quantity of machines 100 90 80 70 60 50 40 30 20 10 O $3450 (10,84) O $6000 O $3000 O $4250 10 (20,20) 20 (30,9) (40,5) 40 50 quantity of workers 30 A jewelry firm uses workers and machines to make bracelets. Workers cost $100 per day and machines cost $50 per day. The firm produces 200 bracelets per day The lowest variable cost of producing 200 bracelets is -9=200 60
quantity of machines 100 90 80 70 60 50 40 30 20 10 O $3450 (10,84) O $6000 O $3000 O $4250 10 (20,20) 20 (30,9) (40,5) 40 50 quantity of workers 30 A jewelry firm uses workers and machines to make bracelets. Workers cost $100 per day and machines cost $50 per day. The firm produces 200 bracelets per day The lowest variable cost of producing 200 bracelets is -9=200 60
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter7: Production, Costs, And Industry Structure
Section: Chapter Questions
Problem 23RQ: Which costs are measured on per-unit basis: fixed costs, average cost, avenge variable cost,...
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