Suppose Ralph has a chicken Enteryour sarch term with the total cost function shown in the accopmanying table. Quantity of Total Cost ($) Chickens What s Ralph's fixed cost? 800 1,000 1,000 2,000 1,200 3,000 1,400 Ralph's fixed cost: $ 4,000 1.500 5.000 1.600 6,000 1,800 7,000 2,000 Ralph pays his workers $100 each, and labor is the only variable cost. At a quantity of 1000 chickens, how many 8,000 2,400 workers does he hire?
Suppose Ralph has a chicken Enteryour sarch term with the total cost function shown in the accopmanying table. Quantity of Total Cost ($) Chickens What s Ralph's fixed cost? 800 1,000 1,000 2,000 1,200 3,000 1,400 Ralph's fixed cost: $ 4,000 1.500 5.000 1.600 6,000 1,800 7,000 2,000 Ralph pays his workers $100 each, and labor is the only variable cost. At a quantity of 1000 chickens, how many 8,000 2,400 workers does he hire?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Suppose Ralph has a chicken Enter your search term with the total
cost function shown in the accopmanying table.
Quantity of
Total Cost ($)
Chickens
What s
Ralph's fixed cost?
800
1,000
1,000
2,000
1,200
3,000
1,400
4,000
1.500
Ralph's fixed cost:
$4
5,000
1,600
6,000
1,800
7,000
2,000
Ralph pays his workers $100 each, and labor is the only
variable cost. At a quantity of 1000 chickens, how many
8,000
2,400
workers does he hire?
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