Nimbus, Inc., makes brooms and then sells them door-to-door. Here is the relationship between the number of workers and Nimbus' output during a given day. I have completed the first two rows. Workers Output Marginal Total Average Marginal Product Cost Total Cost Cost $200 1 20 20 $300 $15 $5 2 50 30 $400 $8 $3.33 3 90 40 4 120 30 5 140 20 150 10 7 155 5

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Chapter1: Making Economics Decisions
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Fill in the column for average total cost. (Recall that ATC = TC/Q). What pattern do you see?
Transcribed Image Text:Fill in the column for average total cost. (Recall that ATC = TC/Q). What pattern do you see?
Nimbus, Inc., makes brooms and then sells them door-to-door. Here is the relationship
between the number of workers and Nimbus' output during a given day. I have completed the
first two rows.
Workers
Output
Marginal
Total
Average
Marginal
Product
Cost
Total Cost
Cost
$200
1
20
20
$300
$15
$5
2
50
30
$400
$8
$3.33
3
90
40
4
120
30
140
20
150
10
7
155
5
Transcribed Image Text:Nimbus, Inc., makes brooms and then sells them door-to-door. Here is the relationship between the number of workers and Nimbus' output during a given day. I have completed the first two rows. Workers Output Marginal Total Average Marginal Product Cost Total Cost Cost $200 1 20 20 $300 $15 $5 2 50 30 $400 $8 $3.33 3 90 40 4 120 30 140 20 150 10 7 155 5
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