QUESTION 2 The table below gives the short run production function for the firm, Jack's Moving Company. Assume that 1 unit of labor costs the firm $150.00 per day and that total fixed cost is equal to $300.00 per day. Fill in the missing values of the table. *All answers should include a dollar sign, a comma to separate the thousands column from the hundreds column if needed, and should be rounded to the nearest cent, for example: $905.23, $1,174.00, etc. Make sure to review the rules for rounding to the nearest cent in the Videos for Appendix A. Units of labor per day (L) Tons of furniture moved per Total Fixed Cost (TFC) Total Variable Cost (TVC) Total Cost (TC) day (Q) 0 $300.00 $0.00 $300.00 0 2 2 3 59 24 4 12 5 14 9 15
QUESTION 2 The table below gives the short run production function for the firm, Jack's Moving Company. Assume that 1 unit of labor costs the firm $150.00 per day and that total fixed cost is equal to $300.00 per day. Fill in the missing values of the table. *All answers should include a dollar sign, a comma to separate the thousands column from the hundreds column if needed, and should be rounded to the nearest cent, for example: $905.23, $1,174.00, etc. Make sure to review the rules for rounding to the nearest cent in the Videos for Appendix A. Units of labor per day (L) Tons of furniture moved per Total Fixed Cost (TFC) Total Variable Cost (TVC) Total Cost (TC) day (Q) 0 $300.00 $0.00 $300.00 0 2 2 3 59 24 4 12 5 14 9 15
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:QUESTION 2
The table below gives the short run production function for the firm, Jack's Moving Company.
Assume that 1 unit of labor costs the firm $150.00 per day and that total fixed cost is equal to $300.00 per day.
Fill in the missing values of the table.
*All answers should include a dollar sign, a comma to separate the thousands column from the hundreds column if needed, and should be
rounded to the nearest cent, for example: $905.23, $1,174.00, etc. Make sure to review the rules for rounding to the nearest cent in the
Videos for Appendix A.
Units of
labor per
day (L)
Tons of
furniture
moved per
Total Fixed Cost (TFC)
Total Variable Cost (TVC)
Total Cost (TC)
day (Q)
0
$300.00
$0.00
$300.00
0
2
2
3
59
24
4
12
5
14
9
15
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