Watchshop is a watch manufacturing company that sells low-end wrist wacthes. They hire labour at the rate of tk. 3949.0 per worker and their fixed cost is equal to tk. 10630.0 per week. The table below is the product schedule of Watchshop Labour (workers hired per week) Output (watches produced per week) 1 38.0 2 78.0 3 128.0 4 168.0 5 198.0 6 218.0 7 228.0 (a) What is the total cost, when output is 128.0? (b) What is the marginal cost per unit when we move from output 198.0 to output 218.0? (c) Consider that Watchshop is operating in its range of diseconomies of scale. At that level of output, the slope of its LRAC curve is____ 1. Positive 2 .Zero 3. Negative 4. Insufficient information to comment on the slope of the LRAC curve

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Cost of Production

The entire idea of the cost of production or production cost is applied corresponding, or we can say that it is related to monetary cost. Money cost refers to any money expenditure which the firm or supplier, or producer undertakes in purchasing or hiring factor of production or factor services.