Tom pays a daily fee of $100 to occupy an ice cream stand in the mall. He pa day to make and sell ice cream. Complete the table below.

Microeconomics: Private and Public Choice (MindTap Course List)
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ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter7: Consumer Choice And Elasticity
Section: Chapter Questions
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Tom pays a daily fee of $100 to occupy an ice cream stand in the mall. He pays his workers $90 per
day to make and sell ice cream. Complete the table below.
Round to two decimal places. Maximize your browser to view all fields.
Tom's Ice Cream Shop
Output
Labor (L) (Q) Total
Costs
(workers) (ice
cream)
2
0
1
0 100
20 190
"
44 280
60 370
70 460
Marginal Costs
(MC)
Average Total Cost
Transcribed Image Text:4 3 Tom pays a daily fee of $100 to occupy an ice cream stand in the mall. He pays his workers $90 per day to make and sell ice cream. Complete the table below. Round to two decimal places. Maximize your browser to view all fields. Tom's Ice Cream Shop Output Labor (L) (Q) Total Costs (workers) (ice cream) 2 0 1 0 100 20 190 " 44 280 60 370 70 460 Marginal Costs (MC) Average Total Cost
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