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What are the fixed and variable cost?

What are the fixed and variable cost?

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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What are the fixed and variable cost?

File 2 Home B 12 Insert 3 Calibri X ✓ fx A B C D Question 2: Costs and Production (Parts a - k) 456 Draw Page Layout ✓11 100 E 30 12 10 8 7 6 6 6 5 5 B FC Formulas F $10 $75 $100 $121 $138 $152 Data $165 $177 $189 $199 $210 bo v Av G Review VC H O TC View Ev ab I J AFC Automate Help HIH AVC 7 8 9 10 a) Use Excel Charts to graph this business' production function (relationship between L and Q). Hint: Select the data that you would like to be included, and go to Insert/ Chart => All charts => Select "Line". Meals (Output Q) Merge Suppose that Maria is starting a food ordering and delivery company. Customers order meals online. Employees prepare the meals and deliver them to customers. Maintenance of the online platform for ordering meals costs the company $5 per day. The company also rents space where orders are prepared. Rent costs $50 per day. To make the deliveries, the business also rents two delivery cars that cost $10 each per day. The costs of ingredients for preparing different numbers of meals are provided in the table below. Maria also has to hire between 0 and 10 workers (depending on the number of meals she chooses to make) to buy ingredients, prepare meals, and deliver the She will pay each employee $120 per day. The first two columns of the table below show how many meals different number of workers can prepare and deliver. Workers Meals (Labor L) (Output Q) MPL=Q/L Cost of ingredients 0 0 30 42 52 60 67 73 79 85 90 95 K V ATC General L ✓ Editing ✓ MC M N TR $ LA > Profit 40 .00 O Prof m
Transcribed Image Text:File 2 Home B 12 Insert 3 Calibri X ✓ fx A B C D Question 2: Costs and Production (Parts a - k) 456 Draw Page Layout ✓11 100 E 30 12 10 8 7 6 6 6 5 5 B FC Formulas F $10 $75 $100 $121 $138 $152 Data $165 $177 $189 $199 $210 bo v Av G Review VC H O TC View Ev ab I J AFC Automate Help HIH AVC 7 8 9 10 a) Use Excel Charts to graph this business' production function (relationship between L and Q). Hint: Select the data that you would like to be included, and go to Insert/ Chart => All charts => Select "Line". Meals (Output Q) Merge Suppose that Maria is starting a food ordering and delivery company. Customers order meals online. Employees prepare the meals and deliver them to customers. Maintenance of the online platform for ordering meals costs the company $5 per day. The company also rents space where orders are prepared. Rent costs $50 per day. To make the deliveries, the business also rents two delivery cars that cost $10 each per day. The costs of ingredients for preparing different numbers of meals are provided in the table below. Maria also has to hire between 0 and 10 workers (depending on the number of meals she chooses to make) to buy ingredients, prepare meals, and deliver the She will pay each employee $120 per day. The first two columns of the table below show how many meals different number of workers can prepare and deliver. Workers Meals (Labor L) (Output Q) MPL=Q/L Cost of ingredients 0 0 30 42 52 60 67 73 79 85 90 95 K V ATC General L ✓ Editing ✓ MC M N TR $ LA > Profit 40 .00 O Prof m
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