Wooden Chair Factory Output Number Number (chairs Marginal of of produced Product of Cost of Cost of Total Workers Machines per hour) Labor Workers Machines Cost 1 2 10 3 2 20 4 35 55 6 2 70 7 2 80 Refer to Table 13-6. Each worker at the Wooden Chair Factory costs $12 per hour. The cost of each machine is $20 per day regardless of the number of chairs produced. Assume the number of machines does not change. If the factory produces at a rate of 78 chairs per hour, what is the total machine cost per day? O We are unable to determine total machine costs from the information given. O $20 O $240 O $40

Wooden Chair Factory Output Number Number (chairs Marginal of of produced Product of Cost of Cost of Total Workers Machines per hour) Labor Workers Machines Cost 1 2 10 3 2 20 4 35 55 6 2 70 7 2 80 Refer to Table 13-6. Each worker at the Wooden Chair Factory costs $12 per hour. The cost of each machine is $20 per day regardless of the number of chairs produced. Assume the number of machines does not change. If the factory produces at a rate of 78 chairs per hour, what is the total machine cost per day? O We are unable to determine total machine costs from the information given. O $20 O $240 O $40

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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