerators, frozen yogurt mix, cups, sprinkles, and workers. He estimates thathis production function when he increases the number of workers (and materials like yoghurt mix and cups) is:Quantity ofQuantity ofworkersfrozen(labor)yoghurt(cups)111020032703003206.330a) What are the fixed inputs and what are the variable inputs in this production process?b) What is Marty's VC and TC when he produces 110 cups? Assume he pays each worker $80 a day. His fixed costsare $100 a day. Other VC come to $.50 per cup of yogurt produced. Calculate the VC, FC and TC for all levels ofoutput.c) Calculate MC for all levels of output.Page: 4

The firms in an economy dependent upon the industry in which they belong as well as their costs and…

Marty's frozen yogurt shop sells cups of frozen yogurt in a local university town. He owns 3 frozen yogurt machines. His other inputs are refrigerators, frozen yogurt mix, cups, sprinkles, and workers. He estimates that his production function when he increases the number of workers (and materials like yoghurt mix and cups) is: Quantity of Quantity of workers frozen yoghurt (cups) (labor) 1 110 2. 200 3. 270 4. 300 320 330 a) What are the fixed inputs and what are the variable inputs in this production process? b) What is Marty's VC and TC when he produces 110 cups? Assume he pays each worker $80 a day. His fixed costs are $100 a day. Other VC come to $.50 per cup of yogurt produced. Calculate the VC, FC and TC for all levels of output. O Calculate MC for all levels of output.

Marty's frozen yogurt shop sells cups of frozen yogurt in a local university town. He owns 3 frozen yogurt machines. His other inputs are refrigerators, frozen yogurt mix, cups, sprinkles, and workers. He estimates that his production function when he increases the number of workers (and materials like yoghurt mix and cups) is: Quantity of Quantity of workers frozen yoghurt (cups) (labor) 1 110 2. 200 3. 270 4. 300 320 330 a) What are the fixed inputs and what are the variable inputs in this production process? b) What is Marty's VC and TC when he produces 110 cups? Assume he pays each worker $80 a day. His fixed costs are $100 a day. Other VC come to $.50 per cup of yogurt produced. Calculate the VC, FC and TC for all levels of output. O Calculate MC for all levels of output.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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