Nimbus, Inc., makes brooms and then sells them door-to-door. Here is the relationship between the number of workers and Nimbus's output in a given day: In the following table, complete the marginal product column. Workers Output Marginal Product Total Cost Marginal Cost Average Total Cost 1 30 70 2$ 3 120 165 200 2$ 220 230 worker costs $120 a day, and the firm has fixed costs of $180. Use this information to fill in the column for total cost in the previous table.

Nimbus, Inc., makes brooms and then sells them door-to-door. Here is the relationship between the number of workers and Nimbus's output in a given day: In the following table, complete the marginal product column. Workers Output Marginal Product Total Cost Marginal Cost Average Total Cost 1 30 70 2$ 3 120 165 200 2$ 220 230 worker costs $120 a day, and the firm has fixed costs of $180. Use this information to fill in the column for total cost in the previous table.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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